Course details
One of the essential elements of success in any role, is to fully undersand what success in that role looks like. Being able to express the key requirements of the role and the Key Performance Indicators is crucial. The Role of the Retail Buyer programe is designed to help aspiring and newly appointed buyers to understand, manage and achieve the broad range of outcomes that are expected of them, especially those internally focussed aspects.
OBJECTIVES
After completion, participants will be able to:
- Identify the KPIs for retail Buyers
- Understand the purpose of Assortment Planning and the factors that need to be considered
- Understand how Range planning flows from that Assortment Plan and why not every product is good for you
- Use tools to measure and improve inventory productivity
- Manage the vast quantities of data now available to them
COURSE CONTENT
Retail Buying Tooday
There are a myriad of different models for the retail buyer. What are the strengths and weaknesses of each of them and what are the key performance indicators that are usually expected of these roles?
Assortment Planning
Ensuring that the option plan is managed so taht customer expectations are not only met but exceeded is an essential component of the buyer's role. We will explain, in simple terms, how a buyer can deliver on this.
Range Planning
Once the assortment has been mapped the range can be built and the detail can be added. As well as explaining the diference between assortment and range planning, participants will see how they can build a great range for their business.
The Importance of Stock Management
Inventory is your greatest asset and your biggest liability. How do you manage that dilemma and what can you do to ensure that your inventory remains fresh and healthy?
Analysing Product Performance
Retailers have more data than even before. This introductory session will show how to start to manage that data to build a robust retail business.
WHO SHOULD ATTEND
This course is for store and department managers, buyers, planners and trainee managers. It is suitable for those who desire to understand retail finance and profitability.
Updated on 08 November, 2015Course Location
About The Retail Academy Of Singapore
The science and arts of retailing as a business have advanced over the years. Changing customer preferences, business innovations, globalisation, information technology and now, raising productivity, have pushed the boundaries of retail management. To develop leadership capabilities, retail executives have to learn more and faster than before. A formal grounding in retail management is essential for any retail executive; and, continuous professional development is a must for the contemporary retail manager as well as the business owner. A key focus of the Retail Academy is to develop leaders at middle and senior levels of the retail organisation. In a highly competitive global marketplace, retailers need leaders with higher education, deeper insights of the business and wider accessibility to networks.
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