The Role Of The Retail Buyer

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.