Merchandising jobs | Merchandising job description & Concept

Merchandising job description

Merchandising jobs

The merchandising jobs are instrumental in all commercial decisions such as how much money should be spent on business decisions, how many separate lines should be purchased, and to what extent, involvement in pricing to control profits and when to supply stocks, play an important role in all business. To bring this responsibility to fruition, it is important to realize that merchandisers can transact business with £5 million to £50 million across hundreds of stores. Every mistake or miscalculation has a “multiplier effect” resulting in potentially huge losses. A merchandiser is effectively running a field of business and will be responsible for a larger turnover than many Managing Directors of smaller public companies.

Merchandising jobs

The retail industry wheel is an important cog in the retail merchandising jobs. A retail merchandiser works alongside buyers and effectively retains departmental purse strings. The retail merchandiser is responsible for ensuring that the right number of products appear in the right store and at the right time. When buyers choose a product, it is up to the retailer to decide how much money to spend and how many lines to buy.

Retail merchandising jobs are very fast-paced. Changing from day to day, involving retail business profit and sales forecasts, the “best sellers” make sure to get back on the shelf before the sale. Liaising with buyers, analysts, stores, suppliers, and distributors is also a key part of this work. Retail merchandising jobs oversee stock distribution and distribution, dealing with any problems that may arise.

Merchandising job description /Responsibilities

A merchandiser needs to know what is new in the market, what customers will like, and what products will make a profit. Merchandising job description /Responsibilities are as below-

i. Be able to independently correspond and manage foreign clients

ii. Marge and guide a team of Merchandisers

iii. Work with company management to bring in new business

iv. Manage client accounts from order inquiry to shipment

v. Coordinate with other departments to ensure on-time shipment and 100% quality approval

vi. Work with fabric and accessory suppliers to ensure orders are done as per specifications

vii. Follow up on Developments, samples, and Production with a high degree of personal responsibility

viii. Cost reconciliation after completion of each other

ix. Produce reports to management and clients

x. Supplier sourcing

xi. Excellent speaking and writing in English

xii. Be able to handle the high-pressure work environment of a multinational company

xiii. Result-oriented team player

xiv. Self-motivated and self-organized with a positive attitude

xv. Forecast profits/sales and plan budgets

xvi. Experience knowledge with different foreign clients

xvii. Working knowledge with different foreign clients

xviii. Making financial presentations to senior managers.

xix. Negotiating quantities and delivery timescales

xx. Supervising and training junior staff

xxi. Managing levels and distribution of stock

xxii. Handling supply/production problems as they arise

xxiii. Setting stock promotions/price reductions as appropriate

xxiv. Good knowledge of costings, consumption, fabric construction, wash techniques, price negotiation, and supplier sourcing.

Concept of merchandising

The concept of merchandising is to establish objectives and make plans to achieve them. The planning process usually involves both the terms of the merchandise budget and the exclusive product business listings. The overall purpose of the merchandising concept is to meet both the customer's product needs and the retailer's financial needs. To achieve that goal, the retailer must create a commodity plan that creates an acceptable balance between inventory and sales. To balance sales this list retailer must carefully plan each commodity class (1) inventory investment (2) inventory assortment and (3) inventory support. Inventory investment plans to invest total money in commodities so that the firm can retire for its financial purposes. Inventory assortment the retailers of various product items such as brand, style, size, color, material, and price combinations should stock within a specific product line and determine whether this assortment is sufficient to meet the firm's product selection requirements is target customers. Inventory support refers to planning the number of units held by the retailer for each product for sales estimates.

Concept of merchandising

Importance of Merchandising

Broadly speaking, merchandising is any practice that contributes to the sale of a product to a retail consumer. At the retail in-store level, the variety of products available for sale and the display of those products in such a way stimulate interest and motivates customers to buy.

In retail, visual display merchandising means selling products using product design, selection, packaging, pricing, and displays that motivate consumers to spend more. This includes discipline and physical representation discounts on products and displays and decisions about when a product should be presented to customers.

Merchandising helps to understand the general dating notation for the terms of invoice payment. It solves pricing issues including markups and markdowns. It helps to find the net price of an item after single or multiple trade discounts and can calculate the single discount rate which is equivalent to a series of multiple discounts. In addition, it helps to calculate the amount of cash discount for which payment is eligible.

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