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.
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.
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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