A merchandise planner develops strategies in order to determine new retail lines for a store or a company.
He or she is required to know about product planning and strategizing, and must have had some previous experience in this regard.
Working as a merchandise planner is challenging in the sense that there are several facets to the work, all of which have to be managed properly.
At this position, your main concern should be to maximize profits and sales for the company, by ensuring that new product lines are developed, and the existing ones are also handled properly.
Usually, a business degree is required to work as a merchandise planner. Skills in managing the periodic development of merchandise plans are important to possess.
As important is to ensure that proper planning is undertaken so that replenishment strategies can be developed and implemented.
Skills and Abilities
A person working at this position will be on his or her toes at all times, which is why it is imperative for hiring managers to hire people who are well-organized and can work and think on their feet.
See also: Merchandise Planner Resume
Merchandise Planner Job Description
• Strategize, develop, and implement merchandising plans according to specific instructions.
• Develop plans by working out replenishment strategies and procedures.
• Manage the development of period merchandise plans.
• Communicate comprehensive financial and product strategies to marketing heads.
• Develop and implement pre-season plans, as well as recommend investment quantities.
• Create and maintain contact with vendors and suppliers in order to ensure timely and accurate delivery of goods.
• Forecast future trends in order to develop merchandising plans.
• Make recommendations for planning sales, inventory, and markdowns,
• Handle pre-season topside merchandise planning.
• Analyze sales, inventory, and website data to determine product and brand insights.
• Execute inventory planning processes, such as category planning, re-orders, and clearance.
• Drive revenue growth by effectively allocating inventory investments.
• Improve inventory efficiency by developing buying plans for seasonal as well as regular products.
• Analyze sales results, and variances in order to plan on a periodic basis.
• Maintain in-stock positioning of key basics.
• Analyze size selling and recommend future size offerings.
• Plan sales, inventories, and markdowns.
• Analyze business risks and opportunities.
• Quantify in-season risks and opportunities and make appropriate recommendations.
• Partner with management and merchants in order to strategically move the business towards increasing profits.
• Create floor set productivity analysis and make accurate recommendations for product lines.