What does a Merchandise Planner do?
Published 4 min read
A merchandise planner is responsible for creating and executing a sales and inventory plan for a company's products. This includes forecasting sales, analyzing trends, and managing inventory levels. The goal of a merchandise planner is to maximize sales and profits while minimizing stockouts and excess inventory.
Merchandise Planner job duties include:
- Developing and maintaining merchandise plans
- Analyzing sales data and trends
- Developing promotional and markdown strategies
- Working with buyers and merchandisers to develop product assortments
- Allocating merchandise to stores based on sales history and projected demand
- Monitoring inventory levels and reordering merchandise as needed
- Tracking shipments of merchandise and ensuring that products arrive in stores on time
- Resolving any issues that arise with shipments or product availability
- Analyzing financial data to identify opportunities and risks
Merchandise Planner Job Requirements
Most merchandise planners have a bachelor's degree in business, although some have a degree in a field related to the company's merchandise, such as fashion merchandising. Many employers prefer to hire candidates who have previous experience working in retail or with the company's specific type of merchandise. Certification is not required, but many merchandise planners choose to pursue professional certification through organizations such as the American Purchasing Society.
Merchandise Planner Skills
- Analytical skills
- Profit and loss analysis
- Inventory management
- Financial analysis
- Pricing
- Assortment planning
- Product development
- Vendor management
- Supply chain management
- Retail math
- Planogramming
- Trend analysis
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How to become a Merchandise Planner
There are many different types of merchandise planners, but all have a common goal: to ensure that the right products are in the right place at the right time. A successful merchandise planner needs to have a strong understanding of both the customer and the product. They must be able to forecast trends and anticipate customer needs in order to create a successful plan.
Here are a few tips on how to become a successful merchandise planner:
1. Understand your customer. Know who they are, what they want, and what they need. This information will be critical in creating a successful plan.
2. Understand your product. Know everything about the products you sell, from how they are made to how they are used. This knowledge will help you make better decisions about what to stock and when.
3. Stay up to date on trends. Knowing what is popular now and what is likely to be popular in the future will help you make better decisions about what products to stock and when.
4. Anticipate customer needs. Try to anticipate what your customers will need before they even know they need it. This will allow you to get the products they want into their hands as quickly as possible.
5. Be flexible. Things change, and your plans need to be able to change with them. Be prepared for the unexpected and be willing to adjust your plans as needed.
6. Be organized. A good plan is only as good as its execution, so make sure you have a system in place for tracking progress and keeping everything on schedule.
7. Communicate with your team. Make sure everyone involved in executing your plan is on the same page and knows what their role is. Good communication will help ensure a smooth execution of your plan.
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