Sourcing, selecting, maintaining and delivering the right products to meet demand and business objectives.
This standard has options. Display duties and KSBs for:
This occupation is typically found in the retail sector, across a range of different types of companies and employers such as those selling direct to the public / consumer and those selling to trade. It is also found across different types of retail operation, including those who trade from traditional stores, those who are exclusively on-line, and those who operate through a variety of channels.
The purpose of the occupation is to understand the brand and customer in order to source, select, maintain and deliver the right products to meet demand and business objectives. Using effective business forecasting, risk and opportunity analysis, creativity and business insight, they anticipate and shape customer demand and market trends. The overarching purpose of buyers is to identify and source the right products and services, in line with the organisations strategic objectives, for the organisation to sell to customers.The overarching purpose of the merchandiser is to maximise sales and profit by ensuring that the right products are available to customers in the right place at the right time and in the right quantities. They achieve their objectives by developing and implementing buying and merchandising strategies to ensure current and future customer demand is researched, anticipated and satisfied. They anticipate and prepare for new markets through customer insight and research activities, and they contribute to company profit through efficient, effective and sustainable buying and merchandising.
In this occupation, individuals would normally interact with a wide range of internal and external colleagues, including but not limited to, their wider buying and merchandising team, designers, manufacturers, suppliers, distribution centres, stores, marketing, finance and IT departments. This is normally an office-based role, but may involve remote working, travel to stores, trade fairs, supplier meetings etc. There may also be a need for travel to other countries for supplier and factory meetings. There will usually be a significant leadership element to the role.
In this occupation, they will typically be responsible for the management of a team. They will be responsible for an assigned ‘assortment’ or product range. They will have budget responsibility, which varies significantly across different employers and departments, but could reach £100m+.
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Duty 1 Creatively manage a portfolio of products and services to ensure that the critical path(s) for the assortment is (are) followed, taking appropriate corrective actions to resolve issues as needed. |
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Duty 2 Apply detailed knowledge of UK and / or global markets to select and develop an appropriate product and service range. |
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Duty 3 Through effective leadership, develop and contribute to departmental buying and merchandising strategy to ensure overarching organisation objectives are met and that products and services meet the needs of the customer. |
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Duty 4 Take account of emerging technological changes in design and delivery as well as new markets to maximise market share and profitability. |
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Duty 5 Make informed managerial decisions that manage risk, drive sales and profitability, taking into account the requirements of different customer and delivery channels. |
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Duty 6 Drive sales and profitability through effective negotiations with suppliers on key deliverables such as: capacity, cost price and flexibility, re-buys, cancellations, delivery dates, lead times, promotion support etc. |
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Duty 7 Manage and collaborate with key internal stakeholder functions to agree appropriate promotional strategies and other activities to maximise the success and profitability of the allocated assortment. |
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Duty 8 Deliver robust range building and planning for the assigned assortment, linking it in to the wider operation of the buying and merchandising function. |
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Duty 9 Lead, coach, manage, motivate and develop self and team members to achieve personal and business success. |
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Duty 10 Ensure all channels to market are considered and the most appropriate channel(s) is/are selected to maximise the sales and profit potential. |
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Duty 11 Developing own brand products to meet current trends and customer requirements, linked to strategy and financial targets. |
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Duty 12 Ensure department is set up to maximise sales and profitability by using techniques such as pricing strategies, product trends, product design and appropriate routes to market. |
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Duty 13 Ensure they and their team deliver in an ethical, sustainable and legal way in the sourcing of product ranges, aligned to the overall strategy of the business. |
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Duty 14 Analyse and evaluate overall performance of the Buying function, against the original strategy and business plan, identifying lessons to learn for future business cycles. |
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Duty 15 Ensure ranges are sourced to comply with relevant safety and quality standards. Oversee the process to identify and rectify any failures in safety and / or quality. |
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Duty 16 Source and select 3rd party products to meet current trends and customer requirements, linked to strategy and financial targets. |
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Duty 17 Uses analysis to develop range framework identifying commercial opportunities. Collaborate with the buying team to input into or create a plan to deliver a commercial assortment that maximises sales and margin |
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Duty 18 Ensure they and their team work in an ethical and legal way in the supply of product ranges, aligned to the overall strategy of the business. |
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Duty 19 Trades effectively delivering to sales and profit targets whilst identifying and taking relevant actions, to account for market and performance factors. |
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Duty 20 Analyse and evaluate overall performance of the merchandising function, against the original strategy and business plan, identifying lessons to learn for future business cycles in order to maximise sales |
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Duty 21 Ensure the availability of appropriate product range to meet customer demand and expectations across all delivery channels. This to be achieved, through detailed forecasting, and management of the WSSI, supplier interaction and critical path management |
K1: Understands the overall product portfolio and brand image that the company is promoting to the customer, and can purchase and merchandise the products accordingly.
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K2: Understands how to identify current and future buying and loyalty behaviours of existing and potential customer groups for core products and third party products
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K3: Understands the impact of the buying critical path on the effective operation of the buying function. Understands the concept and impact of new product development.
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K4: Understands when a product and product range has reached the end of its lifecycle, and acts appropriately to ensure its removal from the product range.
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K5: Understands the key factors that influence UK and global markets, including economic and political activity
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K6: Understands how different business models, buying cycles, trading models and customer groups can affect the buying and merchandising process.
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K7: Understands the impact of emerging technological changes, for example AI, in terms of how product is sourced, how buying and merchandising processes might be improved, and how they might impact on customers,
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K8: Understands what factors contribute to the strategic development of the buying and merchandising function,and how through their leadership, they can influence the development of the strategy
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K9: Understands the key factors that influence the quality of a product and tolerance levels.
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K10: Understands the strategic implications for product range development, and the appropriate courses of action available.
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K11: Understands the importance of ensuring that at all stages of the buying and merchandising process, the product is fit for purpose and meets company standards
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K12: Understands impact of new and evolving purchasing options across different fulfilment channels.
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K13: Understands the main influencers on sales and profit growth, and can lead the team to achieve them.
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K14: Understands the key financial levers and ratios that affect profitability, and can manage the team to ensure that profit is maximized.
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K15: Understands the key deliverables associated with the buying and merchandising function, such as cost return rates, re-buys, cancellations, debit agreements, delivery dates, lead times etc.
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K16: Understands the importance of effective negotiation and managing an ongoing relationship, including with designers, manufacturers and suppliers.
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K17: Understands the importance of effective partnerships with other functions and departments, such as Merchandising, Sales and Finance, and leads the team to ensure that the outcomes from the relationships are maximized.
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K18: Knows when to make appropriate refer decisions to senior executives in order to obtain the correct level of authorisation.
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K19: Understands why effective planning and forecasting are vital to delivering a robust range plan, such as aspects of customer demand and changes in buying patterns.
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K20: Understands the importance of, and strategies to, lead, coach, motivate and develop members of the team
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K21: Understands the importance of leadership style and self - development, on the success of the business
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K22: Knows how to identify the customer’s current and future needs and purchasing trends, including ethical and sustainable retailing
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K23: Understands how different channels of delivery, buying cycles, trading models and customer groups can affect the buying and merchandising process.
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K24: Understand how to identify current and future buying and loyalty behaviours of existing and potential customer groups.
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K25: Understands key buying analysis criteria such as, competitor benchmarking, price comparison, and competitor analysis.
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K26: Understands the roles that techniques such as business planning, pricing strategies, product design and product manufacture, often in a global context, have on the overall success of the business
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K27: Understands the need to develop and implement innovative and responsive processes and systems to customer's digital demands.
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K28: Understands the requirements of delivering to the most appropriate route to market.
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K29: Understands the potential problems that can arise from non-legal and ethical compliance and options for mitigation.
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K30: Understands the concept and impact of new product development.
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K31: Understands the importance of onboarding new suppliers to ensure full compliance with internal and external standards
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K32: Understand where additional corporate requirements are needed to enhance compliance practice
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K33: Understands the process that is required to ensure the rectification of any failures
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K34: Understands how to effectively utilise data in order to identify commercial opportunities for their organisation
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K35: Understands the importance of working together with other teams (especially buying)
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K36: Understands the potential problems that can arise in merchandising and how they can be mitigated.
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K37: Understands concepts such as ‘modern slavery’ and how they might impact on the business
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K38: Understands allocation strategies and ensure effective data inputting
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K39: Understands how to interrogate data in order to make effective trading decisions
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K40: Understand merchandising concepts such as ‘fixturisation’, and the effective use of space
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K41: Understands the impact of effective forecasting on the operation of the merchandising function.
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K42: Understands in depth, the purpose of the critical path
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K43: Understands supplier data, such as delivery intakes , packaging requirements etc.
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K44: : Understand differing requirements across all methods of delivery (eg instore and on line)
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K45: Understands the principles of having the right stock in the right place at the right time, in order to satisfy customer demand.
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K46: Understands the impact that they have as a leader on the business,.
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K47: Knows how to effectively build relationships with key external stakeholders
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K48: Understands how to review and revise a system that is not functioning correctly
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K49: Knows how to utilise different communication techniques
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S1: Apply understanding of customer and business operations to inform decisions on product and service portfolio management.
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S2: Selects and merchandises products that enhance the company brand image and product portfolio.
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S3: Anticipates the need for products and ensures that the buying process enables their effective delivery to the customer
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S4: Delivers and articulates supported recommendations regarding the introduction or withdrawal of a product and product range.
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S5: Analyse and react to main influences on Buying and Merchandising plans, taking appropriate actions as a result.
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S6: Leads the team to construct the key buying and merchandising objectives and plans for the specific product range to reach or exceed sales at forecasted levels.
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S7: Makes appropriate managerial decisions to ensure the departmental approach to selecting products and services balances quality and commerciality
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S8: Uses management -based monitoring procedures throughout the buying and merchandising process, taking account of legal and other requirements to ensuring product compliance is maintained.
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S9: Critically evaluate and advocate opportunities presented by new technologies taking account of how they will impact on the product range, fulfilment and consumer behaviour.
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S10: Analyses appropriate cost and income influences on buying and merchandising plans to make informed decisions
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S11: Through their influence as a leader, looks to use digital opportunities to drive sales and profitability across all channels where appropriate
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S12: Demonstrates how to negotiate in a manner that obtains the optimum outcome for the business
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S13: Through their leadership and management of the team, demonstrates a strategic approach to the relationship with other departments.
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S14: Anticipates potential problems and opportunities through the effective liaison at the appropriate level with other teams and functions.
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S15: Critically reviews and revises plans and forecasts for the function, taking into account the latest trend analyses, to produce the range.
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S16: Develops and implements a ‘People Plan’, that is effective in ensuring sufficient team capacity and capabilities to deliver on business objectives
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S17: Demonstrates an effective leadership style in achieving the key business objectives.
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S18: Ensure continuous personal and team development to enhance delivery
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S19: By using data, analyse and predict the customer’s current and future needs and purchasing trends, including how the customer journey is impacted
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S20: Using critical research, construct a customer engagement plan identifying the effective and profitable channels to market.
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S21: Assesses and implements the relevant approach required from a buying and merchandising strategy, to take account of differing types of delivery channel, product and customer.
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S22: Using critical research, construct a customer engagement plan identifying the effective channels to market.
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S23: Work in partnership with the customer engagement team to achieve better outcomes for both existing and new customer groups.
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S24: Analyses the key buying criteria to help shape the planned product range
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S25: Critically evaluates the current and future methods of digital delivery, and anticipates customer changes in respect of the use of digital and Artificial Intelligence
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S26: Being able to implement techniques such as business planning, pricing strategies, product design and product manufacturing to maximise sales and profitably
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S27: Ensures that the organisation’s ethical and legal policies and procedures are monitored and adhered to by the team and suppliers.
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S28: Anticipates the need for products and to ensure that the buying process enables their effective delivery to the customer
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S29: Can articulate a supported recommendation regarding the introduction or withdrawal of a product and product range.
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S30: Ensures compliance with company operating standards in the sourcing of range.
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S31: Can identify when problems are likely to occur, and manage action required to resolve them.
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S32: Effectively analyses the key buying criteria to help shape the planned product range for 3rd party products
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S33: Has the ability to ensure that the right product is available at the right time, in the right place.
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S34: Produces and delivers accurate forecasts which demonstrate creative and ambitious suggestions for future strategy
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S35: Demonstrates customer insight in preparing forecasts
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S36: Demonstrates the activities needed to ensure that the forecast is underpinned by financial considerations and business strategy.
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S37: Ensures that the organisation’s ethical and legal policies and procedures are adhered to.
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S38: Ensures that all team members operate within current legal guidance.
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S39: Operates to, and ensures relevance of company operating standards
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S40: Makes commercial decisions based on product, category and departmental performance
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S41: Maximises every trading opportunity in order to deliver sound commercial outcomes for the organisation
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S42: Using IT skills, develop strong spreadsheet and pivot table creation knowledge to enhance and optimize reporting and analysis data, so as to improve sales and profitability.
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S43: Anticipates the need for products and ensures that the buying process enables their effective delivery to the customer
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S44: Prepare executive level reports on current and forecasted performance, and using advanced presentation skills, ensure the communication of the outcomes is delivered in the most effective and profitable way.
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S45: Effectively liaises with other key stakeholders to ensure a joined-up approach across the business.
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S46: Delivers to the critical path plan in order to ensure that delivery deadlines are met, and that intakes meet stock levels
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S47: Delivers timely and accurate forecasts to ensure that customer needs are met.
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S48: Communicates directly with suppliers to ensure receipt of stock
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S49: Demonstrate effective problem solving and time management skills, and an expert written and verbal communication style
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S50: : Assess the impact that they have on key external relationships, and adjusts their style to ensure that they achieve maximum benefit for the business
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B1: Acts as an ambassador for the buying and merchandising function and the business
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B2: As a leader, Is resilient, responsible, commercially aware and takes the initiative
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B3: Seeks opportunities to develop themselves and the team
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B4: Builds relationships across the whole function and beyond.
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B5: Is creative in their approach to the role
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| Version | Change detail | Earliest start date | Latest start date |
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| 1.0 | Approved for delivery | 16/07/2019 | Not set |
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