Analyse the operating environment
Today’s retailers trade in a crowded market, one of dynamic pace and fierce competition, of change and innovation, and sometimes of decline and death.
What makes one brand successful and another less so? This question has many potential answers but undeniably a business model that works is a key factor. Integral to a business model that works is a robust merchandise strategy.
A strategy gives a business direction, it acts as a blueprint of where the business wants to head, what it’s core values are, what it’s mission and vision might be and how together they direct business decision making and action taking.
A merchandise strategy specifically relates to what we sell, the products we present and propose to customers whether in a bricks and mortar context, pure play online, or omni-channel.
Develop a Merchandise Strategy is the first unit in the diploma of Retail Merchandise Management and as such sets the tone and offers a big picture perspective to guide the day-to-day activities of retail buyers and planners.
In this workshop, we take a logical progression through the following three key areas:
- Analyse the operating environment
- Develop merchandise strategy
- Review merchandise strategy
In this workshop, you’ll find best practice content supported by activities posed to deepen your knowledge and provide the opportunity to relate content back to retail businesses you know well.
Retail Buyers, Merchandise Planners, Business Owners, Product Managers
Entry – Intermediate
One day workshop - 9:30am to 4:30pm.
You have achieved formal study at the Certificate IV or higher level and currently employed within the retail sector in a function where they have applied knowledge of retail financials, inventory management and retail operations.
have at least two years full time work experience in a retail merchandise management related function where they have applied knowledge of retail financials, inventory management and retail operations.
have at least two years full time work experience in a role where they have applied knowledge of business financials and operations.
This unit is an accredited unit. On successful completion, you can receive national recognition for the unit (statement of attainment).
A successful completion means that all assessments have been marked competent by the assessor and that you have attended the workshop in its entirety.
Your competencies for each unit will be assessed through the following assessment methods:
Knowledge Assessment Tool (KAT)
- The assessment focuses on assessing the knowledge evidence of the unit of competencies in the form of written questions.
Skills Application Tool (SAT)
- The assessment focuses on assessing the performance evidence of the units of competencies in the form of practical demonstration.
Retail Innovation Tool (RIT)
- This assessment is started with case study / facts / specific retail standard to explore and provide you with some insights by answering the questions and implement them in the different context.
Diploma of Retail Merchandise Management (SIR50317)
- Develop a Merchandise Strategy (SIRRMRM002)
- Conduct a Post Trade Analysis (SIRRMRM003)
- Develop a Merchandise Financial Plan (SIRRMRM004)
- Develop a Category Financial Plan (SIRRMRM005)
- Plan a Merchandise Product Range (SIRRMRM006)
- Negotiate and Establish Supply Arrangements (SIRRMRM007)
- Develop a Mechandise Promotional Plan (SIRRMRM008)
- Plan Merchandise Buying Trips (SIRRMRM009)
- Plan Product Development (SIRRMRM010)
- Manage Merchandise Quality & Compliance (SIRRMRM011)
- Develop Ecommerce Strategy (SIRXSTR001)
This workshop is subject to change or cancellation if minimum number of participants is not reached. We will endeavour to notify you as early as possible. Your ticket can be transferred to the next available workshop of the same topic or you can request a refund.
If you have purchased a ticket but cannot attend, please contact the Program Manager ( email@example.com) to have your ticket transferred to a later date. If you cancel within 24 hours of a workshop date, please note that your ticket cannot be refunded or a change fee may occur.