Determine merchandise range requirements
Merchandise planning is the overall planning process that helps buyers select and develop product for their ranges. It is also known as assortment planning or range planning. It uses financial information based on history and targets in terms of product mix, target costs, profitability, balance of range e.g. proportion of core and fashion, fabrications, options and space allocation. Planning also includes learnings from post seasonal analysis, supplier strategy, customer insights, competitor behaviours, and current marketplace trends.
Knowing who your customer is, what and when they want and need product, and their expectations from your business are key factors as are knowledge of customer responsiveness to competitor marketing and promotions. This plan becomes the buyer’s sourcing strategy, it’s a fluid document and helps with decision making on the width (variety of styles) and depth (units) of the range.
This workshop will go through:
- Planning process
- Exit strategies
- Target market
- Assortment planning
- Critical path
- Promotional plan aligning
- Range sourcing
- Supplier strategy
- Briefing teams
- Product branding
- Range review
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.
The assessments for this workshop include:
- Knowledge Assessment Tool
- Skills Application Tool
- Retail Innovation Tool
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 ( firstname.lastname@example.org) 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.