Merchandise Planner

Merchandise planners are in charge of developing effective merchandise strategies for their company. They are responsible for creating sound financial plans that reduce company spending, and increase overall profit. They review forecasts, use past performance to make projections, make recommendations for promotional markdowns, and manage inventory to maximize profitability. Additionally, merchandise planners research market trends to increase create more attractive offerings.Most of the time, merchandise planners act as a liaison between the corporate planning office and the buying office within their company. They also project gross margin, inventory goals, and sales trends, as well as analyze sales, inventory flow, and merchandise strategies. Using this data, they prepare monthly estimates and present their progress to the manager or president in their department. They also attend regular staff meetings to update forecasts and receive input from other members and executives.A bachelor's degree in marketing, business planning, or a related field is required for this position. In addition, previous experience in a planning capacity may be preferred. To be successful in this field, merchandise planners must be results-oriented individuals with strong interpersonal skills to develop excellent relationships with vendors and external business partners. They must be able to work with other planners to reach all company objectives, as well as work well independently to meet strict deadlines. Merchandise planners must also have extensive knowledge of products and their capabilities while working with suppliers to negotiate terms and cost.

As a Merchandise Planner with 3-6 years of experience in Australia, your main responsibilities include:

• Analyzing sales trends, historical data, and market conditions to develop accurate merchandise plans that align with business objectives.You will be responsible for utilizing data analysis to identify sales patterns and market trends, allowing you to create effective merchandise plans that meet the company's goals and objectives.
• Collaborating with cross-functional teams such as buying, inventory management, and marketing to ensure seamless execution of merchandise plans.You will work closely with various departments to ensure the smooth implementation and execution of merchandise plans, coordinating efforts to maximize sales and profitability.
• Monitoring inventory levels, sales performance, and customer demand to make timely adjustments to merchandise plans.It will be your responsibility to closely monitor inventory levels, sales performance, and customer demand, enabling you to make necessary adjustments to merchandise plans to optimize inventory turnover and meet customer needs.
• Conducting regular analysis and reporting on merchandise performance, identifying areas for improvement and recommending strategies to drive sales and profitability.

For a Merchandise Planner, the following qualifications are required:

• Strong analytical skills to analyze sales data, market trends, and customer preferences to develop effective merchandise plans and strategies.
• Proficiency in inventory management systems and software to accurately forecast demand, monitor stock levels, and optimize inventory allocation.
• Excellent communication and collaboration skills to work closely with cross-functional teams, such as buyers, suppliers, and store managers, to ensure proper merchandise assortment and timely replenishment.
• Attention to detail and strong numerical aptitude to create and manage merchandise budgets, track performance metrics, and make data-driven decisions for maximizing sales and profitability.

The role of a Merchandise Planner is crucial in ensuring effective inventory management and sales forecasting in the retail industry. For professionals with 3-6 years of experience in Australia, here are four alternative roles to consider:

• Category Analyst: Responsible for analyzing market trends, consumer behavior, and competitor data to optimize product assortment and drive sales.
• Demand Planner: Focuses on forecasting customer demand and creating supply plans to ensure product availability while minimizing inventory costs.
• E-commerce Merchandiser: Manages the online product assortment, pricing, and promotions to maximize sales and enhance the customer experience in the digital space.
• Inventory Control Specialist: Overseeing inventory accuracy, implementing inventory control procedures, and optimizing stock levels to minimize stockouts and excess inventory.

The merchandise planner role in Australia is projected to experience steady growth in the market, according to the latest data points available with Google. Over the past 10 years, this job role has shown a positive trend, with increasing demand and relevance in the retail industry. The role is expected to continue evolving and expanding, creating numerous employment opportunities for professionals in the future. This growth is attributed to the increasing complexity of supply chain management, the rise of e-commerce, and the growing importance of data analysis in retail.