There is a rhythm and routine to retail, which is largely generated by the product lifecycle. This course provides an overview of the key processes, tasks and decisions that Buying, Merchandising and Planning teams carry out across the product lifecycle. It introduces a wide range of essential commercial concepts such as merchandise planning, range and assortment planning, sourcing and supplier management, the WSSI, allocation and distribution and trading decisions.
It also conveys the current and future retail trends that teams need to understand and embrace, as well as providing an overview of the most common retail commercial structures and roles.
- £150 plus VAT
- 5% discount if you buy 3+ courses
- 10% discount if you buy 5+ courses
- Contact us for large group quotes
What you will learn
- Appreciate the retail industry and the critical decisions made by commercial teams
- Talk knowledgeably about the retail landscape and retail structures
- Show an understanding of the retail cycle, and the activities involved throughout
- List the key considerations when planning and trading ranges
- Consider components involved in buying, sourcing, and supply chain decisions
- Identify key current and future retail trends
Modules in more detail
- The retail landscape
Identify global retailers, the changes the sector has seen in recent years, and the impact of online retailing - Retail structures
Introduce common retail structures, the key roles and their responsibilities - The retail cycle
As the main part of the course this module provides an overview of the high-level steps that all retailers use to manage their business including:
Strategy – Appreciate the difference between a vision and a strategy. Determine the inputs to a strategy and how tools like SWOT and building blocks are used to create a strategy
Plan – Explore the financial KPIs essential to a plan, and understand how the WSSI is used in planning. Identify the inputs which create a range framework and determine the assortment or option planBuy – Selecting suppliers and products, the importance of a sourcing strategy when choosing sourcing models and routes. Negotiating with suppliers and placing orders
Move – Delve into the different routes to market available to retailers, appreciate the difference between initial and replenishment allocations and recognise the value and role of grading or banding stores
Trade – Uncover how retailers effectively evaluate trading performance, which KPIs are measured, how to re-forecast based on those findings and then take the right action to address any issues
Learn – Explore the importance of a thorough and formal review of results and lessons learnt at the end of a selling period, in order to improve decisions and actions for the future
- Emerging trends
An opportunity to explore some of the topics which are re-shaping the retail landscape of today, and consider whether they will have a positive or negative impact on the future of retailing
Who it is suitable for
- Entry level roles within buying, merchandising and planning
- Anybody applying for a job in buying, merchandising and planning
- Roles within retail support functions e.g. HR, finance, IT
- Suppliers of products or services to retailers
Price
- £150 plus VAT
- 5% discount if you buy 3+ courses
- 10% discount if you buy 5+ courses
- Contact us for large group quotes
At a glance...
- Four online modules
- Total learning time = 3 hours
- Works across PC, tablet and phone
- Gamified self-led learning
- Full audio voiceover
- Video and eLearning format
- Digital activities, quizzes and action plans
- Practical application of best practice
- Full access for 6 months
- Developed by retail buying & merchandising experts
- Digital certificate on completion