What does the director of merchandising do?
Merchandising Director is a key player in the retail industry. He is responsible for obtaining products from manufacturers who will eventually be sold in its product lines. Requirements for successful Merchanding director often include knowledge of products, negotiating skills and the ability to correctly assess current and future market requirements. This can be done by participating in trade fairs that can display new or improved goods on the market, by conducting surveys with current customers to determine the needs or evaluate current sales trends to identify items in the current product line with consistently strong results. This is a key step in the merchandising process, mainly because the poorly selected product can eventually lead to low sale and excess of goods that cannot be moved and profit at the same time.
As soon as potential products are identified, the Merchanding Director must select a viable source from which the product can be obtained. MaThe RCETING Director may decide to buy goods directly from the manufacturer and offer a potential advantage in terms of reducing costs and allowing your own product modifications. He can also work through a middle -aged man who negotiates with a manufacturer on behalf of several buyers and often provides a higher price discount due to higher volumes purchased at once.
After Merchandising selects the best manufacturer or distributor, he must work with them directly to create a suitable price. The price of goods will often vary very much, depending on the size of the order and the required customization, if it exists. While initial orders are fine than other inventory creation are usually designed to replenish current stocks and usually include smaller quantities. Merchanding Director often concludes a contract with a manufacturer or distributor thatIt provides a specified price for a larger initial shipment even for smaller subsequent orders.
The director of merchandising is then responsible for placing the order based on the current needs of his company, while the planned market demand plays a key factor in the decision -making process. He would also be responsible for determining the appropriate shipping date for the goods and ensuring that the company would have enough time to sell the product based on any seasonal trends that could affect it. The typical delay between initial shopping negotiations and the delivery of the final product is what leads the director of merchandising to buy items designed to use one or more seasons for the future, unlike relying only to the current trends market.
As soon as the goods arrive, the director of merchandising is in charge of organizing the product supply to the retail store. He will often work with the marketing department to create advertising campaigns for significant editions of the product. Can also occasionallyto cooperate with the financial aspects of the product, help in determining the best -selling price based on the purchase price and the required profit margin