Buying and Merchandizing Training & Certification

Team-based digital learning

Your team will learn:

• The art of buying
• Product lifecycles
• New product development
• Retail metrics
• Pricing strategies
• Compliance and ethics

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Buying and Merchandizing Training & Certification

Understand the role of the retail buyer and learn how to plan and manage successful promotional campaigns, select products, build ranges, plan seasonal launches, and design products at price points.

The buying and merchandising department of a retail company is unique in the procurement world. It performs many of the same functions as a typical buying department but goes much further; from end-to-end product lifecycle management to commercial business management, visual merchandising in store and more. Our buying and merchandising training content covers:

Product lifecycles

Learn about the different stages of a product’s lifecycle, and the role of a retail buyer in each stage, including tactics for extending the lifecycle and transitioning to new products.

New product development

Understand the stage gates of the product development process and the role of the buyer in working with suppliers and product development.

Retail metrics

Our deep-dive into reporting examines key metrics used in retail businesses to track performance and compare against industry-leading benchmarks. We explore key measurements, such as markup and margin, stock turns and GMROI and further explore customer behavior metrics like footfall and sales per square foot. We also teach you how to optimize your strategies based on the metrics – for example inventory policies and how to utilize retail space.

Exchange Rate Risk

Effectively managing risks of currency fluctuations is a crucial skill for procurement professionals and our course teaches the most effective strategies and the skills to implement them. Learn why exchange rates move, hedging strategies and how to include exchange rate provisions in contracts and RFPs.

Compliance and ethics

Our virtual supplier visit simulation walks your team through planning and conducting a supplier audit, identifies potential environmental and human rights issues and shows how to develop corrective action plans to ensure that suppliers comply with legal requirements and your company’s ethical policies.