The function of buying for different types of organizations
The function of buying and merchandising varies from organization to organization. The role of the buyer and merchandiser would vary. Similarly, the levels within the hierarchy would also vary. Many a time, the job of a buyer is likened to that of product manager in a consumer company. Just as in a consumer goods company a product manager develops the annual marketing plan for a particular consumer product with an eye toward achieving the business objective, the buyer performs the same function for the merchandise line that he or she is responsible for. Targets need to be achieved in term of sales and profit goals. Strategies need to be developed keeping in mind the specific customer profile to the merchandise. The buyer needs to monitor and maintain gross margin plans by controlling markups, markdowns, shortages, turnover and stock levels. Larger retailers provide mores sophisticated merchandise information systems that allow quick and... (more...)
Feb 9, 2010 
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The function of buying for different types of organizations
The function of buying and merchandising varies from organization to organization. The role of the buyer and merchandiser would vary. Similarly, the levels within the hierarchy would also vary. Many a time, the job of a buyer... (more...)
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