8 hard skills or competencies (industry competencies) for Merchandise Buyer, Sr.
Skill definition-Applying comprehensive knowledge of retail principles, inventory management, pricing strategies, and consumer behavior to effectively manage and operate retail businesses.
Level 1 Behaviors
(General Familiarity)
Lists diverse activities and functions of retailing including buying, advertising, and data processing.
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Level 2 Behaviors
(Light Experience)
Records and reports customer feedback to assist in optimizing retail offerings and improving service quality.
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Level 3 Behaviors
(Moderate Experience)
Utilizes advanced software and technology to automate and optimize retail operations.
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Level 4 Behaviors
(Extensive Experience)
Oversees inventory control and supply chain processes to ensure optimal stock levels and minimize costs.
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Level 5 Behaviors
(Mastery)
Leads omnichannel optimization initiatives to ensure a seamless and integrated customer journey.
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Skill definition-Strategically planning, executing, and managing product merchandising, pricing, and promotions to increase customer engagement and maximize revenue.
Level 1 Behaviors
(General Familiarity)
Explains how effective merchandising can increase sales, generate revenue, and improve brand awareness.
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Level 2 Behaviors
(Light Experience)
Helps in arranging merchandise displays adhering to a planogram and precise brand guidelines.
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Level 3 Behaviors
(Moderate Experience)
Utilizes analytics and sales data to optimize and improve online and offline merchandising performance.
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Level 4 Behaviors
(Extensive Experience)
Monitors and controls inventory levels to estimate purchase reorders of merchandise accurately.
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Level 5 Behaviors
(Mastery)
Establishes and implements SOPs to optimize organizational merchandising operations.
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3 general skills or competencies (Job family competencies) for Merchandise Buyer, Sr.
Skill definition-Managing and analyzing financial data in determining and reducing business expenses to increase revenue and profitability.
Level 1 Behaviors
(General Familiarity)
Explains the application of financial principles for effective cost control.
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Level 2 Behaviors
(Light Experience)
Supports financial report analysis and cost control related to company operations.
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Level 3 Behaviors
(Moderate Experience)
Partners with the management to identify corrective actions to improve cost control risks.
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Level 4 Behaviors
(Extensive Experience)
Monitors the alignment of operational costs with relevant budgetary and cost controls of the organization.
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Level 5 Behaviors
(Mastery)
Improves the management's cost control to optimize business decision-making processes.
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Skill definition-Developing techniques and processes to manage the distribution and determine the appropriate course of action for returned products.
Level 1 Behaviors
(General Familiarity)
Identifies the common issues our organization encounters when performing reverse logistics.
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Level 2 Behaviors
(Light Experience)
Reports reverse logistical issues and problems during the transportation and distribution of returned products.
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Level 3 Behaviors
(Moderate Experience)
Performs data analysis to identify issues and improvement opportunities for the reverse logistic process.
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Level 4 Behaviors
(Extensive Experience)
Manages the resolution of inventory issues to minimize cost and prevent value loss from returned items.
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Level 5 Behaviors
(Mastery)
Leads the organization in technology integration to help automate reverse logistic processes and enhance data accuracy.
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10 soft skills or competencies (core competencies) for Merchandise Buyer, Sr.
Skill definition-Ability to plan and organize activities, tasks, and resources to achieve business goals and objectives within timeframe and budget.
Level 1 Behaviors
(General Familiarity)
Cites examples of effective scheduling skills, including data entry, customer service, and appointment setting.
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Level 2 Behaviors
(Light Experience)
Documents different kinds of communications related to work schedules, such as memos, emails, and reports.
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Level 3 Behaviors
(Moderate Experience)
Administers phone calls and emails to respond to customers' inquiries regarding upcoming or scheduled appointments.
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Level 4 Behaviors
(Extensive Experience)
Collaborates with workforce management professionals to integrate scheduling optimization tools.
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Level 5 Behaviors
(Mastery)
Authorizes the planning schedules of companies and organizations that operate in various industries.
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Skill definition-Knowledge of and ability to apply a set of quantifiable measurements to determine how effectively an individual, team or organization is achieving a business objective.
Level 1 Behaviors
(General Familiarity)
Cites examples of KPIs applied at individual, team, and organizational levels.
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Level 2 Behaviors
(Light Experience)
Assists in KPI analysis and patterns discovery to support management in decision making.
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Level 3 Behaviors
(Moderate Experience)
Communicates KPI-related initiatives such as what, why, and how to ensure transparency.
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Level 4 Behaviors
(Extensive Experience)
Consults on using KPI for business review and forecasting.
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Level 5 Behaviors
(Mastery)
Champions the adoption of KPI-based management to promote high-performance culture.
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Summary of Merchandise Buyer, Sr. skills and competencies
There are 8 hard skills for Merchandise Buyer, Sr., Retail Industry, Merchandising, Merchandise Quality and Compliance, etc.
3 general skills for Merchandise Buyer, Sr., Cost Control, Reverse Logistics, Strategic Sourcing.
10 soft skills for Merchandise Buyer, Sr., Scheduling, Key Performance Indicators (KPI), Financial Acumen, etc.
While the list totals 21 distinct skills, it's important to note that not all are required to be mastered to the same degree. Some skills may only need a basic understanding, whereas others demand a higher level of expertise.
For instance, as a Merchandise Buyer, Sr., he or she needs to be skilled in Scheduling, be skilled in Key Performance Indicators (KPI), and be skilled in Financial Acumen.