Skills & Competencies for Merchandise Buyer

Merchandise Buyer job profile

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JOB SUMMARY for Merchandise Buyer

Selects merchandise for order, places order, and stays involved in inventory distribution.

JOB RESPONSIBILITIES for Merchandise Buyer

Reviews success of previous orders to determine extent to which inventory should be replenished. Researches new trends or advances in product lines to make appropriate buying decisions.

Merchandise Buyer SALARY RANGE

BASE 50%
$104,795
TOTAL 50%
$113,503
Job Level
P03
Job Code
SM15000257
Education/Degree
Bachelor's Degree
Reports To
Supervisor or Manager

Merchandise Buyer Skills and Competencies List

Proficiency Levels and Behavioural Indicators
Salary.com identifies five increasing levels of proficiency for each skill/competency. Some jobs require only a relatively low level of proficiency in each skill/competency, while other jobs will require a more advanced level of proficiency in the same skill/competency. These levels rate the degree of proficiency (skill level, expertise) we expect the incumbent to perform in the given skill/competency for the given job. Note that we intentionally do not associate timeframes or years of experience in performing the skill/competency because that can be misleading. Proficiency levels identify what the incumbent knows and can do rather than how long they have been doing it. Also, note that the proficiency levels are cumulative, e.g., a level 4 proficiency implies the ability to perform all the behaviors at the lower levels.
Check each Merchandise Buyer skill and competencie below to view definitions.
INDUSTRY COMPETENCIES JOB FAMILY COMPETENCIES CORE COMPETENCIES
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9 hard skills or competencies (industry competencies) for Merchandise Buyer

1 Industry Competency – Retail Industry
Proficiency Level -2
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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2 Industry Competency – Merchandising
Proficiency Level -2
Skill definition-Strategically planning, executing, and managing product merchandising, pricing, and promotions to increase customer engagement and maximize revenue.
Level 1 Behaviors
(General Familiarity)
Discusses the use and importance of web analytics for improving online merchandising strategies.
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Level 2 Behaviors
(Light Experience)
Documents and reports to management identified merchandise stock discrepancies, damage, or other issues.
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Level 3 Behaviors
(Moderate Experience)
Uses advanced inventory management tools to monitor and optimize the stock levels of products.
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Level 4 Behaviors
(Extensive Experience)
Leads the planning and execution of merchandise promotional activities to drive sales and generate revenue.
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Level 5 Behaviors
(Mastery)
Develops and publishes advanced research on innovative merchandising techniques, strategies, and theories.
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3 Merchandise Buyer - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Merchandise Buyer
Proficiency Level - 4
5 Competency for - Merchandise Buyer
Proficiency Level - 5

5 general skills or competencies (Job family competencies) for Merchandise Buyer

1 Job Family Competencies – Service Delivery
Proficiency Level -2
Skill definition-Creating and implementing innovative strategic plans and solutions to address customer concerns and needs and meet service delivery expectations.
Level 1 Behaviors
(General Familiarity)
Discusses the end-to-end delivery process for various services provided by the business.
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Level 2 Behaviors
(Light Experience)
Collects feedback from customers to track and ensure seamless delivery of services.
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Level 3 Behaviors
(Moderate Experience)
Evaluates the performance of teams in providing quality services to customers.
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Level 4 Behaviors
(Extensive Experience)
Guides and trains teams in maximizing operational opportunities that promote outstanding service delivery.
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Level 5 Behaviors
(Mastery)
Develops a service delivery framework that adapts to the changing industry practices of customer service.
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2 Job Family Competencies – Cost Control
Proficiency Level -2
Skill definition-Managing and analyzing financial data in determining and reducing business expenses to increase revenue and profitability.
Level 1 Behaviors
(General Familiarity)
Discusses how to control costs and keep other expenses within budget.
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Level 2 Behaviors
(Light Experience)
Supports cost control initiatives throughout the organization.
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Level 3 Behaviors
(Moderate Experience)
Makes cost-effective decisions dealing with outside vendors to control expenditures.
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Level 4 Behaviors
(Extensive Experience)
Manages and oversees all cost control aspects for a large-scale project from inception to completion.
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Level 5 Behaviors
(Mastery)
Generates and establishes strict cost controls for all company spending in alignment with the budget.
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3 Merchandise Buyer - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Merchandise Buyer
Proficiency Level - 4
5 Competency for - Merchandise Buyer
Proficiency Level - 5

10 soft skills or competencies (core competencies) for Merchandise Buyer

1 Core Competencies – Scheduling
Proficiency Level -3
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)
Discusses the importance of scheduling, which includes achieving a good work-life balance.
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Level 2 Behaviors
(Light Experience)
Records employee availability to increase attendance at scheduled meetings.
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Level 3 Behaviors
(Moderate Experience)
Prepares staffing forecast dashboards as well as comparative data on results versus forecasts.
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Level 4 Behaviors
(Extensive Experience)
Manages travel arrangements or schedules, such as booking flights and making hotel or restaurant reservations.
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Level 5 Behaviors
(Mastery)
Creates strategies and objectives to improve the functional infrastructure of general workforce scheduling.
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2 Core Competencies – Key Performance Indicators (KPI)
Proficiency Level -3
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)
Describes the concepts and purposes of Key Performance Indicators (KPI).
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Level 2 Behaviors
(Light Experience)
Gathers internal and external benchmarks for KPI development.
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Level 3 Behaviors
(Moderate Experience)
Interprets and analyses KPI data to recommend courses of action.
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Level 4 Behaviors
(Extensive Experience)
Evaluates ongoing productivity; recommends corresponding modifications on KPIs as indicated.
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Level 5 Behaviors
(Mastery)
Establishes organizational Key Performance Indicators (KPI) frameworks and management processes.
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3 Merchandise Buyer - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Merchandise Buyer
Proficiency Level - 4
5 Competency for - Merchandise Buyer
Proficiency Level - 5

Summary of Merchandise Buyer skills and competencies

There are 9 hard skills for Merchandise Buyer, Retail Industry, Merchandising, Merchandise Quality and Compliance, etc.
5 general skills for Merchandise Buyer, Service Delivery, Cost Control, Reverse Logistics, etc.
10 soft skills for Merchandise Buyer, Scheduling, Key Performance Indicators (KPI), Financial Acumen, etc.
While the list totals 24 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, he or she needs to be skilled in Scheduling, be skilled in Key Performance Indicators (KPI), and be proficient in Financial Acumen.

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