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)
Defines the importance of effective merchandising strategies in boosting retail sales and profit margins.
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Level 2 Behaviors
(Light Experience)
Assists customers with product inquiries by providing information about features, pricing, and availability.
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Level 3 Behaviors
(Moderate Experience)
Addresses intricate complaints and concerns effectively to ensure customer satisfaction and retention.
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Level 4 Behaviors
(Extensive Experience)
Contributes to the development of retail pricing strategies to maximize profitability and competitiveness.
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Level 5 Behaviors
(Mastery)
Champions the adoption of predictive analytics to optimize pricing, inventory management, and marketing strategies.
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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)
Cites examples of common merchandising techniques for ensuring consistent brand presentation.
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Level 2 Behaviors
(Light Experience)
Aids in compiling market research to identify trends and ensure the effectiveness of merchandising strategies.
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Level 3 Behaviors
(Moderate Experience)
Analyzes customers' feedback to improve product assortment and pricing plans.
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Level 4 Behaviors
(Extensive Experience)
Coordinates with vendors and buyers to ensure timely delivery and optimal placement of merchandise.
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Level 5 Behaviors
(Mastery)
Builds relationships with strategic partners to secure access to superior merchandise offerings, data, and terms.
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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)
Cites examples of constraints and benefits in service delivery.
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Level 2 Behaviors
(Light Experience)
Applies various communication styles in providing our services to customers.
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Level 3 Behaviors
(Moderate Experience)
Communicates with any disgruntled customers to win back their trust and business.
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Level 4 Behaviors
(Extensive Experience)
Creates innovative strategies to address reliability issues and optimize service delivery process.
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Level 5 Behaviors
(Mastery)
Conceptualizes effective staffing and scheduling patterns to uphold our quality of service delivery.
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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)
Cites processes, procedures, principles, and practices of cost control.
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Level 2 Behaviors
(Light Experience)
Assists in maintaining cost control by monitoring department expenditures.
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Level 3 Behaviors
(Moderate Experience)
Implements cost control initiatives to influence the organization's bottom line in each region positively.
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Level 4 Behaviors
(Extensive Experience)
Creates cost control measures to facilitate the financial well-being of the department.
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Level 5 Behaviors
(Mastery)
Builds cost control processes to ensure plans and business goals are in alignment.
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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)
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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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)
Follows up on regular action items related to KPI implementation.
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Level 3 Behaviors
(Moderate Experience)
Defines KPIs in terms of Specific, Measurable, Achievable, Realistic, and Timely (SMART) goal criteria.
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Level 4 Behaviors
(Extensive Experience)
Develops and delivers training programs on KPI practices to employees and managers.
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Level 5 Behaviors
(Mastery)
Defines and modifies strategic KPIs to drive organizational objectives and priorities.
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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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