Skills & Competencies for Merchandise Planner

Merchandise Planner job profile

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JOB SUMMARY for Merchandise Planner

Plans and forecasts for future merchandise buys based on historical buys, reoccurring buys and current inventory levels.

JOB RESPONSIBILITIES for Merchandise Planner

Responsible for reviewing stock to sales ratios, responding to changing sales trends, and ensuring plan sales, plan markups, and plan markdowns are achieved by departments. Plans and coordinates merchandise flow-through. Inputs and maintains data in various merchandising systems.

Merchandise Planner SALARY RANGE

BASE 50%
$78,573
TOTAL 50%
$82,262
Job Level
P02
Job Code
SM15000260
Education/Degree
Bachelor's Degree
Reports To
Supervisor or Manager

Merchandise Planner 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 Planner skill and competencie below to view definitions.
INDUSTRY COMPETENCIES JOB FAMILY COMPETENCIES CORE COMPETENCIES
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6 hard skills or competencies (industry competencies) for Merchandise Planner

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)
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 Merchandise Planner - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Merchandise Planner
Proficiency Level - 4
5 Competency for - Merchandise Planner
Proficiency Level - 5

3 general skills or competencies (Job family competencies) for Merchandise Planner

1 Job Family Competencies – Financial Planning
Proficiency Level -2
Skill definition-Allocating financial resources and developing business strategies.
Level 1 Behaviors
(General Familiarity)
Identifies the importance of the basic financial planning concepts and cycles.
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Level 2 Behaviors
(Light Experience)
Determines partners financial planning and reporting needs to meet their needs.
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Level 3 Behaviors
(Moderate Experience)
Tracks client revenues related to financial planning work to ensure maximized sales opportunities.
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Level 4 Behaviors
(Extensive Experience)
Manages the company's financial planning process to achieve its strategic goals and objectives.
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Level 5 Behaviors
(Mastery)
Establishes and improves existing financial planning and forecasting in all organizations.
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2 Job Family Competencies – Promotion
Proficiency Level -2
Skill definition-Developing and implementing promotional activities to attract and increase the awareness of customers in buying products.
Level 1 Behaviors
(General Familiarity)
Lists the basic techniques used in executing promotion in the marketing sector.
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Level 2 Behaviors
(Light Experience)
Shows potential customers how a product or service works.
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Level 3 Behaviors
(Moderate Experience)
Implements promotional activities in accordance with the set budget.
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Level 4 Behaviors
(Extensive Experience)
Manages various promotional initiatives such as direct marketing and sales promotion.
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Level 5 Behaviors
(Mastery)
Establishes a metric system to evaluate the effectiveness of major promotional efforts.
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3 Merchandise Planner - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Merchandise Planner
Proficiency Level - 4
5 Competency for - Merchandise Planner
Proficiency Level - 5

8 soft skills or competencies (core competencies) for Merchandise Planner

1 Core Competencies – Scheduling
Proficiency Level -2
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)
Lists ways to improve scheduling skills, including setting deadlines, using a planner and delegating tasks.
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Level 2 Behaviors
(Light Experience)
Reports the changes in scheduled appointments for management to review.
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Level 3 Behaviors
(Moderate Experience)
Uses organizational workforce models to determine schedules that meet operational commitments.
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Level 4 Behaviors
(Extensive Experience)
Organizes calendars for department personnel to set meetings, conferences, teleconferences, and travel.
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Level 5 Behaviors
(Mastery)
Designs an organizational timetable to keep track of all scheduled activities of employees.
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2 Core Competencies – Key Performance Indicators (KPI)
Proficiency Level -2
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)
Explains the benefits and risks of using KPIs.
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Level 2 Behaviors
(Light Experience)
Identifies KPIs currently in use and provides input to management.
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Level 3 Behaviors
(Moderate Experience)
Maintains an organized data management process to track progress on KPIs.
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Level 4 Behaviors
(Extensive Experience)
Leverages the Business Intelligence (BI) technologies and tools for KPI reporting and analysis.
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Level 5 Behaviors
(Mastery)
Monitors the efficiency and effectiveness of current organizational KPI architecture.
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3 Merchandise Planner - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Merchandise Planner
Proficiency Level - 4
5 Competency for - Merchandise Planner
Proficiency Level - 5

Summary of Merchandise Planner skills and competencies

There are 6 hard skills for Merchandise Planner, Retail Industry, Merchandising, Category Management, etc.
3 general skills for Merchandise Planner, Financial Planning, Promotion, Inventory Control.
8 soft skills for Merchandise Planner, Scheduling, Key Performance Indicators (KPI), Attention to Detail, etc.
While the list totals 17 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 Planner, he or she needs to be proficient in Scheduling, be proficient in Key Performance Indicators (KPI), and be proficient in Attention to Detail.

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