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)
Identifies and explains the characteristics and key features of various retail business models.
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Level 2 Behaviors
(Light Experience)
Identifies and explains major operational issues and considerations.
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Level 3 Behaviors
(Moderate Experience)
Implements promotional activities to communicate the features and benefits of new products.
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Level 4 Behaviors
(Extensive Experience)
Monitors and optimizes retail operations to enhance productivity and cost-effectiveness.
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Level 5 Behaviors
(Mastery)
Explores the historical and future positioning of the organization in light of prevailing retail trends.
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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 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)
Enters the financial planning data in various software and databases.
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Level 2 Behaviors
(Light Experience)
Collects financial information and data to recommend and predict financial planning and operations.
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Level 3 Behaviors
(Moderate Experience)
Presents complex financial planning topics in an easy way for the client.
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Level 4 Behaviors
(Extensive Experience)
Creates financial scenario models for future business and financial planning decisions.
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Level 5 Behaviors
(Mastery)
Champions continuous efforts to improve financial planning.
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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)
Explains the principles of promotion and its importance to the marketing efforts.
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Level 2 Behaviors
(Light Experience)
Logs schedules for promotions in target accounts.
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Level 3 Behaviors
(Moderate Experience)
Helps senior management in developing promotional plans based on the product or service features.
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Level 4 Behaviors
(Extensive Experience)
Leads the execution of promotional initiatives in accordance with the key metrics.
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Level 5 Behaviors
(Mastery)
Develops effective and innovative strategies for project promotion.
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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)
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 -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)
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 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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