16 Merchandise Planner Skills for Your Career and Resume

Merchandise planners are responsible for creating and executing plans that will ensure the right product is in the right place at the right time. This role requires a mix of analytical and creative skills to be successful. If you’re interested in becoming a merchandise planner, it’s important to understand the skills that are necessary for the job.

Flexibility

Flexibility is the ability to adapt to changing circumstances. As a merchandise planner, you may need to change your original plan if it doesn’t work out or if new information becomes available. For example, if sales of one product increase while another decreases, you might decide to alter your production schedule and produce more of the former product.

Supply Chain Management

Supply chain management is the process by which companies receive and store their inventory. It’s important for a merchandise planner to have knowledge of supply chain management because it allows them to understand how products are received, stored and shipped throughout the production process. This can help them make informed decisions about where to source materials and how to manage inventory levels.

Category Management

Category management is the process of dividing products into groups based on their similarities. For example, a retailer may have several departments, such as home goods and electronics, that each contain many different product types. A merchandise planner who has strong category management skills can organize these sections to make it easier for customers to find what they’re looking for. They also know how to track inventory levels by category so they can reorder when necessary.

Merchandising

Merchandising is the process of displaying products in a way that encourages customers to buy them. Merchandise planners use their merchandising skills when creating displays and presentations for buyers, suppliers or other stakeholders. They also use these skills when designing store layouts and product displays.

Organization

Organization is the ability to keep track of multiple tasks and responsibilities. As a merchandise planner, you may be responsible for managing several projects at once, so it’s important to have strong organizational skills. This can help you stay on top of deadlines, ensure that all your team members are aware of any changes in plans or assignments and maintain records of past projects for future reference.

Analytical Skills

Analytical skills are the ability to examine data and make logical conclusions. Merchandise planners use analytical skills when analyzing sales trends, inventory levels and customer demographics. This helps them determine what products their customers want and how much of each product they need in stock. It also allows them to predict if a new product will be successful or not.

Forecasting

Forecasting is the ability to predict future trends and needs. As a merchandise planner, you may need to forecast how many of each product your company should order from suppliers or how much inventory you need in storage. This can help ensure that you have enough products available when customers want them. It also allows you to plan for upcoming sales events and promotions so you can maximize profits.

Negotiation

Negotiation is the process of communicating with others to reach an agreement. As a merchandise planner, you may need to negotiate with suppliers and manufacturers to get the best prices on products or services. You can also use negotiation skills when working with clients to determine what types of products they want in their stores.

Retail Math

A merchandise planner uses retail math to calculate the cost of products and determine how much profit a company can make on each item. They also use this skill when creating displays, determining which items should be placed together and calculating discounts for customers. Merchandise planners often work with budgets and need to know how to track their expenses accurately.

Data Analysis

Data analysis is the ability to interpret and understand data. As a merchandise planner, you may need to analyze sales data or other information about your company’s products to determine what types of items are most popular with customers. You can then use this information to plan future product offerings that will appeal to consumers.

Demand Planning

Demand planning is the ability to predict future consumer demand for products. This skill can help a merchandise planner determine which items to order and how much of each item to purchase. For example, if you notice that consumers are buying a certain product more often than usual, you may want to increase your inventory of that product so you have enough on hand when customers place orders.

Financial Analysis

Financial analysis is the ability to interpret financial data and make informed decisions based on that information. As a merchandise planner, you may be responsible for forecasting sales trends and predicting how much inventory your company needs to order from suppliers. This requires strong financial analysis skills so you can predict what types of products will sell well and ensure your company has enough money to pay its bills.

Product Lifecycle Management

The product lifecycle management skill refers to the ability to track and analyze data related to a company’s products. This includes knowing how long each product typically remains in stock, when it’s most likely to sell out and what factors may influence its popularity. It also involves understanding how to optimize production schedules so that inventory levels remain consistent.

Communication

Communication is the ability to convey information in a way that others can understand. As a merchandise planner, you may need to communicate with other departments within your company and clients who purchase products from your company. Strong communication skills allow you to relay information clearly so everyone understands what you mean. You also might give presentations to groups of people, which requires excellent communication skills.

Inventory Management

Inventory management is the ability to track and maintain an adequate supply of products. As a merchandise planner, you may be responsible for forecasting product demand and ordering supplies accordingly. This requires attention to detail when recording inventory levels and knowing how much of each item to order. It also involves ensuring that your company has storage space available for incoming shipments.

Problem Solving

Problem solving is the ability to identify and resolve issues. As a merchandise planner, you may need to solve problems that arise during production or when implementing new strategies. For example, if sales are low for one product line, you might use your problem-solving skills to find ways to increase interest in those products. This could involve changing the display location of the products or offering discounts on them.

How Can I Learn These Merchandise Planner Skills?

There are a few ways that you can learn the necessary skills to become a merchandise planner. Many of these skills, such as supply chain management, category management, and merchandising, can be learned through on-the-job training or through specialized courses offered by colleges and universities. Other skills, such as retail math, data analysis, and financial analysis, can be learned through self-study, online courses, or through specialized certification programs.