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LEARNING OBJECTIVES
Centralised
Dedicated
personnel
Buyers control large sums of money
Buyers interact with other people who are involved with
RPM
internal
sales data
trade publications
consumer publications, special interest mags.
suppliers
market research
competitor analysis
Table
Buy Class
Stages
Recognition of
retail customer
need
Write specification
of product to
satisfy need
Search for supplier
to produce
specified product
Select supplier
New task
Modified re-buy
Straight re-buy
Yes
No
No
Yes
Maybe
No
Yes
Maybe
No
Yes
Maybe
No
Specify order
Yes
Yes
Yes
Evaluate
performance of
product and
supplier
Yes
Yes
Yes
LIMITATIONS OF TRADITIONAL
BUYING PROCESS MODELS
CONSUMER-LED RETAIL
PRODUCT MANAGEMENT
Aims to more closely link head office planning
with retail outlet (e.g. store) activities
Reacting and responding to customers
purchasing; anticipating future needs through
research and analysis (pull rather than push
approach)
Brings management of demand close to
management of supply
Buying
&M
Marketing
= Flow of products
= Flow of information
Logistics
Stores
Finance
Property
Non-Store
Operations
Human
Resource
Management
International
Operations
International
Distribution
Centre
Call Centre
Suppliers
Customers
Stores
&
Buying power
Buyers become
specialists
Aggregated sales
data for better
forecasting
Control
Consistency
Store personnel free
DISADVANTAGES
Price negotiation
Work with marketing team on promotions
estimating sales
planning deliveries
distributing products to stores
sales analysis
budget planning
profit margin analysis
implementation of price reductions
allocates
stock to outlets
THEORETICAL ROLE
user
RETAIL ROLE
influencer
merchandise director
merchandise manager or
assistant buyer
buyer
decider
gatekeeper
DESIRABLE ATTRIBUTES IN
RETAIL PRODUCT MANAGERS
Analytical
Good communicator
Objective
Product knowledge
Degree
Degree of
Centralization
Organizational
Breadth
Personnel Resources
Functions Performed
Staffing
Formal
Informal
Centralized
Decentralized
General
Specialized
Internal
External
Resident Buying Office
Cooperative buying
Merchandising
Buying
Buyer(buying only)
Sales manager
Buyer(merchandising)
Innovativeness
Plans
Assortment
Forecasts
Merchandise
Plan
Allocation
Brands
Timing
Supply base
A narrow supply base
A broad supply base
How many
suppliers
Advantages
Few Suppliers
High dependence
High stock out risk
Hard to replace if
service fails
Low dependence
Low stock out risk
Easier to replace if
service fails
Many Suppliers
Disadvantages