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  1. 1Definition of Buying“Buying is the business activity that involves selecting and purchasing products to satisfy the wants and needs of consumers"(Clodfelter, 2008).
  2. 2Definition of a Retail Buyer"Retail buyers are responsible for overseeing the selection of a range of products aimed at a specific type of customer and price bracket" (Goworek, 2015).
  3. 3Range Plan Definition"The range plan is the process by which the buyer, merchandiser, designer and technologist prepare for selection." (Tarratt, 2015).
  4. 4Personal Characteristics of Buyers according to Jackson and Shaw (2001)1. commercial
    2. multi-tasking flexibility
    3. retentive memory
    4. positive approach to problems/criticism
    5.consistent temperament
  5. 5According to Varley (2006) buyers need to possess which skills?1. Analytical
    2. Objectivity
    3. product knowledge
    4. Formal Qualifications
    5. Communication
  6. 6Explain the traditional and widened supplier-retailer interface.Traditional: Buyer and Account Manager have a relationship and represent all other departments.
    Widened: Similar departments of both the retailer and supplier communicate with each other e.g. supply chain with logistics department.
  7. 7Own-Label buyer responsibilities1. Directional Shopping
    2. Liaison with designers (within retail and suppliers)
    3. Liaison with product technologists (QA)
    4. Selection of colour, fabric and style prior to manufacturing.
    5. monitoring product's critical path at pre-production stage.
  8. 8Responsibilities of Own-Label AND Branded buyers1. Comparative Shopping
    2. Forecasting Trends
    3. Market Research
    4. Visiting Trade Fairs
    5. Range Planning
    6. Product Selection
    7. Liaison with supplier & internal departments
    8. Product Pricing and Negotiation
    9. Reacting to sales figures via repeat order and mark-downs
    10. Managing and Recruiting Junior staff
    11. Meeting Financial Targets
    12. Contact with store sale staff (varying extents)
  9. 9Branded Merchandise Buyer's Responsibility1. Monitoring product deliveries
    2. monitoring stock levels
  10. 10Own-Label Buying Cycle (rtsrbpfp)1. Review Sales Figures
    2. Trend Forecasting/Material Sourcing
    3. Shopping Trips
    4. Range Planning
    5. Buying Trips
    6. Pre-selection
    7. Final Selection
    8. Prototype approval/ testing
  11. 11Branded buying-cycle (rprppomm)1. Review season's performance
    2. Plan buying schedule & trips
    3. Range Planning
    4. Price negotiation and setting
    5. Processing orders
    6. Order Confirmation
    7. Monitoring Deliveries
    8. Monitoring Sales Figures
  12. 12What is included in a range plan?1. Reference Number
    2. Product Description
    3. Supplier
    4. Colourways
    5. Fabric Quality
    6. Size Range
    7. Cost Price
    8. Selling Price
    9. Quantity
  13. 13Challenges with global sourcing(Tarrat, 2015)
    1. Cultural differences, work ethic, religion
    2. Language
    3. Skill levels
    4. Education levels, training
    5. Power cuts
    6. Political Uncertainty
    7. Logistical Constraints (roads, only one major port, financing orders).
    8. Ethical Issues (child labour)
    9. Weather Conditions, Natural Disasters i.e. Earthquakes
    10. Strength of the manufacturing base
    11. Pricing Levels
    12. Building supplier relationships
    13. Risk Assessment
    14. Quality of Production
    15. Technical Expertise
  14. 14Advantages of global sourcing (for Next Plc)1. Large manufacturing units offering good capacity
    2. Flexibility to shift business where their opportunities are greater or quality is better.
    3. Time lines have improved over the years (especially from China where they are dependable in meeting critical path deadlines)
    4. Have more control through their own sourcing company, so can spread risk.
    5. Source from low cost countries (hidden expenses)
    6. More advanced technology
    7. create broader customer base
  15. 15Disadvantages of global sourcing (for Next Plc.)1. Cultural issues due to the wide variety in ways to conduct business over the globe
    2. Longer lead-times (more vulnerable to delays)
    3. lower quality in the outset (development)
    4. Thorough risk assessment must be carried out on the region
    5. time consuming and high investment to establish new country or supplier
  16. 16Role of buyer for branded and "designer" merchandise"Select finalised styles from other companies, sold under branded names, rather than shop's own label" (Goworek, 2015).
  17. 17Why is the price for branded merchandise higher than that of own-label merchandise?3 companies profit from the products:
    1. Brand (Design, Sales, Promotion)
    2. Manufacturer
    3. Retailer
    also, better materials and more design detail
  18. 18Buyers can select branded ranges from?1. Sales Agents
    2. Showrooms
    3. Trade Fairs
    4. Ready-to-wear fashion shows
  19. 19Examples of collaborations with high street retailers - own label ranges1. Rihanna for River Island
    2. Rosie Huntington-Whiteley’s for Autograph (M&S)
  20. 20Merchandiser Definition"Organise products to arrive in the right place in the right quantities at the right time" (Goworek, 2007)
  21. 21Responsibilities of Merchandisers1. Planning Budgets
    2. Deciding the number of lines within a range
    3. Selection meetings
    4. placing orders
    5. markdowns and repeat orders
    6. progress meetings
    7. reviewing sales figures
    (Goworek, 2007)
  22. 22Range Planning definition"The buyer needs to balance the range by taking into account various elements of product and price, always remember the range must appeal to the customer" (Goworek, 2015)
  23. 23Reasons for Global Sourcing1. Gain competitive advantage
    2. Increase quality requirements
    3. Better timelines (shift orders for quickest response)
    4. response to pressure to reduce overall cost
    5. broaden the supply base
    6. more advance technology or expertise
    7 exposure to overseas markets and opportunties
  24. 24Trade Show Definition"Trade shows are an organized gathering of suppliers, who present samples of products they are able to supply to retailers and take orders against those samples for supply at some stage in the future " (Varley, 2006). Usually held on product specific basis.
  25. 25Initial Assessment Criteria for suppliers1. Product Range and Technical Quality
    (product variety and quality standards available)
    2. Price and Delivery
    (value of product for price and deliver according to specifications)
    3. Service
    (way supplier adds value)
    4. General Qualitative Assessment
    (that relate to the general running of a supplier’s business - response to concern over ethical and environmental issues).
  26. 26Steps in development of supplier - retailer relationship according to Jobber (2006)1. Pre-relationship stage: evaluations of new potential supplier ( use Varley initial selection factors + references/visits)
    2. Early stage: Negotiation of trial.
    3. Development Stage: contract signed and delivery built up
    4. Long-term stage: several major purchases of large scale deliveries have been made.
    5. Final Stage: established patterns of trading
  27. 27Continuum of buyers supplier relationship developmentOne- Off Transaction → Repeated Transactions → Long-Term Relationship (On-going Transaction) → Partnership (Collaborative Systems) → Alliances (Franchises Licenses) → Vertical Integration
  28. 28Why is a buyer-supplier relationship necessary?1. for sourcing, purchasing and procurement on the part of the buyer's organisation.
    2. Buyers and suppliers work together more effectively when they collaborate for mutual benefit i.e. to increase turnover and profit in both organisations, rather than viewing themselves as opposing teams (Goworek, 2015).
  29. 29Range Widthvariety or product categories
  30. 30Range depthChoice provided within the product category
  31. 31Product Assortment StrategiesMcGoldrick (2002)
    1. Category Killer (Boots) - narrow width, deep depth
    2. Large Department stores (Debenhams) - broad and deep
    3. Convenience Stores (Tesco Express) - narrow and shallow
    4. General Discounter (Aldi) - wide and shallow
  32. 32Aim of Range Planprovide a balanced product assortment which meets or exceeds the needs and wants of its target customers i.e. balance of products, specific product designs, costs and selling prices and which suppliers to use
  33. 33What to consider when planning a range1. number of items
    2. proportion of different types of product
    3. specific product designs
    4. materials and colourways
    5. cost prices
    6. selling prices
    7. sizes
    8. which manufacturer to use
    9. order quantity per product
  34. 34Types of sustainable products1. made of sustainable materials (Bamboo bikes)
    2. Made of recycled materials (Freitag bags - old truck tarpaulins)
    3.Made of durable materials
  35. 35Sustainability Criteria"Sustainable products need to be fit for purpose, offering functional and aesthetic properties alongside sustainability" (Goworek, 2015)
  36. 36Product Development Process1. Research (historical, current, future)
    2. Generation of ideas (technical drawing - CAD)
    3. Sample production (prototype)
    4. preparation for mass production
  37. 37Iceberg TheoryHines (1998)
    On the surface of it global sourcing seems cheaper, but full prospective of what goes on with global sourcing (hidden costs e.g. procurement, management, time, plant visits, correction costs, lost sales, lost flexibility and response times)
  38. 38Directional Imbalancesarise when there is a mismatch in volumes moving in opposite directions (mangan et al. 2008)
  39. 39Back Sourcingmany companies are moving back to sourcing internally or locally so they can keep tighter control on efficiency, no cultural differences or time zones, no up front investments (Oshri, 2013)
  40. 40Order Qualifiersminimum requirements that a company must meet to be considered as a potential supplier e.g. reliability of delivery time, quality certifications, conformance to agreed specifications, etc.
  41. 41Order Winnersallow the supplier to actually be selected (cost-benefit trade-off)
  42. 42Steps in development of outsourcer and outsourcee1. Master-Servant Stage: deliver by stipulated norms (low cost driver)
    2. Consultative Stage : outsourcer consults with the outsourcee (quality, reliability and responsiveness)
    3. Peer-to-peer stage : ideal stage, collaboration
    4. Competitive stage : the original outsourcee company takes the lead role and start to compete with the outsourcing company in global markets
    (Mangan et al. 2008)

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Fichas sobre Sin título, creado por emma_tops el 26/05/2015.
Creado por
emma_tops · may 2015
Actualizado
19 feb 2016
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