Rags to riches

@Dhi:In the fourth of a series, McKenzie Consulting senior consultant Liz Pearson profiles the role of a senior buyer.

Position overview
The role of a senior buyer involves buy and planning a range of product that will enable a department or division to achieve set sales plans, intake margins, planned markdowns and overall gross profit aligned to customer profile.

Requirements
Senior buyers need several key competencies. These include: an understanding of buying and planning principles, an understanding of retail arithmatic, an understanding of the buying timetable to ensure deliveries meet the required deadlines. They also need to be able to facilitate innovation in the company's product mix, contribute to the development of the workplace learning environment, managed operations to achieve required outcomes, participate in and/or lead and facilitate work teams, enable win/win beneficial supplier relations and provide leadership in the workplace.

Training
Most buyers have worked in the retail environment. Some commenced their retail career on the shop floor and learnt from the ground up. Others got their start through a cadetship program, however these are not always available. Ideally, buyers will have obtained a tertiary diploma qualification in either retail or business management.

It would ideally suit people who
Are product-driven, financially astute, have good consumer understanding and are able to make choices based on commercial awareness not personal choice. It would also suit people who have a love of fashion, innovation and change, are dynamic, have a strong personal fashion sense, are logical thinkers, are confident, have an ability to conceptualise, an ability to take initiative, an eye for detail and who are good communicators.

Remuneration
Depending on experience, a senior buyer can expect to command a salary of anywhere between $95,000 and $180,000 per annum, plus super, a car or car allowance and a bonus. Most jobs involve extensive travel overseas to Europe, Asia and the US to trade fairs and shopping centres for ideas and trends.

What next
Successful buyers in the ideal retail environment can become buying manager of a product category or general managing-buying and merchandise whereby they oversee activity of other buyers and are responsible for their successes (and failures). Most see the role as a buyer as the best and most rewarding one can have in a retail head office. And they are right. However, it can be very stressful with regular travel overseas to keep up with trends and forecasting for the market they are involved in. It's not just about product selection, it's also about price, negotiation, delivery and profit for the business.