GMG is a global well-being company retailing, distributing and manufacturing a portfolio of leading international and home-grown brands across sport, food and health sectors. Its vision is to inspire people to win in ways that make the world better. Today, GMG’s investments span across four key verticals: GMG Sports, GMG Food, GMG Health, and GMG Consumer Goods. Under the ownership and management of the Baker family, it has become a leading global company, affiliated with the world’s most successful and respected brands in the well-being sector. Working across the Middle East, North Africa, and Asia, GMG has introduced more than 120 brands into its markets.
Merchandise planning is aimed at a systematic approach for planning and controlling the inventory and sales of the product range to increase the sales and minimize the losses by forecasting the future trends in the market.
Planning: To develop plans by working out replenishment strategies to make the business yield more profits
- Management: He should maintain contacts with the vendors in order to ensure timely delivery of the goods and make sure that the inventory plans are executed to meet the required standards. He should maintain records and update them to support the business requirements
- Production Management: He should partner with several merchants to forecast the future trends. He should establish, maintain and predict the exact demand and ensure that the products are delivered on time. He should also make sure that there are no shortages at the distributor or warehouse level. He should work out effective strategic plans so as to liquidate products in a profitable way
- Financial Planning: He should manage and develop effective weekly, monthly, quarterly and yearly merchandise plans. He should assist in communicating comprehensive product and financial strategies. He is also involved in the pricing procedures in order to achieve the goals set by an organization. He should be able to analyze the trends based on the historic performance and should keep himself updated with the latest trends in the market. This in turn will enable him to forecast the future trends to increase the sales.
About the requirements:
The minimum educational requirement for an associate merchandise planner is a bachelor's degree in operations, finance, business or retail management. A demonstrated merchandising experience will prove to be an edge over the competitors.