ADD ADVICE TO FAVBuyer / purchaser
Buyers / purchasers buy stock for resale in stores; this involves working with marketers, product developers and packaging designers, both within the retailer and in the supplying or manufacturing companies.
Alternatively, they buy ’not for resale’ goods, which may cover everything from purchasing till systems to managing contracts for electricity, distribution, and waste collection.
What buyers / purchasers do
- negotiate contracts with suppliers specifying quality, quantity and delivery schedules
- may work with suppliers to develop new products, and relaunch existing lines
- monitor market changes, competitor prices and products, and past sales patterns to forecast future demand
- source new products and alternative suppliers
- help control stock levels by varying delivery schedules or recommending clearance sales
- monitor the performance of product lines and suppliers, and, if necessary, terminate contracts.
Key skills for buyers / purchasers
- a high degree of commercial awareness
- ability to analyse statistics and spot trends
- verbal and written communication skills: foreign languages are increasingly useful
- negotiating skills
- teamworking and decision-making skills
- ability to work to tight deadlines
- willingness to travel and work independently.
Training to be a buyer / purchaser
Buyers normally join a retail company as graduate trainees, and move into buying after gaining experience training on the sales floor.
Professional qualifications in purchasing or marketing are valued in the industry.
Salaries for buyers / purchasers
Salaries have been increasing faster in recent years than those for other managers, so although starting salaries are usually in line with other retail disciplines and might be quite low, junior managers with professional qualifications can obtain £25,000 or more.
