Merchandise Planner interview questions

A Merchandise Planner is responsible for forecasting sales and inventory needs to optimize company resources, developing plans to maintain stock levels, evaluating past sales trends, and ensuring product availability aligns with market demand.

I use a combination of historical sales data analysis, trend forecasting, and collaboration with sales and marketing teams to accurately predict future demand and adjust buying plans accordingly.

I start by analyzing past performance, assessing current inventory levels, and considering upcoming trends. I then collaborate with the buying team to align on seasonal goals and set financial targets, segmenting them by product category, store, and channel.

First, I conduct a thorough investigation to identify the cause of the discrepancy. I then work with other departments to resolve the issues, implement corrective measures, and update inventory records to maintain accuracy.

I ensure alignment by closely monitoring key financial metrics like sales, margins, and inventory turnover, and adjusting plans as necessary. I work closely with finance and operations teams to ensure that our objectives support the company's broader financial strategy.

I use a combination of ERP systems, business intelligence tools, and software like Excel for data analysis, scenario planning, and tracking inventory and sales performance.

For underperforming stock, I analyze the sales data to understand the causes, and then I develop strategies such as markdowns, promotions, or re-merchandising to improve sell-through rates. I also gather feedback to prevent similar issues in the future.

In a previous role, sudden changes in consumer preferences required us to quickly pivot our buying strategy. I worked with my team to analyze new trends and adjusted our merchandise plan by reallocating resources to meet the new demand. This agile response helped us capture market share and meet our sales targets.

Regular meetings, clear reporting, and collaborative planning sessions are key to effective communication. I ensure all stakeholders are informed of changes and updates through shared goals and open communication channels.

I employ several strategies for slow-moving inventory, such as bundling products, offering discounts, or optimizing store layouts to increase visibility. I also analyze why inventory is not moving and adjust future buying decisions to prevent excess.