Unit of competency Outline

Date retreived
23/07/2026 2:22 AM AWST

Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.

Develop a merchandise strategy

Develop a merchandise strategy

Unit of competency
National Code
SIRRMRM002
State Code
BBB65
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
16/08/2017
View on TGA
State Implementation and Classification
Approved Date
14/12/2017
Field of Education
080505 - Marketing
Original Release Date
14/12/2017
Nominal Hours
55
Description
This unit describes the performance outcomes, skills and knowledge required to develop a merchandise strategy that reflects the strategic objectives of a retail organisation. It requires the ability to research and critically evaluate both internal and external factors impacting merchandise performance, develop a merchandise strategy and evaluate its effectiveness. This unit applies to individuals working in merchandise management related roles in a diverse range of retail sectors and business contexts. They operate with independence and are responsible for making a range of operational business decisions that relate to the management of retail merchandise. No occupational licensing, certification or specific legislative requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Analyse the operating environment.
  • 1.1. Access and review organisational strategic objectives and determine organisational priorities for merchandise performance in consultation with relevant personnel.
  • 1.2. Access and review existing and previous merchandise strategies and available performance data to inform strategy development.
  • 1.3. Research trends in merchandise management and use findings to inform strategy development.
  • 1.4. Analyse internal and external operating environments to identify opportunities and risks related to merchandise performance.
2. Develop merchandise strategy.
  • 2.1. Identify key priorities and objectives of the merchandising strategy based on analysis of the operating environment.
  • 2.2. Confirm merchandise strategy is consistent with the direction and objectives of the organisation.
  • 2.3. Confirm strategy execution can be supported by organisational structures and resourcing.
  • 2.4. Establish performance criteria to evaluate merchandise strategy performance.
  • 2.5. Ensure strategy can be adapted in response to environmental opportunities and threats.
  • 2.6. Develop a strategy action plan detailing key activities, responsibilities and timeframes.
  • 2.7. Obtain input from relevant personnel and make adjustments to strategy based on feedback received.
  • 2.8. Finalise merchandise strategy and gain required approval.
  • 2.9. Communicate merchandise strategy and action plan to relevant personnel.
3. Review merchandise strategy.
  • 3.1. Obtain feedback from relevant stakeholders regarding merchandise performance.
  • 3.2. Evaluate merchandise strategy against performance criteria.
  • 3.3. Use findings to make informed conclusions about merchandise performance and make recommendations for future improvements.
No information
No information
No information
State Code National Code Title Type
AD720 SIRSS00017 Merchandise Management Skill set
BDJ6 SIR50317 Diploma of Retail Merchandise Management Qualification