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Pavitar Parkash Singh, Lovely Professional University                            Unit 1: The Buyer's Role




                                Unit 1: The Buyer's Role                                        Notes


            CONTENTS
            Objectives
            Introduction

            1.1  Role of Buyers
                 1.1.1  Determining the Scope of the Buyer’s Role
                 1.1.2  Duties and Responsibilities of Buyers

                 1.1.3  Personal Qualifications, Qualities, and Abilities for a Buying Career
                 1.1.4  Buyer’s Relationship with Management Personnel
            1.2  Evaluation of Buyers
                 1.2.1  Sales
                 1.2.2  Inventory Levels

                 1.2.3  Margin Results
            1.3  Summary
            1.4  Keywords

            1.5  Review Questions
            1.6  Further Readings

          Objectives

          After studying this unit, you will be able to:
              Determine the Scope of the Buyer’s Role

              Explain the Duties and Responsibilities of Buyers
              Discuss the Personal Qualifications, Qualities, and Abilities for a Buying Career
              Discuss the Evaluation of Buyers

          Introduction

          Anyone who has pursued a career oriented toward merchandising fully understands that the
          challenges demanded of him or her are significant. These individuals are on the firing line each
          and every day. The decision making required of the merchandisers must be accurate so that the
          company represented can turn an acceptable  profit. Within the ranks  of the merchandising
          division of the major stores are the general merchandise manager, several divisional merchandise
          managers, and a host of buyers. It is the buyer who has the ultimate responsibility for selecting
          merchandise from  the vast number of resources available for purchasing. When a consumer
          examines a variety of shoe styles for his or her own use, the ultimate decision may be difficult
          to make. Of course, the choice is a personal one, with no considerations other than self-satisfaction.
          When the professional buyer makes the final selections, personal satisfaction is not of paramount
          importance. Customer satisfaction and company profitability are the only barometers by which
          the purchases are judged. Thus, it is apparent that a great deal of the fate of the company is in the
          hands of the buyer.



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