Retailers are evolving rapidly in the last 10 years. Moreover, competition is becoming tougher, operations are getting more complicated and customers are being more selective. Retailers need to cope effectively with these changes and build more organized profitable businesses.
With this course, you will learn best practices, actionable solutions, tools, and techniques intentionally delivered for you to easily understand and implement in your own real-world. Discover a structured step-by-step process you can follow and apply immediately to your own category management
Earning this Category Management certificate gives you easy access to tools you will put to great use in your category initiatives and a great community of practitioners. Learners will have an opportunity to work on your own real-world program throughout the course.
WHO SHOULD ATTEND
- Business Owners
- Commercial Managers
- Category specialists/Managers
- Purchase specialists/Managers
- Marketing specialists/Managers
- Brand Managers
By the end of this course, the learner will be able to:
- Build a comprehensive category dashboard
- Build Master Data Files including Item, Store, and Vendor Master Files.
- Set effective assortment Plans.
- Contribute to setting optimal inventory plans.
- Build a full penetration matrix.
- Set visual merchandizing plans and planograms
- Set an integrated category promotional plan.
Step 1: Retailize Your thinking
Retailization is about putting customer experience at the core of all business decisions. In this step, you will identify retail contact points that create the customer experience. You will learn what is category management and how does it contribute to the retailer image and business performance?
Step 2: Assess Your category
Products, customers, competitors, and the market are all important elements of the retail game. In this step, you will learn how to evaluate the performance of your category and business using a set of measures that will help you gain an insightful understating of the business.
Step 3: Build Your Master Data
Accurate, organized data is critical for effective business decisions making. In this step, you will learn how to organize your data and build effective master data files including Item Master file (IMF), Store Master File (SMF), and Vendor Master File (VMF).
Step 4: Optimize Your Assortment
Keeping, adding, and removing items to your merchandise mix is a critical decision that affects your business financials and ROI. In this step, you will learn how to follow a systematic approach to optimize your assortment in a way that will help you achieve your category financial objectives while attaining your customer’s satisfaction
Step 5: Plan Your Inventory
Shelf availability is a double-sided weapon for retailers. On one side it reflects how this retailer is perceived as dependable by customers. On the other side, the inventory level has a dramatic impact on business financials, turnover, and profits.
In this step, you will learn how to follow a systematic approach that will help you optimize your inventory in a way that will help you achieve your category financial objectives while maintain the optimum shelf availability to attain Customer satisfaction and engagement.
Step 6: Seed Your Merchandise
In this step, you’ll learn how to follow a systemic approach to effectively build a penetration matrix that will help you put the right item in the right quantity at the right store and avoid wasting inventory.
Step 7: Display Your Merchandise
Product display is an essential element that presents your products’ features and promotes their sales. In this step, you will learn the concepts and techniques that you will help you display your products in a way that will promote purchases while creating a memorable shopping experience for your customers. Besides, you will learn how to combine your organizational resources with the suppliers’ resources to achieve your promotional objectives.
Step 8: Promote Your Category
In this step, you will learn a variety of promotional tactics and initiatives that will help you promote your category sales and engage your customers.
Step 9: Review Your Category Performance
Track and review your category progress after implementing the plans and tactics you learned in the previous steps, to apply the required modifications if needed, and allign your managers. Finally, capture your work and learned lessons in your “Category Manual” .
Finally, celebrate your success and don’t forget to join our community to enjoy chatting with other retailors.