Assortment management in Retail: the science and art of choosing and doing product management

Retailers face the enormous challenge of having to choose the right products to meet the needs and desires of their customers and thereby gain their preference for their stores in the face of so many choices in the marketplace.

Inappropriate products result in a high financial cost of inventory, pressure on buyers, and frustration of customers, who may eventually choose not to buy back at the store. Buyers live in the dilemma of making choices among so many product options available in the market and have a grueling routine of meetings, category performance reviews, store contact, and supplier negotiations.

This workshop offers a contemporary science insight into retail business management and category management. Successful cases, characteristics of the purchasing manager, and modern assortment management techniques will be presented, with practical exercises to help managers be more assertive in choosing products and increase sales and margins.