Career Opportunities In Importing


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Career Opportunities In Importing

  1. 1. Career Opportunities in Importing Chapter 10
  2. 2. Career Opportunities in Importing <ul><li>In this chapter, you will learn: </li></ul><ul><ul><li>The diverse careers available in the area of importing </li></ul></ul><ul><ul><li>The various businesses involved in importing </li></ul></ul><ul><ul><li>The roles, skills, and responsibilities that occupations in importing involve </li></ul></ul>
  3. 3. Retail Buyer, Associate Buyer, Senior Assistant Buyer <ul><li>Buyers may purchase imported merchandise from: </li></ul><ul><ul><li>Buying offices with which their companies are associated </li></ul></ul><ul><ul><li>Manufacturers bases in the U.S. </li></ul></ul><ul><ul><li>Sales agents </li></ul></ul><ul><ul><li>Directly from factories located overseas </li></ul></ul><ul><ul><li>The services of Customs brokers </li></ul></ul><ul><li>If purchasing through buying offices, the buyer may travel to the office to attend import meetings once for spring and summer purchases and another time for fall and winter purchases </li></ul>
  4. 4. Retail Buyer, Associate Buyer, Senior Assistant Buyer <ul><li>Import purchases may be planned six months to a year in advance of desired shipping period </li></ul><ul><li>Buying through a buying office features benefit of combining quantity with others for advantageous volume pricing </li></ul><ul><li>Buying office representative is responsible for following up on production of merchandise selected by buyer for import </li></ul>
  5. 5. Retail Buyer, Associate Buyer, Senior Assistant Buyer <ul><li>Buyers may work with U.S. vendors who offer direct importing of merchandise to stores with the ability to purchase entire container loads </li></ul><ul><li>Buyers may select from in-line product or may develop exclusive customized goods </li></ul><ul><li>Manufacturers are responsible for overseeing production and ensuring quality of merchandise </li></ul>
  6. 6. Retail Buyer, Associate Buyer, Senior Assistant Buyer <ul><li>A buyer who does not belong to a buying office may choose to go through an agent to purchase merchandise </li></ul><ul><li>The agent assists the buyer in sourcing factories to produce merchandise and acts as a liaison for all transactions of the process </li></ul><ul><li>Agent communicates with factory to make certain the goods are produced to specification </li></ul>
  7. 7. Retail Buyer, Associate Buyer, Senior Assistant Buyer <ul><li>To be promoted to level of buyer, experience as assistant buyer and sales management are probably required </li></ul><ul><li>Associate buyers and senior assistant buyers may be given categories to buy under the direction of senior buyers </li></ul><ul><li>Buyer’s main role is to plan, manage, and attain the financial goal for the department </li></ul><ul><li>Buyer is responsible for achieving planned sales, markdowns, gross margin, and turnover </li></ul><ul><li>Buyer negotiates with vendors to select and monitor an assortment of appropriate domestic or imported merchandise for his or her area of responsibility </li></ul>
  8. 8. Qualifications <ul><li>2 or more years of experience in the buying office as an assistant or associate buyer is required to become retail buyer </li></ul><ul><li>Buyers must be proficient in strategic planning and forecasting, possess strong analytical ability, and exhibit excellent oral and written communication skills </li></ul><ul><li>Positions of associate buyer and senior assistant buyer require at least 18 months experience as assistant buyers </li></ul><ul><li>Associate buyers should be familiar with retail math formulas and demonstrate strong computer skills </li></ul>
  9. 9. Divisional Merchandise Manager (DMM) <ul><li>DMM is typically in charge of several similar departments of merchandise </li></ul><ul><li>Responsible for leading the strategic planning and meeting financial goals of division </li></ul><ul><li>DMM guides buyers on import planning and purchases and may accompany them overseas </li></ul><ul><li>Must have at least 4 years of experience in buying and store management and exhibit leadership </li></ul>
  10. 10. General Merchandise Manager (GMM) <ul><li>GMM is above DMM </li></ul><ul><li>There is a GMM for soft goods, including apparel, cosmetics, and accessories </li></ul><ul><li>There is a GMM for hard lines, including house wares, tabletop, electronics, etc </li></ul><ul><li>GMM is similar to DMM but is responsible for more than one division </li></ul><ul><li>At least 2 years experience as DMM is required to become GMM </li></ul>
  11. 11. Director of Imports <ul><li>Responsible for overseeing all departments </li></ul><ul><li>Travels with buyers to attend trade shows and appointments with vendors </li></ul><ul><li>Liaison for agent overseas who procures merchandise </li></ul><ul><li>Qualifications are the same as a DMM’s </li></ul><ul><li>Keen sense for cutting edge fashion </li></ul>
  12. 12. Merchandising Groups and Buying Office Positions <ul><li>Similar position of retail store buyer </li></ul><ul><li>Responsibilities include shopping the market to recommend merchandise assortments suitable for their member stores or clients and to develop private label merchandise for exclusivity and value </li></ul><ul><li>Report best-selling merchandise to source overseas at reduced prices and maximize sales </li></ul><ul><li>Scout overseas markets for merchandise unique to the particular country of sourcing </li></ul>
  13. 13. Agent <ul><li>Determines the needs of the buyer and direct the buyer to appropriate sources </li></ul><ul><li>Assists buyers who are unfamiliar with factories and language overseas </li></ul><ul><li>Negotiates the terms of purchase for the buyer and guides the buyer in proper importing procedures </li></ul><ul><li>Paid commission based on % of $ of total purchase </li></ul><ul><li>Should be fluent in English as well as language, market, and negotiation skills of country of representation </li></ul>
  14. 14. Leading Merchandising Groups <ul><li>Macy’s Merchandising Group </li></ul><ul><li>(Federated Department Stores) </li></ul><ul><li>Associated Merchandising Corp </li></ul><ul><li>( Target ) </li></ul><ul><li>Saks Department Store Group </li></ul>
  15. 15. The End