Preview Questions Retail Buyer | Role Specific Skill

Question 1: How do you assess the true value of a supplier's offer when they provide additional incentives like marketing support or exclusivity?

Which action should you take?

Choose only one option

By quantifying the added value of marketing support and exclusivity, and comparing it against the procurement cost

By focusing only on the immediate price reduction

By ignoring additional incentives and focusing only on price

By accepting any offer with additional incentives without evaluating the long-term impact

Question 2: In fashion procurement, how does product assortment planning contribute to meeting customer expectations, and what strategies should a buyer use to create the right mix?

Which action should you take?

Choose only one option

By ordering only best-sellers to minimize risk

By limiting the assortment to a single designer or brand to maintain exclusivity

By focusing solely on price rather than variety and quality

By selecting a diverse range of styles, sizes, and price points to appeal to various customer segments based on trend analysis and sales data

Question 3: How do you assess the long-term sustainability of a supplier before committing to a large procurement contract?

Which action should you take?

Choose only one option

By assuming long-term contracts will result in favorable terms, regardless of sustainability

By choosing suppliers with the fastest delivery times

By focusing only on the price and ignoring sustainability practices

By evaluating the supplier's ethical practices, sustainability certifications, and long-term financial stability

Question 4: What is the significance of predictive analytics in fashion trend forecasting, and how can it help retail buyers anticipate market shifts and consumer behavior?

Which action should you take?

Choose only one option

Predictive analytics complicates the forecasting process and should be avoided

Predictive analytics only applies to inventory management, not trend forecasting

Predictive analytics is irrelevant for trend forecasting, as trends cannot be predicted

Predictive analytics uses data modeling to anticipate future trends and consumer behavior, allowing buyers to make proactive procurement decisions

Question 5: What is the significance of "forecasting" in product procurement for fashion retail?

Which action should you take?

Choose only one option

It guarantees the lowest cost for all garments

It increases the speed of product turnover

It ensures that only locally produced products are procured

It helps predict future demand for specific products, allowing for better planning and reduced stockouts

Question 6: How can a retail buyer use supplier performance metrics (such as on-time delivery, product quality, etc.) to improve future negotiations and secure better terms?

Which action should you take?

Choose only one option

By ignoring supplier performance metrics and sticking to previous agreements

By using supplier performance metrics as leverage to demonstrate expectations and negotiate for improvements in service levels and terms

By accepting poor supplier performance to maintain relationships

By focusing only on price and ignoring performance metrics