What are the key contributions of buyers in the successful completion Essay

What are the key contributions of buyers in the successful completion of the company budget - Essay Example The links of buyers on myriad operational activities provide great influence in budget allocation. Since the responsibility of overseeing interrelated functions concerning a product range within a particular category which includes selection, sales and profitability lies on the buyer, creating the company budget entails major involvement of the buyer. Starting from the analysis of potential movements in the market, the buyer assures that buying operations fit within the overall financial budget by providing the appropriate information during the planning stage of the company when budget setting takes place. Historical analysis is a useful tool for the buyer in making judgments that concern market developments particularly on the acquisition of supplies. Aside from looking at past sales, the buyer also looks at expectations of price fluctuations and movements taking into consideration various factors that affect the market value of production inputs based on opportunities present in t he market. With market analysis, the buyer provides the information necessary for the generation of the budget.Trading operations of the company depend on a structured, achievable and accurate budget derived from sound information and because the buyer is involved in liaising with other departments and suppliers, the understanding of the buyer in relation to the market is the key for presenting the outline of finances. Through thorough research and evaluation of product and price trends, the buyer assures that the company budget sustains organizational activities. ... The collection of garment supplies revolve around the budget constraints set by the company. Through budget allocation, decisions on acquisition take place. In the process of allocation, the paths of the company money is traced in every aspect it is used. Money spending decisions of the company in the course of acquisitions of necessary supplies provide an outline of the range structure. With the range structure, the buyer makes decisions on the selection of product ranges aimed at a specific market that will make the department operations together with other related business functions run smoothly and in line with the set objectives of the company. What Are the Key Inputs of Buyers into the Promotional Calendar In the pursuit of accomplishing the series of events planned by the company to make products known to the market, the buyer is involved and functions in coordination with the marketing department. The buyer ensures that purchasing activities complement the visions of the marketing department as set on the promotional calendar. This is undertaken through an efficient and effective planning of ranges to assure that actions of the buyer in relation to the collection of garments for the specified period coincide with what the marketing department is trying to pursue. Promotion is an essential factor in the success of the fashion products of a company since the activity provides the target market with the vital information regarding the products offered to them. Brand awareness and brand recall is instituted in the course of promotional undertakings of products targeted to be sold. With the promotion of a product, demand is expected to be created and as a result boost sales. The impact of the promotional campaign whether in print advertisements