Comparing Buyers to Planners
Buyers and planners work together to ensure that their business is stocked with the correct items at the correct time. Planners choose vendors and conduct research to design a strategic merchandising plan. Buyers ensure that the planner's strategy is carried out by taking inventory and sending out orders.
| Job Title | Educational Requirements | Average Salary (2022)* | Job Growth (2020-30)** |
|---|---|---|---|
| Buyer | Bachelor's degree | $57,684 | -1% |
| Planner | Bachelor's degree | $74,982 | 5-10% |
Sources: *PayScale.com, **onetonline.org
Responsibilities of Buyers vs. Planners
Both buyers and planners take part in deciding what vendors to work with and what items to purchase. While buyers tend to work with people, negotiating prices and placing orders, a planner works with data. Planners spend the majority of their time conducting analysis of past purchases, future forecasts, and market trends to make recommendations about the direction that a company's merchandising department should take. In a small company, one person may take on the responsibilities for both of these roles. However, in larger companies these roles are separated; they work together but may report to different managers.
Buyer
A buyer's primary function is to figure out when and what items their business should purchase. They keep their inventory stocked with the correct materials. They can work in a variety of settings, including retail stores, grocery stores, and car dealerships. Their job requires them to organize stock, maintain relationships with vendors, and make critical decisions about a company's purchases. They work regular office hours but might travel to meet potential suppliers and vendors (so they may occasionally have to work on the weekends).
Job responsibilities of a buyer include:
- Fostering long-term relationships with suppliers and vendors
- Negotiating costs, contracts and deliveries with suppliers and vendors
- Managing orders to ensure that merchandise gets delivered on time
- Staying on top of industry trends to maintain the correct stock
Planner
A planner conducts research and develops a purchasing plan for their company. They must work with buyers to assure that merchandising and stocking are carried out in ways that maximize profits. They spend their time researching future trends and analyzing past successes and failures. Planners must have excellent attention to detail and analysis skills to identify problem points and develop strategic solutions. Most planners work regular 8-5 hours in an office setting. Successful planners have good administrative and leadership skills.
Job responsibilities of a planner include:
- Analyzing current purchasing strategies and developing solutions to reduce costs while increasing profits
- Integrating market research and customer feedback into a comprehensive purchasing strategy
- Aligning their company's purchasing strategy with its core values and objectives
- Acting as a liaison between the buying department and the planning department
- Preparing financial documents, reports, and budgets
Related Careers
If you are interested in becoming a buyer, look into a career as a fashion buyer where you can choose vendors and purchase merchandise within the niche field of fashion. If you want to become a planner, you may also want to look into a career as a market research analyst, because both jobs use the same data analytics skills to identify trends and raise their company's profits.
