SIRRMRM002 — Develop a merchandise strategy
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What an assessment for SIRRMRM002 must cover
110 assessable components: 3 elements (16 performance criteria), 23 performance evidence and 68 knowledge evidence requirements, plus 3 foundation skills. An audit-defensible tool maps every question and task back to these — that mapping is the coverage matrix Auditori generates alongside the assessment.
Elements & performance criteria
1 Analyse the operating environment.
- 1.1Access and review organisational strategic objectives and determine organisational priorities for merchandise performance in consultation with relevant personnel.
- 1.2Access and review existing and previous merchandise strategies and available performance data to inform strategy development.
- 1.3Research trends in merchandise management and use findings to inform strategy development.
- 1.4Analyse internal and external operating environments to identify opportunities and risks related to merchandise performance.
2 Develop merchandise strategy.
- 2.1Identify key priorities and objectives of the merchandising strategy based on analysis of the operating environment.
- 2.2Confirm merchandise strategy is consistent with the direction and objectives of the organisation.
- 2.3Confirm strategy execution can be supported by organisational structures and resourcing.
- 2.4Establish performance criteria to evaluate merchandise strategy performance.
- 2.5Ensure strategy can be adapted in response to environmental opportunities and threats.
- 2.6Develop a strategy action plan detailing key activities, responsibilities and timeframes.
- 2.7Obtain input from relevant personnel and make adjustments to strategy based on feedback received.
- 2.8Finalise merchandise strategy and gain required approval.
- 2.9Communicate merchandise strategy and action plan to relevant personnel.
3 Review merchandise strategy.
- 3.1Obtain feedback from relevant stakeholders regarding merchandise performance.
- 3.2Evaluate merchandise strategy against performance criteria.
- 3.3Use findings to make informed conclusions about merchandise performance and make recommendations for future improvements.
Performance evidence
- review the strategic objectives and direction of one retail organisation and develop a merchandise strategy for a six-month trading period by:
- analysing the internal and external operating environment
- analysing merchandise performance data
- documenting a SWOT analysis identifying:
- strengths
- weaknesses
- opportunities
- threats
- document the above merchandise strategy and detail:
- brand strategy
- competitor strategy
- pricing strategy
- product strategy
- promotional strategy
- supplier strategy
- target market strategy
- store and multi-channel strategy
- develop and document an action plan for the above merchandise strategy that details:
- resourcing requirements
- key responsibilities
- performance indicators
- timeframes
- evaluate the merchandise strategy against performance indicators and make recommendations for ongoing improvements.
Knowledge evidence
- retail merchandise strategies:
- purpose
- common objectives and priorities
- key stakeholders:
- organisational decision-makers
- strategy influencers and drivers
- influence on merchandise budget and planning
- trends
- role of critical path in merchandise strategy development and execution
- external operating environmental factors and their impact on a merchandise strategy:
- competitor
- consumer behaviour
- economic
- environmental:
- sustainability
- seasonality
- ethical
- political
- social
- technological
- target markets:
- current
- potential
- trends
- internal operating environmental factors and their impact on a merchandise strategy:
- organisational:
- objectives and direction
- resourcing
- gross margin
- percentage contribution mix
- supply arrangements
- logistics
- current merchandise strategy
- stock positions
- product and sales trends
- space management
- store changes:
- openings
- refurbishments
- closures
- role and interrelationship of key retail functions in merchandise management:
- buyers
- logistics
- marketing
- planners
- production
- retail operations
- senior management
- visual merchandisers
- key aspects of a merchandise strategy:
- brand strategy
- competitor strategy
- pricing strategy
- product strategy:
- growing
- maintaining
- exiting
- promotional strategy
- supplier strategy
- target market strategy
- store and multi-channel strategy
- key inclusions in an action plan for merchandise strategy execution:
- resourcing requirements
- key responsibilities
- performance indicators:
- qualitative
- quantitative
- timeframes.
Foundation skills
- Reading: interpret complex and varied information from diverse sources related to organisational operating environment.
- Planning and organising: plan for and implement realistic and achievable objectives within strategic plan.
- Technology: use digital technologies and systems to access, document and communicate information.
Unit content sourced from training.gov.au — © Commonwealth of Australia, licensed under CC BY 4.0. Auditori is not affiliated with the Department of Employment and Workplace Relations.
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Questions about assessing SIRRMRM002
What does an assessment tool for SIRRMRM002 need to cover?
To satisfy the Principles of Assessment and Rules of Evidence, an assessment for SIRRMRM002 needs to address all 110 unit components: 3 elements with 16 performance criteria, 23 performance evidence requirements, 68 knowledge evidence requirements, and the foundation skills. A coverage matrix mapping each question and task to these components is what an auditor looks for.
How does Auditori generate an assessment tool for SIRRMRM002?
Auditori pulls the current release of SIRRMRM002 from training.gov.au and generates a complete package: candidate assessment, assessor guide with model answers and observation criteria, and a coverage matrix mapping every component. A suitably qualified person then reviews and approves the draft in a built-in workflow — consistent with ASQA's guidance on AI use in VET — before export as branded PDF and editable Word.
Is the first assessment tool really free?
Yes. Every new account includes one free credit — enough to generate the complete assessment tool for SIRRMRM002 — with no card and no subscription required. After that it's pay-as-you-go per unit.
Can I check my existing SIRRMRM002 assessment instead of generating a new one?
Yes — upload your existing assessment or learner guide and Auditori maps it against every element, performance criterion, PE and KE of SIRRMRM002, showing exactly what's covered and what's missing. Mapping costs a quarter of a credit.
Related units
- SIRRMRM001 — Plan merchandise buying strategy
- SIRRMRM003 — Conduct a post-trade analysis
- SIRRMRM004 — Develop a merchandise financial plan
- SIRRMRM005 — Develop a category financial plan
- SIRRMRM006 — Plan a merchandise product range
- SIRRMRM007 — Negotiate and establish supply arrangements
- SIRRMRM008 — Develop a merchandise promotional plan
- SIRRMRM009 — Plan merchandise buying trips
- SIRRMRM010 — Plan product development
- SIRRMRM011 — Manage merchandise quality and compliance
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