Preview Questions Retail Buyer | Role Specific Skill

Question 1: How does "multi-vendor procurement" reduce risk in fashion retail procurement?

Which action should you take?

Choose only one option

It guarantees that a single vendor will provide all products

It ensures that procurement costs are always the lowest

It eliminates the need for vendor collaboration

It spreads risk across multiple suppliers, ensuring continuity in case one vendor fails to deliver

Question 2: What strategies should a retail buyer use to monitor vendor compliance with contract terms and ensure timely and consistent deliveries?

Which action should you take?

Choose only one option

Ignoring vendor performance once the contract is signed, assuming the terms will be met

Only addressing issues when they arise, without proactive monitoring

Relying on suppliers' assurances without implementing regular checks

Regularly reviewing vendor performance metrics, conducting periodic audits, and maintaining open communication

Question 3: How can a retail buyer effectively negotiate payment terms with a supplier to improve cash flow while maintaining a healthy supplier relationship?

Which action should you take?

Choose only one option

By negotiating extended payment terms or credit facilities without compromising product quality

By agreeing to whatever payment terms the supplier initially offers

By negotiating shorter payment terms to reduce outstanding payables

By insisting on upfront payments to avoid any risk

Question 4: How does "sales data analysis" aid in market analysis for fashion retail buyers?

Which action should you take?

Choose only one option

It reduces the need for product testing

It guarantees that products meet design specifications

It provides insights into which products are performing well, helping buyers make informed procurement decisions

It ensures the availability of all products at the lowest possible price

Question 5: How can consumer sentiment analysis be integrated into fashion trend forecasting, and what methods should a buyer use to gather and apply consumer feedback?

Which action should you take?

Choose only one option

Consumer sentiment analysis should only be used after products are sold out

Consumer sentiment analysis is unnecessary, as trends are solely driven by designers

Consumer sentiment analysis gauges the emotional response to current trends, helping buyers adjust their procurement strategies accordingly

Consumer sentiment analysis applies only to social media influencers, not general consumers

Question 6: How do you evaluate trade-offs in a negotiation, such as price, delivery time, and quality, to ensure a fair deal?

Which action should you take?

Choose only one option

By focusing only on one aspect, such as price, and ignoring others

By assuming all factors are equal and treating them the same in the negotiation

By weighing the importance of each factor based on the business's priorities and negotiating accordingly

By agreeing to all terms without evaluating trade-offs