What is a "merchandising manager"?

I've seen this title a lot but am not sure what this actually means. What do they do exactly?

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The merchandise manager is usually the retail buyer’s boss. The merchandise manager is typically responsible for allocating the retailer’s budget across the buyers that report to her. In addition, they are responsible for measuring the performance of the buyers, and they often have final say on brand relationships that may be underperforming or otherwise risky for the retailer. They also make sure the buyers’ actions are coordinated with the broader strategy of the retailer.

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