Buying and Merchandising
Key Responsibilities:
1. Product Sourcing and Selection:
• Identify, source and select products that align with company’s target audience and seasonal trends.
• Develop relationships with vendors and manufacturers to negotiate prices, terms and delivery schedules.
2. Purchasing and Inventory Management:
• Manage purchasing decisions to ensure product availability while maintaining inventory levels.
• Regularly monitor stock levels and collaborate with logistics teams to ensure timely deliveries.
• Maintain optimal stock levels, minimizing overstock and stockouts and ensuring product availability across all sales channels.
3. Pricing and Margin Optimization:
• Monitor and manage the gross margin on products and adjust strategies to maximize profitability.
4. Vendor and Supplier Relationship Management:
• Build and maintain strong relationships with key suppliers and negotiate competitive terms, prices and delivery timelines.
• Resolve issues related to product quality, delivery delays or pricing discrepancies with suppliers.
• Monitor vendor performance to ensure they meet agreed-upon standards for quality, cost and delivery.
5. Market Research and Trend Analysis:
• Identify key market trends and customer preferences to adjust product assortments and buying strategies.
• Attend trade shows to ensure the product range remains relevant and competitive.
6. Reporting and Performance Tracking:
• Prepare regular reports on sales, stock levels and performance metrics for senior management.
Key Requirements:
• Graduate / MBA
• Minimum 8-10 years of experience in Retail Business.
• Ability to manage multiple products and suppliers while maintaining accuracy in inventory and purchasing records.