POSITION OBJECTIVE
To maximize sales by sourcing the right product at the right time at the right price. To maximize the margin on the product by pricing the product as per the concept guidelines and monitoring price revisions. To allocate the right stock of territories and ensure allocation of right quantity to the store. To prepare the buying plan and to match the inflow of the stock in line with the budgeted inflow and to incorporate new ideas and new ranges into concept.
Key Responsibilities:
Planning of Buying Calendars & Events
Understand the Buying Calendar and the process of planning for a season.
Understand the various suppliers and to learn about all buying fairs.
To assist in planning the buying calendar in line with Inflow Pattern and the Event Calendar of the Stores.
To monitor the order status and inventory levels on regular basis and to take proactive action for any supplier / category / range / product based on actual inflow and sales pattern.
To review the distribution of orders on all times and based on the sales rate and the budgets Revise distribution wherever required.
To monitor the Budget Order; Order GRN; Inflow pattern Reports on weekly basis and ensure discrepancies are reported promptly to Finance
Margin Achievement
To understand the mechanism of margin / pricing / markup and costing relevant for each supplier and
Each territory in the department handled.
To assist the Buyer in fixing the Retail Selling Price in line with the Concept Overall Margin Target and
The specific target for each territory.
To review the pricing as generated from the Pricing Module and do the necessary currency correction
Based on the local currency of each territory.
Sales Achievement
Understanding the sales pattern of each store / territory and influencing the increase of sales in each store / territory.
Participate in the review of the Sales Projection along with the Buyer Retail, Finance Team. Review the performance of a product / category / range / supplier / department on periodic basis and to monitor stock levels.
Monitor the reorders based on the sales and revise / optimize allocation accordingly.
Product Review, Design & Development
To understand the department, group, sub-group, category / range used in the company and the principle behind the classification of the products in these.
To understand the design element and the signature of the product in the department and to know the taste of the customer.
To review samples in line with the guideline within 3 days of receipt and to maintain list of all catalogues / photographs
To maintain the data base of the images of products on the server as per the correct protocol.
Vendor Development
To understand the supplier relationship in the organization and the correct manner of addressing the issues with the suppliers.
To maintain and develop the relationship with suppliers and to communicate in a very professional and prompt manner.
To consider suppliers as partners in growth and ensure their growth and development along with our growth.
To assist the suppliers with all necessary assistance in ensuring timely delivery of goods understanding of orders, understanding of shipment terms / LC terms / marking requirements, etc.
Inventory Management
Review and analyze stock / sales reports on daily basis and understand the top sellers in each department / category / group.
To monitor inventory and ensuring sufficient stock holdings for each product / category / group / department.
Review all GRNs after 45 days and taking a decision of reorder / review date.
To monitor the stock at Central Warehouse at Jebel Ali if any
Effectively deal with fast / slow moving items / ranges and end of ranges and take corrective action on timely basis
Merchandising Standards
To constantly monitor the stores and to ensure that the planogram given is implemented strictly. To periodically visit the market and survey competitors for new / better ideas for merchandising and to bring about improvement in the merchandising standards.
Conducting competitor analysis and market review on periodic basis to understand the trends and to develop products in tune with the same
Competitor Survey (R&D)
To visit our competitors who carry same range of products, study their designs, color, price & compare with Lifestyle products. By studying we can analyse & make our buying better. Constant research on new products and develop the same with our existing suppliers
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