Associate Buyer
Tori Richard: SUMMARY:
The Associate Buyer is a key member of the team tasked with elevating one of our iconic brands and successfully growing its business in our retail and ecommerce stores. The role works closely with the Brand Director, Product Merchandising, and Marketing to inform how the buy is built and executed at retail. With support from the Director of Merchandising and Inventory Lifecycle Managem
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ent (the Director), the Associate Buyer will formulate and execute buying and assortment strategies to maximize sales, net profit, and store performance for the assigned categories.
The Associate
Buyer is responsible for the overall health of inventory, maintaining proper stock levels and assortments through detailed analysis for the retail and online stores. This role will reallocate and replenish merchandise between warehouse and stores based on sales and stock levels, to optimize sales opportunities with the pursuit of getting the right products to the right place at the right time. This role is also responsible for providing necessary analysis and reports to the Senior Retail team to aid decisions.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
Buying
• Own end to end merchandising and buying strategies, identify and seek opportunities to positively affect company's overall point of view and financial outcome.
• Review seasonal collections, strategize investments based on OTB, sales analysis, trend projection, and historical performance for their assigned brand and/or category.
• Build, evaluate and revise sales plans at category and collection level.
• Develop monthly allocation and product launch plans in collaboration with Marketing, Visual Merchandising, and Store Operations, in accordance with marketing and promotion strategies.
• Identify new business opportunities through sales analysis, retail feedback and competitive research.
• Maintain margin by managing seasonal markdowns and eventual RTV strategy.
• Ensure all steps of data entry and POs for new collections are accurately entered in the system
• Attend merchandising, marketing, and product related meetings for the assigned brand and/or category
• Partner with the Director to formulate and execute assortment plans for seasonal buys, strategize investments based on OTB, sales analysis, trend projection, and historical performance
Inventory Management and Replenishment
• Consistently monitor sales and stock for all stores, analyze and execute replenishments, transfers, and consolidations accordingly to provide optimal size integrity, maximize sales opportunity, and minimize leftover stock.
• Review weekly replenishment/ transfer recommendations made by Retail Support Team and make necessary adjustments
• Validate all replenishment POs written by Retail Support Team and send to Corporate Customer Service
• Analyze stock performance and recommend merchandise for markdown and eventual RTV
• Execute markdowns and other price changes in retail system
• Manage minimums for auto replenishable stock, review and adjust when necessary
• Plan and communicate Monthly Delivery Calendar for retail and online stores to ensure merchandise are delivered promptly and according to marketing plans; coordinate and negotiate with Shipping Department to minimize impact on merchandise delays
• Work with Store Managers, Retail Operations, Customer Service, and Shipping Departments to resolve shipping discrepancies
• Review and process damage returns, record damage reasons and spot trends for possible defective items or production issues and communicate with the Director and the Corporate Merchandising Team
• Manage all inventory adjustments and cycle counts
• Recommend and perform other analyses and actions needed to maintain inventory health
Business Intelligence
• Provide necessary reports and analytics to stores and corporate stakeholders
• Have in depth understanding of retail, online, and business intelligence systems, be the go-to person for resolving issues and creating new report modules
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