Talent Acquisition - Corporate Office at Reliance Brands
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Reliance Brands - Buyer (5-8 yrs)
Reliance Brands - Buyer
DM/Manager Buying :
- The Company's merchandise mix and assortments are constantly evolving as merchants and planners focus on what customers want to buy and respond by providing best of the products on a wider variety of name brand merchandise.
- Incumbent is expected to drive & maximize Sales & Profitability in the business by providing effective Merchandise Strategies. Planning & In Season management of Assortment & Inventory by Stores/Region/Product Hierarchy to achieve or exceed Strategic Business Targets viz. Topline, Sell-Thru, Gross Margin, etc. He/she must have a keen eye to detail and decisions driven by customer needs
Key Responsibilities :
- Sales Strategy
- Prepare the Seasonal/Annual Operating Plan for all channels of Sales basis Historical sales data, LFL/New Store Growth, Planned Inventory Cover, Markdown / Liquidation Strategy
- Align the Sales Strategy with all Business Stakeholders (Finance, Planning, Operations/store teams, SCM, etc.)
- Cascade the strategy at each level of product hierarchy (Division/Department/Class/Sub-Class)
- Prepare & communicate Marketing/Promotion Calendar for the season Supplier Strategy
- Competition & Novelty Research To check availability of all Major New Launches & Competitor Offering in the market
- Sourcing & negotiating with new vendors with respect to Terms of Trading (Product Cost, Delivery Terms, Lead Time, Payment Terms, etc.)
- On-boarding of New vendors as per planned contribution to sales strategy in alignment with right category mix Price & Margin Strategy
- Review/re-create margin strategy as per new targets for the season/year
- Prepare/review pricing of existing product range into Pricing buckets (Low Level Pricing, Mid-Level Pricing & High Level Pricing) as per market trends, Inflation, change in taxes/duties, Terms of Trade, Miscellaneous costs, etc.
- Plan the price range of new Product as per competition mapping to achieve desired margins o Deliver Budgeted Gross Margin Assortment/Option Strategy
- Develop Options/assortment as per OTB of each Category Mix to place buys of the season o Ensure Optimum width and depth of Import merchandise to Cover Sales as well as Display plan o Standard Assortment of SKUs as per the store format & grading
- Create & maintain an Active product launch calendar, 3 Exclusive launches each quarter, Tie Ups with vendors for sourcing of locally available/developable products, negotiate on pricing & benchmarking with competitor offerings Additional Responsibilities
- Manage Business KPIs such as GMROI, GMROF, Vendor Fill Rate, Inventory Management, Sell Through Management, etc.
- Prepare & review various Business Reports
- Data Analysis basis which provide feedback to relevant stakeholders and ensure effective coordination with other department
- Schedule Product Training as per requirement as well as for every New Launch
- Coordinate with the Commercial/Accounts Payable team to ensure smooth & timely payment to vendors
- New Store Initial Planning/Fill Management
- Develop/Coordinate/Implement new or improved System integration & Automation of Order Management Portal, Daily Sales Reports, CXO Dashboard, Vendor Portals, etc.
Desired Skills and Abilities :
- Superior understanding of Indian retailing and global trends Strong product knowledge & decision making skills Multi-tasking ability with strong Communication and Time Management skills Strong Analytical & Negotiation skills Ability to build and nurture multiple internal and external (vendor-partner) relationship Good planning and execution skills
- Education & Experience Required : PG in Retail Management/Fashion Management from a reputed business or fashion institute 5-8 years of experience in similar role of Buying of a similar category Strong Product knowledge of the Category/Brand Preferred Industries Organized Fashion Retailers/Ecommerce companies