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.