Head of Merchandising/Buyer

Job Reference: 
VM/001
Salary: 
£50,000 - £60000
Location: 
Leicester

This english heritage menswear brand is currently looking to recruit an experienced Merchandiserr/buyer to head up this new department.You would need to have worked for a similar wholesale/retail Menswear brand.

JOB TITLE Head of Merchandising
RESPONSIBLE TO
Chief Operating Officer
MAIN PURPOSE:
Drive the business product and buying strategy to deliver the Company’s financial goals. Also assisting and support the strategic future growth plans of the Company through the development, review and implementation of a profitable, customer-focused Merchandising strategy. Taking into account current and future market trends and planning appropriate responses to increase sales and profits at the same times as reducing any possible downside risks to the business.

KEY ACCOUNTABILITIES:

Buying
• Forecasting Group sales demand per channel. Reviewing existing stock holding and purchasing seasonal stocks to meet channel sales targets, maximising unit throughput efficiencies and minimise seasonal end stock mark-downs.
• Select product purchase mix to achieving sales targets and achieve overall brand collection offering via retail and wholesale channels
• With knowledge of product components, suppliers’ local costings and additional inbound costings (freight, duty etc.) negotiate purchase prices in order to achieve desired margins
• Identify and regularly review potential suppliers and negotiate commercially viable contracts to achieve target product costing, improve margins and operating cash cycle
• Build and maintain effective working relationships with suppliers and implement standard Company purchase policy.

Stock management
• Manage initial stock allocation of stock per channel in order to meet channel sale targets
• Monitor seasonal sales performance across all channels and working with Heads of Sales to ensure stock is reallocated to the appropriate channels to maximise sales and margin performance and minimise seasonal end terminal stock
• Work with Sales teams to identify stock clearance options that protect the brand while turning excess stock into maximise cash realised in the shortest possible lead-time

Budgeting and Forecasting
• Work with Finance and Sales teams to formulise annual budgets per channel
• Reforecast sales and margin budget during seasons and advise corrective action to meet and overachieve against the original budgets

Retail merchandising
• Create a range plan to optimise the allocated space and maximise sales and profit density, ensuring stores have the correct mix and depth of stock to maximise sales
• Manage the intake of stock in line with agreed stock levels
• Plan availability schedule for new and continuity product
• Monitor and manage the availability of stock:
o By ensuring planned launch and replenishment dates are met and sales and stock are realised through production planning.
o Managing the allocation of stock from suppliers
o Managing in-store stock levels to optimise distribution
• Managing terminal stock

Company Critical Path Management
• Establish and manage Group critical path across all departments from collection development through to retail season end and identify continued areas of improvement to better meet channel customer demands
• Monitor performance against the critical path throughout the season and work with department heads to ensure that customer expectations are met and supply chain costs to the business are minimised

Pricing and Promotions
• Working with the Sales teams, setting seasonal pricing to maximise full price sales and margins.
• Based on sales performance and Company seasonal financial objectives, communicate markdown prices to all relevant channels and coordinating update of all Company price books in line with key dates.
• Liaise with Sales and Marketing teams and advice on promotional plans and activities ensuring, promotions are supportive of brand’s longer term goals, sales and margin targets are achieved and sufficient stock is available to support.

Provide management information for decision making
• Sales and margin performance per channel
• Product category performance
• Stock inventory performance
• Commentary and correction action

Collection and Range planning
• Evaluate previous seasonal performance, company channel objectives, market trend information to advise and support the Design team to formulate the optimise collection mix at the start of each seasonal

General Duties
• To understand the industry Company’s competitors and to be aware of their strengths, weaknesses and strategies
• To develop, motivate and manage the Merchandising team to deliver departmental and individuals’ objectives
• Monitor and develop department KPI’s in line with the Company’s critical success factors
• To be accountable for the merchandise performance, to recommend revisions to the merchandise plan/forecast based on sound analysis and ensure that corrective actions are implemented as and when required
• To comply with all policies and procedures set by the Company
• Ad hoc work as per requests from COO

COMPETENCIES:
• Solves problems creatively by, identifying the problem, evaluating the alternatives and finding innovative solutions
• Makes controlled responses in stressful situations, such as when faced with negative responses or excessive workload
• Sets high standards for self and others and is dissatisfied with average performance
• Plans with colleagues work schedules and resource requirements that will ensure agreed targets are reached, and where appropriate exceeded
• Formulates performance measures and quality assurance processes that will clarify individual output and quality expectations
• Able to build effective relationships with internal and external customers
• Expresses both verbally and written, ideas and information in ways that are appropriate, accurate and concise
• Listens actively to individuals and organisations so that needs are identified, innovates to meet those needs, and checks that needs have been met.

Please note only suitable candidates will be contacted

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