SUMMARY :
The Associate Buyer is a key member of the team tasked with elevating one of our iconic brands at TR Retail LLC, 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 Management (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 companys 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 adjustmentsValidate all replenishment POs written by Retail Support Team and send to Corporate Customer ServiceAnalyze stock performance and recommend merchandise for markdown and eventual RTVExecute markdowns and other price changes in retail systemManage minimums for auto replenishable stock, review and adjust when necessaryPlan 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 delaysWork with Store Managers, Retail Operations, Customer Service, and Shipping Departments to resolve shipping discrepanciesReview 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 TeamManage all inventory adjustments and cycle countsRecommend and perform other analyses and actions needed to maintain inventory healthBusiness Intelligence
Provide necessary reports and analytics to stores and corporate stakeholdersHave in depth understanding of retail, online, and business intelligence systems, be the go-to person for resolving issues and creating new report modulesProvide ad hoc reports as needed in a timely mannerRetail and Online store support
Communicate new product arrivals and business trendsParticipate in store openings, closings and events as requiredAttend weekly conference calls, store and manager meetings, and training sessions as requiredParticipate in weekly Online and Merchandising meetings and provide support as necessaryAttend monthly Online Target meetings to coordinate product launches in accordance with marketing plansWork with Marketing to develop product knowledge materials for store teamsLead bi-weekly product touch base with store managers, understand each stores sales trend and adjust strategies accordinglyOther responsibilities
Build strong working relationships across departments throughout corporate and in storesHandle other duties as assigned by the DirectorWork Environment
Adhere to company guidelines of dependability, including attendance requirements, professionalism, and conduct, as listed in the employee handbookSalary : $55,000 - $65,000 Base Annual Compensation
MINIMUM QUALIFICATIONS :
College graduate or equivalent requiredMinimum two years (2) of retail buying experiencePrevious inventory control experience necessaryStrong verbal and written communication skillsMeticulous attention to detail and high analytical thinkingAbility to multi-task and meet deadlines in a fast-paced environmentAbility to exercise strong judgment and decision-makingExpertise in Microsoft Office (Excel, Word, Outlook etc.)Prior experience with point-of-sale systems preferredMathematical Skills :
Expertise in retail math is requiredThe ability to understand, navigate and create complex calculations and formulas is requiredPhysical Demands :
Ability to sit for long periods of time.Ability to stand for 8+ hours or duration of scheduled shiftAbility to stand, walk, bend, squat and or twistAbility to grasp, push, reach and manipulate objects with right / left hand(s).Ability to bend at waist with some twistingReaching above or below shoulder levelAbility to occasionally climb ladders to store, receive and / or place materials and / or merchandiseCOMMENTS :
Employment at Tori Richard, Ltd. is on an at will basis, which means that either the Company or the Employee may terminate the employment relationship at any time for any reason. Nothing in this document alters this at will agreement. The Company reserves the right to revise the job description on the basis of the needs of the business. Applicants have rights under Federal Employment Laws , see Family and Medical Leave Act (FMLA) Poster ; Equal Employment Opportunity (EEO) Poster; and Employee Polygraph Protection Act (EPPA) Poster.
