The role holder is responsible for overseeing the inventory and retail budgets (Open To Buy (OTB), densities, inventory health, and sell-through, Gross Margin Return On Inventory Investment (GMROII)) to ensure stock deliveries to the stores as per approved capacity plans and store profile to achieve sales objectives. The role holder is responsible for providing effective brand/category planning and in season management of assortments and inventory level.
· Determines high-level financial goals including pre-season financial plans, in-season projections, open-to-buy management and new store budgets
· Analyses and monitors merchandise planning MIS analytics based on actual sales, sales forecasts, company order parameters, inventory checks, forth coming events, replenishment needs etc.
· Formulates and communicates the merchandise strategic plan to buying team for necessary execution
· Develops merchandise plans for all brand/categories based on insights gained from analytics, customer preference, historical trends and future outlook projected by the buyer
· Discusses, decides and monitors the strategic plans around the following factors
o Sales, Stock, OTB, Margins, Forward Cover etc.
o Order Quantity, Allocation, Replenishment etc.
· Communicates the plans to buying team for necessary execution and ensures effective in-season management across stores/areas (stock balancing, markdown management, stock analysis, stock vs sales performance)
· Reviews the merchandise plans on a periodic basis to ensure profit is maximized and maintained to reach target levels
· Ensures optimum inventory levels are maintained for each brand/category, keeping in mind store requirements as well as working capital constraints
· Ensures that no instances of stock outs occur on account of any discrepancy on part of planning
· Ensures excess inventory is not maintained at the warehouses or the stores and there is proper adherence to the Business Unit’s policies and procedures
· Ensures proper coordination with the store managers and distribution centers to ensure that the goods are delivered to respective stores as per the requested quantities and agreed timelines
· Manages and updates replenishment parameters by location, store volume group as needed within season, communicates with buying function regarding inventory/replenishment as needed
· Ensures identification of obsolete/slow moving stock and obtain management approval on markdowns and product discounts to ensure stock is liquidated as per retail /brand/category guidelines
· Prepares variance analysis reports of stocks and sales against budgeted figures, identify brand/category growth opportunities to minimize down trending business
· Monitors and sets targets by brand/category for GMROII and densities to increase profitability
· Trains and develops planning team members with an emphasis around brand/category management
· Participates in capacity planning to determine the capacity required and ensure smooth supply of products
· Bachelor’s degree in Business Management, Buying and Merchandising or its equivalent
· A minimum of 8 -10 years of relevant experience with at least 3 years in planning for products
· Business Intelligence
· MS Office and tools
· Analytical and statistic acumen