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Assistant Buyer - International Brands

Assistant Buyer - International Brands

ConfidentialIndia
7 days ago
Job description

Key Result Areas

Supporting Actions

Assisting Buyer in the selecting & sourcing of Merchandise assortment / mix for PRL stores

  • Collaborate with the Senior Buyer to curate a diverse and cohesive assortment of Polo Ralph Lauren women's wear products, including clothing, accessories, and footwear – Updating Order Master.
  • Analyze historical sales data, customer feedback, and the Indian market trends to make informed decisions about the selection of styles, colors, and sizes within the assortment.
  • Ensure that the assortment reflects Polo Ralph Lauren's brand identity, incorporating classic American styles, quality craftsmanship, and a luxury appeal that resonates with the Indian Luxury segment consumers.
  • Continuously monitor the performance of products within the assortment, identifying best-sellers, slow movers, and opportunities for seasonal adjustments.
  • Develop and maintain assortment plans that balance iconic Polo Ralph Lauren staples with new and innovative product offerings to meet customer demands.
  • Create Purchase Orders (POs), review Order Confirmation (OCs) and track the progress of orders to ensure on-time delivery.
  • Creating in season express orders on a need basis.
  • Set ARP targets for product categories
  • Create Option plan and conduct depth analysis
  • Formulate Stock to Sale plan for a season – EOM / BOM
  • OTB calculation

Collaborating with brands

  • Collaborate with brands to negotiate favorable terms, pricing, and delivery schedules with vendors, aiming to maximize profitability while maintaining product quality and exclusivity, thereby achieving best value – Order Confirmation Management.
  • Establish and nurture strong relationships with Polo Ralph Lauren's network of vendors, including international and domestic suppliers, to secure access to high-quality products.
  • Collaborate with vendors on product development, ensuring that their offerings align with the brand's standards and customer expectations.
  • Monitor vendor performance, track order fulfillment, and address any supply chain issues promptly to maintain a seamless flow of merchandise.
  • Stay informed about vendor trends, innovations, and market conditions, sharing relevant insights with the buying team for strategic decision-making.

    • Tracking Stock Management

  • Plan, monitor and maintain Ideal stock cover for women's wear products, taking into account demand forecasts, sales trends, and seasonal fluctuations for each product category in stores.
  • Plan for inter-store transfers to achieve maximum value (AMM).
  • Fill rate management.
  • Ensure timely online availability of stock.
  • Dormancy within specified norms
  • Pullback within specified norms
  • Analyze sell-through rates and stock turnover to optimize stock levels, reduce excess inventory, and minimize holding costs. Maintain sell-through reports.
  • Implement inventory replenishment strategies to ensure that popular products are consistently in stock and readily available to customers.
  • Work closely with the Planning Team to align inventory management practices with merchandise planning and demand forecasting initiatives.
  • Collaborate with the Senior Buyer to make informed markdown and clearance decisions for slow-moving or seasonal items, aiming to maximize profitability.

    • Information / Data Management

  • Timely Updating Brand Catalogues.
  • Updating UDA & BNF in style masters.
  • Updating Brand sell-through reports.
  • Creating top seller bottom seller reports.
  • Preparing Sell-through reviews & department reviews.

    • Provide inputs for Monthly Target setting in each category

  • Breaking up of Monthly targets into product category
  • Target Vs achievement
  • Merchandise plan report
  • Product performance Lk2Lk

    • Pricing Strategy

  • Assist in developing pricing strategies for women's wear products, considering factors such as brand positioning, market competition, and customer value perception.
  • Conduct price elasticity analysis and competitive pricing benchmarking to determine optimal price points for different product categories.
  • Collaborate with the Senior Buyer to set promotional pricing and markdown strategies that align with seasonal sales events and clearance periods.
  • Stay informed about currency exchange rates and their potential impact on pricing for imported products.
  • Continuously assess pricing strategies and make recommendations for adjustments based on sales performance and market dynamics, maintaining a balance between profitability and customer satisfaction.

    • Visual Merchandising Support

  • Partner closely with the Visual Merchandising team to ensure that Polo Ralph Lauren women's wear products are displayed effectively and consistently across stores in India.
  • Provide input and recommendations to the VM team regarding the strategic placement, arrangement, and presentation of women's wear products, including suggestions for window displays, in-store displays, and mannequin styling.
  • Coordinate with the VM team to align product displays with seasonal themes and emerging fashion trends, ensuring that the visual presentation remains fresh and enticing to customers.
  • Work in conjunction with the Visual Merchandisers to plan the introduction of new arrivals and the showcasing of highlighted collections, ensuring that these products receive prominent visibility within the store.
  • Understand customer behavior and shopping patterns to recommend VM strategies that enhance customer engagement and drive sales, contributing to the overall success of the women's wear category and the Polo Ralph Lauren brand.

    • Cross Functional Support

  • Collaborate seamlessly with cross-functional teams, including the Senior Buyer, Visual Merchandising, Planning, Marketing, and Operations, to ensure a cohesive approach to women's wear buying strategies and execution.
  • Maintain open and effective communication channels with vendors, sharing relevant information and insights with the procurement and supply chain teams to ensure timely deliveries and efficient inventory management.
  • Share sales data, customer feedback, and market insights with cross-functional teams, providing valuable inputs to inform merchandise planning, visual merchandising, marketing campaigns, and operations strategies.
  • Work closely with the Marketing team to coordinate and support promotional activities and sales events, ensuring that marketing efforts align seamlessly with women's wear assortments and customer interests.
  • Collaborate with the Operations team to facilitate efficient stock movements, replenishments, and inventory control, ensuring that women's wear products are consistently available for customers while optimizing stock levels and adhering to operational best practices.

    • Being a custodian in formulating the Stock & sale plan

  • Product category wise dispatch plan
  • Planned Vs actual
  • Allocation plan for each store as per dispatch plan and size wise analysis
  • Tracking allocation vs. actual dispatches

    • Market Intelligence

  • New launches (competition product / window / schemes)
  • Competition Mapping
  • Training (Merchandise, Product & VM related)
  • Stay abreast of global fashion trends, consumer preferences, and competitor offerings to remain at the forefront of the fashion industry.
  • Regularly attend fashion shows, industry events, and trade exhibitions to gather insights and inspiration for the women's wear category.
  • Analyze data from customer surveys, social media, and fashion publications to identify emerging trends and customer demands, informing buying decisions.
  • Conduct competitive analysis to benchmark Polo Ralph Lauren's women's wear offerings against other luxury brands in the Indian luxury market.

    • Track the Core Business Contribution

  • Monitoring to enhance the category contribution % of total business of LTL basis
  • Identifying new designs to be added to this category

    • Help in creation of Retail Design Brief

  • Designing a retail brief to design – option grid & learning of past season

    • Integrated Go To Market (IGTM)

  • Planning for a successful IGTM story along with VM and design
  • Dressing up one key store for the look
  • Roll – out across stores

    • Integration with space planning

  • Working in close co-ordination with retail planner to closely monitor returns from space allocated

    • Skills Required

    Visual Merchandising, Stock Management

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