Product Manager – Merchandise

Job Description

JOB TITLE

Product Manager – Merchandise    

A self-motivated, well organized and focused manager on achieving sales targets and assuming responsibilities for more than one boutique, with extensive background in retail sales & operation, preferably in fine Jewelry, excellent   personnel management skills and with general knowledge of managing brands relationship.

Duties and responsibilities:
 
• Ensuring that the right amount of goods is available in store and are being sold at the right price.
• Working closely with buyers and Retail to plan product ranges.
• Meeting with suppliers, distributors and analysts also managing budgets.
• To ensuring that the right amount of goods purchased and then are available in store and are being sold at the right price and the right period of time.
• Besides the turn over task for the merchandise , the demand forecasting is the practice of predicting which and how many products customers will buy over a specific period, Forecasting with the help of retail will lead to clear plan to when they need to order new merchandise, and how much they’ll need to get.

Tasks:

• Analyzing profitability of brands, creations categories and sub-categories, products and maintenance services
• Regularly conducting SWOT Analysis for the product.
• Ensuring proper and accurate ordering of creations through the Booster System and adherence to the Ideal Stock (IS)
• Assigning sales targets by brand and by salesman.
• Reviewing creations/products merchandise mix and adjusting it to meet profitability targets.
• Implementing and executing the incentive s and commissions plan for all staff.
• Evaluating employee’s performance and present recommendations accordingly.
• Ensuring implementation of maintenance procedures as per company guidelines.
• Ensure that products supplied in the right store, at the appropriate time and in the correct quantities.
• This involves working closely with the buying teams and the Retail to accurately forecast trends, plan stock levels and monitor performance.
• Planning and developing merchandising strategies.
• With the help of the retail, analyzing sales figures, customers reactions and market trends to anticipate product needs.
• Collaborating with buyers, suppliers and boutiques to analyze and negotiate prices, quantities and timescales.
• Budgeting for the purchase throughout the year per quarter and per supplier.
• Calculating and analyzing the turnover for the stock and taking action when needed to adjust the turnover to be aligned with the KPI of the department.
• Planning and overlooking the work of the (VM) and then adjust and develop accordingly.
• Follow up and help the sales unit
• Follow up and help the CDU unit