Position Summary
The primary responsibility of the Product Manager-Buyer is to develop, initiate and lead the execution of product assortment and strategies to drive revenue growth and deliver greater market share. The successful candidate is a strong leader and innovator capable of spotting trends and developing suppliers. Candidate shall have a passion for the business and technology, develop and execute strategies; create and update measurement tools, and aid in decision-making for all tactical efforts of the buying team, including negotiating product assortment and promotional activities, merchandising, and pricing. In addition, the position as a Product Manager of Mobile, Cameras and Home automation will work collaboratively with a cross-functional team to deliver outstanding owned-brand products by leveraging innovative, strategic vendor partnerships.
Responsibilities
Anticipates market/business trends and develops a plan for response.
Develop and initiate product strategies to drive revenue growth and deliver greater market share.
Develop strategic models for pre-paid and post-paid carrier services.
Develop import product strategies and assortment.
Strong negotiation and vendor management skills.
Lead assortment planning process ensuring balance and adherence to strategic and financial objectives.
Establish product life cycle strategy, including end-of-life protocol.
Improve product offerings by negotiating terms with vendors, including payment terms, co-op / MDF funding, service, price, product quality, markdown allowances, exclusivity, packaging, lead times, and returns.
Directs assortment selection process and reviews assortments for balance (brand, key items, core items, etc.) and adherence to strategic and financial objectives.
Ensure that we have a wide assortment of accessories to satisfy our customer’s needs.
Drive the online business, to maximize selection, competitiveness, and merchandising credibility.
Oversee/participate in market and frequent store visits.
Establishes and maintains effective vendor relationships.
Demonstrated leadership skills including strategic thought and conceptual thinking.
Ability to work effectively with varying groups of people globally, both internal and external, to achieve business results.
Excellent written and verbal communication skills
Strong analytical and financial skills
Ability to prioritize among competing deliverables and collaborate with and influence a broad group of partners and stakeholders
Respects, appreciates and values diverse voices and approaches
Committed to creating equitable experiences and fostering an inclusive team
Coordinate with other buyers in the buying team to develop strong cross-merchandising and promotions.
Be an expert on Mobile technology and market trends.
Accountable for merchandise division performance, recommends revisions to the merchandise plan/forecast based on sound analysis and ensures corrective actions are implemented.
Works with the planning organization to develop assortment plans that support the overall strategy of in-stock positioning for key merchandise categories, classifications, items, and vendors.
Resolves escalated buyer product-related issues.
Drives compliance and standards with processes, policies, and tools within the group.
Partner with marketing and in-store marketing to develop the division/line promotional strategy.
Develop and submit Reviews and approves the promotional plans.
Develop and submit Oversees and approves product line reviews
Set the overall strategy and merchandise direction
Supply sales and marketing with needed information+
Develop product forecasts as part of a team
Ensure that pricing promotional strategies and marketing support the financial objectives of the merchandise group.
Work with the Director of Merchandising to create engaging floor displays and space plans. In addition, coordinate product training to improve the knowledge of our sales team.
Requirements
Criteria and Merchandise Planning
Step-Up program and audit its implementation
Low price importation with high profits target.
Create direction of sale for retail.
Merchandise promotion plans
Find nonperforming products by sub-department and adjust pricing to reduce their inventory.
Balance each sub-department for non-selling products.
Audit performance of lead and step items.
Negotiate with vendors to meet competitive prices.
Negotiate discounts, rebates, additional advertising funds, co-op, special event funds, group buying discounts, volume discounts, price protection RA’s, sales education, and service.
Watch for products in high demand and have the right supply.
Create a lineup of merchandise categories.
Create projections, product forecasts, and roadmap pricing strategies
Overlook the Logistics and Data Entry performance.
Communicate with all levels of corporate and store management, as well as potential suppliers.
Create and develop vendor partnership programs to improve the competitive advantage of the company.
Initiate spiffs on products to entice sales and improve inventory turns.
Price products, both initial and promotions, to optimize margin and enhance profitability. Work with Advertising and the Director of Merchandising to develop promotional activities and attain marketing goals.
Research, analyze and monitor financial and technological factors to maintain a competitive advantage.
Educate the sales team about new product promotions to increase sales personnel knowledge and effectiveness.
Develop promotional ideas to liquidate slow-moving products to improve cash flow and reduce handling.
Adhere to category budgets.
Create a strong online presence. Make the online store a reflection of your vision for the category.
Education and/or Experience
Bachelor’s degree or equivalent experience required
Minimum 2-5 years as a Product Manager/Buyer in a multi-location retail operation.
Proven merchandising and analytical skills including assortment planning, visual merchandising, and vendor negotiations, including pricing and quality issues.
Ability to develop strong partnerships.
Ability to juggle multiple priorities and make things happen in a fast-paced, dynamic.
Strong interpersonal and communication skills including the ability to articulate and sell concepts to a business team.
Seasonal travel is required for product sourcing.
Applied expertise in agile and lean development processes.
Self-motivation to deliver results and seek continuous improvement
Excellent verbal and written communication skills, as well as the ability to work effectively across internal and external organizations.
Inspires creative thinking and a “make it happen” mindset at all levels within the organization.
Ability to thrive in a fast-paced environment and manage multiple projects simultaneously.