Buyer - Furniture (Upholstery)
The job holder will be responsible for developing strategic buying plans for the assigned category to achieve the strategic and financial objectives of Home Box. Also, responsible to ensure smooth buying operations through Product Sourcing, vendor identification, evaluation and selection for the category.
Business Planning & Category Management:
Develop comprehensive business plans that are consistent with the company's overall goals and strategies.
Category SWOT analysis vis a vis competition and assess market opportunity for the his/her category.
Monitor & review the performance of category business plans by using appropriate scorecard
Oversee the category management with the objective of maximizing sales and profits
Plan and approve the merchandising budget for the category
Discuss, decide and freeze the merchandise plans (pricing, promotion and assortment) and ensure effective in season management
Product, Trend & Market Research
Keep abreast of the latest trends in buying and assess realign the existing processes
Identify and leverage alternate buying opportunities to source products and to ensure that company maintains its competitive edge by constant renegotiation
Ensure effective communication, collation and follow-up on various product requirements and findings obtained from the sales/store data
Gather information from Industry trade groups or through trade shows/market visits
Develop an adequate vendor base for the company through attending Fair & Exhibitions
Build and maintain relationships with vendors and suppliers and negotiate the best deals with them for procuring merchandise
Maintain contact with vendors; update list of vendors for bidding purposes; attend product demonstrations, obtain samples and literature regarding potential products and vendor capabilities and confer with end users
Identify, evaluate and select appropriate vendor mix to achieve business objectives
Place orders for the new items and initiate repeat orders for the categories he is responsible based on the buying plan and ensure merchandise is delivered as per the plan based on the agreed service level agreement.
Monitor sales and movements of the new launched products and suggest merchandise planners to initiate re-orders or to de-list the range if it is not moving
Implement financial and credit services agreement with the vendor that maximize profit and positively contribute to cash flow
Market & Competition study
Market & competition study in categories he is responsible and suggests new product ranges accordingly
3-5 years of relevant experience from buying (Furniture preferably) & from Retail industry
Good knowledge of Furniture category
Knowledge in Retail planning & Merchandising is must with Strong Analytical skills
Must be from design background (Ex: NIFT)
Vendor management & Strong negotiation skill
Planning and organizing skills
Commercial business acumen
Market research & Competition study