Merchandise Planning & Inventory Manager
108 west 39th street New York, New York 10018
Title of Job: Merchandise Planning & Inventory Manager
Company Description: Outdoor Lifestyle Brand
Location: Brooklyn, NY
Looking for a Merchandise Planning and Inventory Manager with demonstrable experience in collaborating with Merchandising, Production and Marketing teams on the development of product strategies and leading the creation of the financial strategy including sales, margin and inventory. With this role we are looking for an individual with strong inventory skills who is more than usually passionate about working closely with systems. A demonstrable desire to solve problems and debug processes/systems issues leading to clear solutions and best practices are critical criterions for the successful applicant.
This role requires one who is savvy with Excel/Google Docs, as well as, has an ability to conceptualize, operate and explain existing processes in current and future systems. We are planning a move from a Quickbooks to a robust ERP environment and this role will be instrumental in supporting that process.
- Manages the financial success of division by meeting sales, gross margin, GMROI and inventory turn goals.
- Develops the tops-down and bottoms-up product and financial strategies inclusive of sales, margin and inventory across all categories of the Hard Goods Division.
- Responsible for building the assortment framework inclusive of growth assortment opportunities/productivity, style/sku targets, newness, flow deliveries, pricing and season code.
- Partners with Finance and Merchant Teams to create and manage inventory budgets and forecasts; Collaborates with Merchants to create pre-season sales, GM, and inventory plans by division/category that support product strategies; Manages the reconciliation of department targets and bottom-up plans; Reviews buy plans/strategies and ensures plans meet financial targets.
- Partners with Design, Merchandising and Production for developing assortment into a range that delivers IMU%
- Partners with Marketing/Digital Team on key investments aligned to big ideas, campaigns, activations and initiatives.
- Develops and presents in-season division/category sales and inventory forecast and strategies in OTB process; Identifies risks and opportunities across key product categories recommending course of action/strategies to optimize sales and inventory.
- Accountable for the inventory investment (style level buy) maximizing current inventory position, turn and gross margin return on investment (GMROI).
- Responsible for the management of basics inventory recommending best receipt timing.
- Recaps and analyzes sales performance on a weekly, monthly and seasonal basis to recommend comprehensive pre-season and in-season product and inventory strategies for improvement and growth.
Reporting and Data Management:
A unique role with a strong emphasis on understanding, communicating and supporting the successful operations of the various tracking and reporting systems. This requires extremely strong spreadsheet and analytical skills to pivot tops-down and bottoms-up appropriately to achieve high accuracy and efficiency.
- Acts as a go-to resource with Cross-functional Team in reconciling and resolving issues in various daily sales, inventory and product selling reports, data and systems.
- Takes on a role as a key partner with the production and merchandising teams to ensure data integrity and reconcile appropriately.
- Assists with tracking purchase orders including keying orders and maintaining corrections and revisions; manages transfers ensuring completion.
- Develops key reports and dashboards for better data flow across functions.
Inventory Allocation and Management:
- Allocates inventory across all channels by maximizing right time, product and place.
- Responsible for the assortment types (tiers) that are delivered within each store to maximize productivity and margin related to space planning and customer profile.
- Responsible for maximizing yield through allocation, replenishment, pre-season and in-season promotions and markdowns.
- Executes initial inventory releases; ensures consistent and profitable in-season replenishment.
- Recommend team of strategies to maximize inventory via split receipts and size balancing.
- Identifies and quantifies size selling, geographic and store-attribute opportunities to capture location-based opportunity; ensure follow through on execution of strategies.
- Advanced knowledge of the principles of Merchandise Planning, Inventory and Allocation as well as Retail Operations.
- Strong systems and tools acumen.
- Highly analytical, able to pivot conceptually, tops-down and bottoms-up.
- Extremely strong skills with Merchandise/Inventory Planning Software/Tools, Excel, ERP, Quickbooks experience desired.
- Ability to pivot mindset/approach based on needs of business.
- Minimum 5 to 7 years merchandise planning/buying/inventory management experience in a specialty retail environment.