About This Role
The Strategic Sourcing Specialist is responsible for acquiring, developing, and managing merchandise assortments to achieve sales, margin, and turnover targets for their buying areas. This role involves creating the appropriate merchandise mix and developing category and supplier strategies in partnership with a DVP and Planner.
Responsibilities
- Develop and execute merchandise assortment strategies to meet or exceed financial goals
- Product development as needed in accordance with the respective brands, departments, and concepts
- Partner with Planner to manage and adhere to Open-to-Buy (OTB) budget
- Work with vendors to resolve purchase order discrepancies and compliance issues
- Analyze business at division, department, class, subclass, attribute, and store level
- Create and maintain open lines of communication with Planner, Store Managers, Regional Managers and other co-workers
- Negotiate with vendors to secure the best terms for maximum margin results, including supplier income, and best pricing as well as markdown and/or RTV agreements
- Prepare for and participate in regular Merchandising meetings such as Weekly Performance Meetings, Month End Review / OTB meetings, Collaboration meetings, New Store Review meetings, etc.
- Develop seasonal trend presentations and participate in seasonal workshops to educate the field organization (applicable by merchandise category)
- Visit our stores (including visits on location as requested) to evaluate assortments, presentations, stock levels, marketing, customers, and obtain feedback from store personnel
- Visit competitors to evaluate pricing, assortments, and market trends for possible opportunities
- Carry out tasks related to new stores, including research into new markets (including visits on location as requested), participating in Planogram meetings, developing new assortments for new concepts or stores, etc.
- Work closely with Planner to manage allocation, reorder flow, and product lifecycle including promos, markdowns, transfers and RTVs
Requirements
- 2+ years of merchandise buying experience within a multi-unit retail organization
- Product development and assortment planning experience required
- Strong command of merchandising and retail math, including Open-to-Buy (OTB) management
- Ability to adapt, multi-task and problem solve in a fast-paced and changing environment
- Advanced computer skills, including Microsoft Office (Outlook, Word, Excel, PowerPoint) and experience with a merchandising software platform
