Senior Merchandising Head

Job Description

Purpose of the Role: The Senior Merchandising Head is responsible for leading inventory planning, procurement, sales performance evaluation, and vendor management. The role requires strong market analysis, strategic planning, and collaboration with cross-functional teams to optimize inventory levels and enhance sales. Key Responsibilities: I. Inventory Planning and Merchandising Strategically manage and optimize inventory levels to align with customer demand while minimizing costs and risks. Analyze historical sales data, market trends, and customer behavior to make informed decisions. Collaborate with product managers and buyers to curate product assortments aligned with market preferences and brand positioning. II. Stock Preparation and Forecasting Prepare reports on daily, weekly, and monthly sales trends to forecast demand for jewelry and articles. Determine stock requirements based on sales data and market trends. III. Inventory Procurement Procure inventory based on sales performance and recommended stock levels. Implement a replenishment program for stock orders and purchase requisitions. Work closely with the design team for new stock order requirements. Oversee component procurement in coordination with the Diamond & Gemstone department. Assign vendors and approve purchase requisitions for stock and sales orders. Conduct weekly store visits for stock evaluation and feedback collection. IV. Sales Performance Evaluation Assess vendor sales performance and recommend re-orders. Generate vendor performance reports based on sales data. Identify high-performing products and optimize stock allocation. V. Ageing Analysis Conduct periodic ageing analysis of inventory across defined time periods (0-90 days, 91-180 days, etc.). Recommend actions such as vendor returns, unset/melting processes, and clearance strategies based on ageing analysis. VI. Vendor Management Select and onboard new vendors based on product quality, cost, and delivery efficiency. Finalize labor charges and gemstone costs in collaboration with the BOD. Establish vendor agreements and ensure compliance with procurement policies. VII. Communication and Collaboration Effectively communicate inventory updates, insights, and recommendations to senior management. Provide actionable inputs to improve sales and stock efficiency. Collaborate with internal teams, including design, production, and sales, to ensure seamless inventory flow. VIII. Documentation and Compliance Maintain accurate and up-to-date documentation of inventory procedures and policies. Ensure proper record-keeping for procurement and vendor agreements. IX. Data Management and Reporting Manage and maintain inventory data within management systems. Generate and analyze periodic reports to support strategic decision-making. X. Periodic Review and Stock Rotation Conduct regular stock reviews and initiate inter-store inventory swaps as needed. Identify slow-moving inventory and implement corrective actions. XI. Market Research and Trend Analysis Stay updated on jewelry market trends and evolving customer preferences. Nominate and lead inventory teams to visit trade fairs, exhibitions, and awareness programs. Leverage market insights to enhance stock selection and design collaborations.