Job Accountabilities
- After performing research on product trends and customer demand, you will be required to develop strategies for new and existing products that could improve the overall sales performance for the category.
- Study the sales trend, consumer behavior, their needs and wants and appropriately make buying plans to ensure that the revenue targets for the category are met.
- Design the exit strategies for the low sellers and non-sellers to ensure that ROI is maximized for the category.
- You will require to also work with the marketing & sales team and build the sales strategies in order to maximize the revenue for the category. Will share the insights of the sales pattern and guide the marketing team in developing various promotional strategies for the category.
- Appropriate pricing strategies need to be worked upon after studying the market trends. Ensuring that products are priced appropriately to maximize the revenue growth of the category.
- Would be required to work closely with the store team on the product displays, visual team and ensure that products at the stores are aligned to the sales goals and line planned .
- Would be responsible for planning the product line in accordance with the sales target. Will have to work closely with the design team for the development of the new product ranges. Will also work closely with the sales and product development team for the expansion of the category to maximize the category revenue.
- Ensuring that new season launches for the product category are made timely and there is no opportunity lost in generation of sales revenue for the category.
- Will be responsible to create, manage and track the budgets for the category and ensure that resources are optimally utilized.
- Will strategically work closely with all store teams and ensure that revenue targets for the category is met. Will also work closely with the marketing team to develop the new business opportunities for the enhancing the revenue growth for the category.
- Will be responsible and accountable to generate the required revenue numbers for the category and ensure that minimum margins are protected for the category.
Manage Inventory
- Checking inventory levels, procuring additional stock, and getting rid of excess or unwanted inventory.
- Inventory management tasks include handling product placement, optimizing storage, and creating regular reports on product availability. Ensuring that all required MIS, product presentations and other required reports are shared with the respective teams and authorities and enabling the decision making regarding the purchase and liquidation of the stocks.
- Forecasting demand and ensuring that supplies are in line with the sales and vice versa. Will control and monitor all supply chain functions with the suppliers of the category.
Monitor Performance
- As a category head you will be required to monitor the performance of both individual products and their category overall. This involves using data to determine the best- and worst-performing products, creating profit and loss statements, and assessing performance against competitors. Using this information, category manger will assess their product and category strategies and develop solutions to improve performance.
Vendor evaluation and development
- Considering vendor performance, quality, and costs, you will be required to seek vendors in the industry, request information, and use your criteria to choose the best suppliers for their category’s products. You will be responsible for negotiating the delivery, payment and other terms with the vendor as per the policies of the company. Will also monitor vendors’ adherence to contractual terms throughout the relationship.
- Will work closely with outside vendors and the design & sourcing team for the development of the new product ranges.
Quality
- Will ensure correct selection of the product range at the time of design selection to avoid customer returns /quality claims. Will also be required to work closely with the quality department and give your valuable suggestions.
Desired Skills and Experience:
- Experience of 12- 15 years
- Working in similar position for last 5 years
Salary:
- Negotiable
Reporting:
- Executive Director
Job Category: Design Studio