Inventory management Jewellery - North America

Job Description

To ensure right Product are available at right Quantity in right location by Analysing Sales trend and do the Demand and assortment planning as per the Sales Target for the Groups. Anchoring all the merchandising initiatives for all online channels. External Interfaces Internal Interfaces Local External Vendors across the Globe ISCM Team Invoicing | Commercial Team IBD Merchandising Team Business Team System Team Marketing Team Job Requirements Education Graduate Relevant Experience 2- 8 years, Preferable someone who has worked in Jewellery industry. Behavioural Skills Relationship orientation Detail orientation Innovation Understanding of Jewellery as a category On time Execution Flexible Time working (Night shift/ Saturday) Knowledge High Analytical Skills. Data Interpretation. Basic understanding of Omni operations. Proficient in MS Office and DBMS. Process Contributions Process Contribution Process Outcome Performance Measure Merchandising: Inventory management: Norms finalization 1. Create the Norm for both Category Level and Boutique level split based on the final Sales target shared by the Category and Retail Team 2. Using Scientific method, Develop Assortment Plan with Minimum Range and Norms at store level Based on Sales Plan and Turn Targets 3. Cascade the Norms to the respective Category team and incorporate the changes and then cascade to Retail team and ensure deployment of the same in One beat. 4. For New Stores and the online channels, arrive at Boutique Level and Category level norms based on Approved ROI and in discussion with the category team. Store-wise norms Customer satisfaction score Number of cases of non-availability of product Merchandising: Assortment Planning for Existing, New Stores 1. Assortment planning for maximizing sales and support key category initiatives. 2. Analyse the sales data and Prepare SKU Classification and finalize the SKU Best seller list & North America stores Products list based on existing process. 3. Prepare Model Stock for existing stores and new stores as per the finalized Norms with the best sellers. 4. First Indent placement of new stores well in advance for new stores to ensure availability of stocks during store launch 5. Ensure Enough coverage of MS are available against the Norms and timely intimation of Low allowance to category team for New Product Development. Correct assortment Sales Growth Non-Conversion Rate reduction Merchandising: Buffer Management & Demand Planning 1. Inventory Deployment Weekly limit preparation, ensure FG alignment against the total Norm, Analysis against each CatPB. 2. Timely Intervention of Stocks in Special Intervention stores and allocation of Key Categories in certain markets and websites to leverage the Potential Sales opportunity. 3. Seasonal planning to be done well in advance and adequate indents are placed for the Group Categories. Stock turn policy Customer satisfaction score Number of cases of non-availability of product Merchandising: Alignment 1. Ensure Alignment of Stocks on a Boutique Category Price band level based on the Agreed Norms 2. Ensuring Daily allocation of stocks by maximising systemised allocations through One-beat based on Gaps in the boutiques and websites and priority stores. 3. Ensure Bestsellers, of North America stores must haves and New Products are continuously available in stores and websites for sales Alignment of Stocks Right number of stocks for sales Number of cases of non-availability of product Merchandising: Redistribution & Tail Rotation 1. Ensure all aged stocks are rotated on a Timely basis to high potential stores as per Rotation Policy 2. Coordinate with Business teams to ensure timely completion of all recalls and Rotation. 3. Identify Dud/Sludge variants and recommend it for melting to the Inventory and category team. 4. Reduce the aging of MTR Buffer Stocks Adherence to Redistribution & Tail Rotation Policies Reduction of sludge inventory Potential Increase in sales and sell thru Merchandising: Product Management: Product Portfolio Management 1. Provide support to manage the entire product lifecycle from inception till product retiral. 2. Identify and deploying NOOS/Best sellers 3. Provide inputs on range expansion within a collection. 4. Provide Tagging recommendations of new products in One beat for continuous replenishment Life cycle management Year on Year business growth Customer satisfaction score Merchandising: Product Management: New Product Assortment Planning 1. Based on the Inputs from the Category Team and the Process laid out, create the Assortment plan for New Products with ensuring maximum availability of all AD variants. 2. Ensure availability of new products in stores well in advance by coordinating with SCM & Invoicing Team. 3. Post the campaign launch, Analyse the sales data, and identify the potential best sellers and dud stocks and take appropriate actions by discussing with Category team 4. Ensure timely deactivation of all Dud Stocks from the system to prevent any indenting New product introduction Year on Year business growth Customer satisfaction score Alignment Merchandising: Liaison with Retail Team 1. Faster resolution of queries/requirements from the store teams. 2. Incorporating feedback from stores - Non purchaser/ATR 3. Store visit and regular interaction with retail team. 4. Execution of projects/pilot experiments pertaining to assortment planning, improving store profitability metrics such as Stock Turn, AMC realisation and Studded share enhancement Stakeholder engagement Improvement in performance metrics on intervened categories To ensure right Product are available at right Quantity in right location by Analysing Sales trend and do the Demand and assortment planning as per the Sales Target for the Groups. Anchoring all the merchandising initiatives for all online channels. External Interfaces Internal Interfaces Local External Vendors across the Globe ISCM Team Invoicing | Commercial Team IBD Merchandising Team Business Team System Team Marketing Team Job Requirements Education Graduate Relevant Experience 2- 8 years, Preferable someone who has worked in Jewellery industry. Behavioural Skills Relationship orientation Detail orientation Innovation Understanding of Jewellery as a category On time Execution Flexible Time working (Night shift/ Saturday) Knowledge High Analytical Skills. Data Interpretation. Basic understanding of Omni operations. Proficient in MS Office and DBMS. Process Contributions Process Contribution Process Outcome Performance Measure Merchandising: Inventory management: Norms finalization 1. Create the Norm for both Category Level and Boutique level split based on the final Sales target shared by the Category and Retail Team 2. Using Scientific method, Develop Assortment Plan with Minimum Range and Norms at store level Based on Sales Plan and Turn Targets 3. Cascade the Norms to the respective Category team and incorporate the changes and then cascade to Retail team and ensure deployment of the same in One beat. 4. For New Stores and the online channels, arrive at Boutique Level and Category level norms based on Approved ROI and in discussion with the category team. Store-wise norms Customer satisfaction score Number of cases of non-availability of product Merchandising: Assortment Planning for Existing, New Stores 1. Assortment planning for maximizing sales and support key category initiatives. 2. Analyse the sales data and Prepare SKU Classification and finalize the SKU Best seller list & North America stores Products list based on existing process. 3. Prepare Model Stock for existing stores and new stores as per the finalized Norms with the best sellers. 4. First Indent placement of new stores well in advance for new stores to ensure availability of stocks during store launch 5. Ensure Enough coverage of MS are available against the Norms and timely intimation of Low allowance to category team for New Product Development. Correct assortment Sales Growth Non-Conversion Rate reduction Merchandising: Buffer Management & Demand Planning 1. Inventory Deployment – Weekly limit preparation, ensure FG alignment against the total Norm, Analysis against each CatPB. 2. Timely Intervention of Stocks in Special Intervention stores and allocation of Key Categories in certain markets and websites to leverage the Potential Sales opportunity. 3. Seasonal planning to be done well in advance and adequate indents are placed for the Group Categories. Stock turn policy Customer satisfaction score Number of cases of non-availability of product Merchandising: Alignment 1. Ensure Alignment of Stocks on a Boutique Category Price band level based on the Agreed Norms 2. Ensuring Daily allocation of stocks by maximising systemised allocations through One-beat based on Gaps in the boutiques and websites and priority stores. 3. Ensure Bestsellers, of North America stores must haves and New Products are continuously available in stores and websites for sales Alignment of Stocks Right number of stocks for sales Number of cases of non-availability of product Merchandising: Redistribution & Tail Rotation 1. Ensure all aged stocks are rotated on a Timely basis to high potential stores as per Rotation Policy 2. Coordinate with Business teams to ensure timely completion of all recalls and Rotation. 3. Identify Dud/Sludge variants and recommend it for melting to the Inventory and category team. 4. Reduce the aging of MTR Buffer Stocks Adherence to Redistribution & Tail Rotation Policies Reduction of sludge inventory Potential Increase in sales and sell thru Merchandising: Product Management: Product Portfolio Management 1. Provide support to manage the entire product lifecycle from inception till product retiral. 2. Identify and deploying NOOS/Best seller’s 3. Provide inputs on range expansion within a collection. 4. Provide Tagging recommendations of new products in One beat for continuous replenishment Life cycle management Year on Year business growth Customer satisfaction score Merchandising: Product Management: New Product Assortment Planning 1. Based on the Inputs from the Category Team and the Process laid out, create the Assortment plan for New Products with ensuring maximum availability of all AD variants. 2. Ensure availability of new products in stores well in advance by coordinating with SCM & Invoicing Team. 3. Post the campaign launch, Analyse the sales data, and identify the potential best sellers and dud stocks and take appropriate actions by discussing with Category team 4. Ensure timely deactivation of all Dud Stocks from the system to prevent any indenting New product introduction Year on Year business growth Customer satisfaction score Alignment Merchandising: Liaison with Retail Team 1. Faster resolution of queries/requirements from the store teams. 2. Incorporating feedback from stores - Non purchaser/ATR 3. Store visit and regular interaction with retail team. 4. Execution of projects/pilot experiments pertaining to assortment planning, improving store profitability metrics such as Stock Turn, AMC realisation and Studded share enhancement Stakeholder engagement Improvement in performance metrics on intervened categories