Merchandising Executive-Category

Job DescriptionUnique Job RoleExecutive - Category Merchandising JewelleryFunctionMerchandising Reporting toManager Category Merchandising JewelleryBusinessJewellery Grade Date-Job DetailsTo ensure right product/ merchandise mix in the stores by analysing overall market trends & competition while studying the respective store catchment areas to ensure continuity in the product supply to improve the profit marginsExternal Interfaces

Internal Interfaces

• Vendors
• Third Party Service Providers
• Regional sales teams
• Design teams
• Product and Brand teams
• ISCM teams
• Support teams
• Job RequirementsEducationGraduate Relevant Experience0- 5 years Behavioural SkillsCustomer orientation
• Detail orientation
• KnowledgeCategory management experience
• Analytical ability

• Process ContributionsProcess ContributionProcess OutcomePerformance MeasureMerchandising: Planning & forecasting: Demand planningCreate the three months rolling sales forecast and develop the sales variance & intervention recommendations
• Provide inputs to develop the tactical offer sale profitability forecast

• Annual business plan
• Year on Year business growth

• Merchandising: Planning & forecasting: Annual Merchandising planningCollect feedbacks from various stakeholders like customers, vendors and store staff and provide inputs on the current Tanishq product universe
• Support the team to develop the merchandising plan with Tanishq strategic growth levers as the fundamental building blocks
• Collate data and supporting information for sign off on the merchandising plan with the senior management
• Identify the list of focus stores based on inputs from regional teams like wedding destination stores etc.

• Annual Merchandising plan
• Year on Year business growth

• Merchandising: Planning & forecasting: Gross Contribution planningCoordinate in creating the mark-up model (stone & making charges) on F1 & F2
• Organise gross contribution benchmarking activity across relevant competitors
• Provide inputs to design discount pay-out and variance management and seek final approval from Head Merchandising Jewellery
• Provide support to develop the offer/ discount management activity along with the team and seek approval from Head Merchandising Jewellery on the designed plan
• Provide inputs to design the making charge variance across regions and seek approvals on changes from Head Merchandising Jewellery

• Gross Contribution plan
• Year on Year margin growth

• Merchandising: Pricing: Promotion & Markdown strategyProvide inputs to conduct evaluation of scheme & promotions effectiveness and propose countermeasures
• Identify poor performing products and suggest improvements
• Ensure the Seasonal offer deployment and coordinate with relevant teams like retail, commercial, IT etc. post the offer for smooth transition

• Promotion Calendar
• Year on Year business growth
• Year on Year margin growth
• Customer satisfaction score

• Merchandising: Policy Changes Support the team and provide information to design policy alteration to accommodate low GC products using geography and product attributes

• Policy documents
• Customer satisfaction score

• Merchandising: PricingProvide support to conduct the competitive Price Benchmarking exercise
• Create the product attribution for price benchmarking
• Provide support for new product pricing through attribute-based pricing, AMC revisions and gross margin review

• Pricing model
• Year on Year revenue growth
• Customer satisfaction score

• Merchandising: Product Management: Product Portfolio ManagementProvide support to manage the entire product lifecycle from inception to product retiral
• Provide inputs on range expansion within a collection
• Collate the BBPM performance evaluations for all vendor returns
• Allocate the New Product Introduction tagging on the identified products
• Provide inputs on the model stock recommendations for assortment planning
• Assist to raise indents for regular products - full trousseau, best seller during season etc.
• Identify new dedicated product library to consume slow moving inventory to improve operational efficiency
• Provide support and information to develop the sell through analysis for lifecycle management and approve countermeasures

• Life cycle management document
• Year on Year business growth
• Customer satisfaction score

• Merchandising: Product Management: New Product DevelopmentCollate the bottom-up feedback on new products
• Provide support and information to create the assortment plan for new products - region/customer segment specific based on inputs
• Provide support to conduct periodic canvassing with L3s for indent enhancement, seasonal up stocking etc. to improve new product penetration
• Provide support to introduce of future scalable collections/concepts via Pilots - VPIM, BBPM

• New product introduction calendar
• Year on Year business growth
• Customer satisfaction score

• Merchandising: Inventory management: Norms finalizationDevelop the boutique level split of category based on the sale target evaluation
• Develop the minimum range and norms at store level based on sales plan and turn targets
• Support in cascading the norms developed across all stores and ensure deployment

• Store-wise norms
• Customer satisfaction score
• Number of cases of non-availability of product

• Merchandising: Inventory management: Stock turnSupport the teams to ensure constant availability of best sellers, new products and ad variants in the stores
• Manage the stock levels in the special intervention stores and categories
• Support in identifying and creating timely IBTTs for ageing prevention
• Provide inputs on the best deal stock rotation
• Provide inputs on regular and special melting recommendations

• Stock turn policy
• Customer satisfaction score
• Number of cases of non-availability of product

• Merchandising: Inventory management: New store indentingDevelop the ROI calculations for store- wise assortment planning
• Create the list of model stock and raise the first indent
• Provide inputs on the first month buffer for a new store and place indents
• Provide inputs to develop strategies for front end up selling/cross selling
• Develop the preliminary level of planogram in coordination with Retail ops and VM team

• Store-wise norms
• Customer satisfaction score
• Number of cases of non-availability of product

• Retail Operations: Store Operations: Training & DevelopmentProvide support to create and develop the training Content and Modules to enable the sales staff

• Training calendar
• Year on Year business growth
• Number of customer complaint reduction

Category Management, Data Analytics, Product Knowledge, Jewelry Industry Experience (preferred)

Merchandising / Inventory Management