
Product Sourcing Specialist
5 days ago
- Key Responsibilities:
- To contribute to the development of a comprehensive buying strategy and ensure alignment with divisional objectives.
- Coordinate with vendors to source high-quality merchandise at optimal prices, ensuring cost-effectiveness for respective brands.
- Work closely with the merchandising team to guarantee timely deliveries that meet assigned purchase orders.
- Conduct thorough market research to identify potential future product offerings, staying abreast of customer preferences and emerging trends.
- Collaborate with the marketing department to devise pricing strategies across various product lines, aiming to secure favorable agreements with suppliers.
- Source the right products at the right time to fulfill customer requirements, while maximizing current sourcing channels and exploring new opportunities.
- Support negotiations with suppliers to achieve best costs and margins.
- Assist designers in developing styles, providing fabric and print advice, and informing best sellers for move-on styles.
- Partner with the merchandising team to manage stock, style options, quantities, promotions, and markdowns.
- Maintain awareness of competitor activities through market research, tracking trends, forecasting, and analyzing color and fabric choices.
- Develop promotional plans for product presentation, packaging, and product development.
- Review and adjust season plans and weekly plans.
- Identify and develop vendors.
- Negotiate for effective range merchandise procurement.
- Collaborate with marketing and design to create visual merchandising promotions aligned with themes and product launches.
- Ensure timely delivery of samples by vendors.
- Establish quality standards for merchandise with QA.
- Reconcile store plans and finalize departmental financial plans.
- Support negotiations with suppliers to achieve best costs and margins.
- Collaborate with merchandising on stock management, style options, quantities, promotions, and markdowns.
- Conduct annual reviews of supplier performance with QA.
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