
Fashion Product Sourcing Specialist
2 days ago
The primary objective of this role is to contribute towards the strategic development of Buying and Merchandising, ensuring seamless execution within this framework at all times.
Key Responsibilities:- Becoming responsible for all procurement-related matters and coordinating with vendors for designated departments.
- Focusing on sourcing the best resources at optimal prices to guarantee that products meet quality and cost-effectiveness standards for their respective brands.
- Collaborating with merchandising teams to ensure timely delivery of goods that satisfy assigned purchase orders.
- Conducting thorough market research to identify potential future product offerings by understanding customer preferences and emerging technological trends.
- Developing pricing strategies in conjunction with marketing and management, aiming to secure agreements with suppliers for optimal pricing.
- Sourcing the right products at the right time to fulfill customer requirements effectively.
- Optimizing current sourcing channels and identifying new opportunities.
- Supporting negotiations and collaborating with the supply base to achieve the best costs and margins.
- Closely working with designers on style development, design research trips, fabric, and print advice, as well as identifying best-sellers for next season's styles.
- Collaborating closely with merchandising teams; managing stock levels, style options, quantities, promotions, and markdowns.
- Monitoring competitors' activities through market research to understand trends, forecasting, and color, fabric, etc., patterns.
- Product presentation, packaging, and product development, as well as developing promotional plans.
- Reviewing and adjusting seasonal and weekly plans accordingly.
- Identifying and developing relationships with vendors.
- Securing Ranges after effective negotiation
- Collaborating with marketing and design to develop visual merchandising promotions aligned with themes and product launches.
- Ensuring timely delivery of samples by vendors.
- Setting standards for merchandise quality with Quality Assurance.
- Reconciling store plans and adjusting departmental financial plans.
- Conducting annual reviews of supplier performance with Quality Assurance.
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