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Gold and Diamond Procurement Manager

1 week ago

Bengaluru, Karnataka, India GIVA Full time
About the Opportunity

GIVA is seeking an experienced Gold and Diamond Procurement Manager to join our team. As a key member of our purchasing department, you will be responsible for sourcing and managing gold and diamond jewellery products that meet our customer demands.

Main Responsibilities
  1. Supply Chain Management:
  • Identify and establish relationships with reliable and reputable gold and diamond suppliers, manufacturers, and wholesalers.
  • Evaluate suppliers based on product quality, reliability, and ethical practices.
  • Negotiate pricing and terms with suppliers to ensure competitive pricing and favourable conditions.
  1. Market Intelligence and Research:
  • Stay updated on current gold and diamond market trends, including prices, supplies, and demand.
  • Analyse consumer preferences, demands, and purchasing patterns to identify opportunities for product assortment improvement.
  • Conduct market research to identify emerging trends and potential suppliers to stay ahead of competitors.
  1. Product Sourcing and Quality Assurance:
  • SOURCE and select gold and diamond jewellery products that meet our customer demands.
  • Evaluate and assess jewellery products based on quality, design aesthetics, market demand, and pricing.
  • Ensure the assortment includes a range of price points and styles to cater to different customer segments.
  1. Pricing and Profitability:
  • Determine pricing strategies that balance profitability with market competitiveness.
  • Monitor market trends, analyse pricing structures, and conduct cost analyses to optimize margins.
  • Regularly review and adjust pricing based on market dynamics, supplier costs, and customer demands.
  1. Inventory Management:
  • Monitor and maintain optimal inventory levels to meet customer demands and minimize excess stock.
  • Collaborate with inventory control teams to plan stock replenishment and ensure availability of popular items.
  • Analyse sales data and product performance to make informed inventory purchasing decisions.
  1. Quality Control and Compliance:
  • Ensure all purchased jewellery products meet quality standards and comply with industry regulations.
  • Conduct quality inspections and coordinate with suppliers to address any quality issues promptly.
  • Stay informed about ethical sourcing practices and ensure suppliers adhere to responsible and sustainable practices.
  1. Communication and Collaboration:
  • Collaborate with marketing and sales teams to align product assortment with promotional activities and marketing campaigns.
  • Coordinate with merchandising teams to plan product displays, promotions, and seasonal collections.
  • Communicate effectively with internal stakeholders and suppliers to ensure smooth supply chain operations and timely delivery.
Qualifications and Skills
  • Bachelor's degree in fashion technology, fashion merchandising, or a related field.
  • Proven experience (5-7 years) as a Jewellery Buyer or in a similar role within the jewellery industry.
  • In-depth knowledge of jewellery materials, designs, manufacturing processes, and market trends.
  • Strong negotiation skills and the ability to build and maintain supplier relationships.
  • Analytical mindset with the ability to interpret market data and sales trends.
  • Excellent communication, presentation, and interpersonal skills.
  • Detail-oriented with a keen eye for quality, design aesthetics, and market demands.