Buyer Womenswear

**Designation**:Manager

**Updated**:December 10, 2024

**Location**:Karnataka, India

**Organization**:Apparels

**Key Result Areas**

Supporting Actions

Drive the selection & sourcing of Merchandise assortment/mix for women’s wear PRL stores
- Develop a comprehensive assortment strategy that aligns with Polo Ralph Lauren's brand identity and luxury standards for women's wear products.
- Oversee the selection of a wide range of women's wear items, including clothing, accessories, and footwear, ensuring they reflect the brand's iconic American style.
- Plan and execute seasonal assortments, taking into account India's regional variations and seasonal preferences.
- Utilize sales data, market research, and customer feedback to make data-driven decisions when curating the assortment and identifying top-performing products.
- Innovate the assortment by introducing new and exclusive products while balancing the inclusion of Polo Ralph Lauren's timeless classics.
- Create appropriate buying plan for women’s wear (WW) category as per Sales targets for PRL stores - Updating Order Master.
- Create Purchase Orders (POs), review Order Confirmation (OCs) and track the progress of orders to ensure on-time delivery.
- Creating in season express orders on a need basis.
- Set ARP targets for product categories
- Create Option plan and conduct depth analysis
- Formulate Stock to Sale plan for a season - EOM / BOM
- OTB calculation

Vendor Management
- Establish and nurture strong relationships with a network of international and domestic vendors, negotiating favorable terms, pricing, and delivery schedules to achieve the best value - Order Confirmation Management.
- Collaborate with vendors to maintain high-quality product standards, ensuring that products meet Polo Ralph Lauren's quality and design criteria and customer expectations.
- Monitor vendor performance, track order fulfillment, and address any supply chain issues promptly to maintain a consistent flow of merchandise.
- Develop and implement sourcing strategies that align with brand values, sustainability goals, and ethical sourcing practices.
- Stay informed about vendor trends, innovations, and market conditions, sharing relevant insights with the buying team for strategic decision-making.
- Build positive long-term relationships with vendors

Tracking Stock Management
- Plan, monitor & maintain Ideal stock inventory levels for women's wear products, ensuring that stock levels are optimized to meet customer demand while minimizing excess inventory.
- Analyze sell-through rates and stock turnover to make informed decisions regarding replenishments, restocking, and stock clearance.
- Collaborate with the Planning Team to align inventory management practices with merchandise planning and demand forecasting for seasonal variations.
- Implement inventory optimization strategies to minimize holding costs and ensure that the most popular products remain readily available to customers.
- Collaborate with the team to make informed decisions on markdowns and clearance strategies for slow-moving or seasonal items, optimizing profitability.
- Plan for inter-store transfers to achieve maximum value (AMM).
- Fill rate management.
- Ensure timely online availability of stock.
- Dormancy within specified norms
- Pullback within specified norms
- Maintain Sell-thru reports on Excel
- Photo Sell Through report

Information/Data Management
- Timely Updating Brand Catalogues.
- Updating UDA & BNF in style masters.
- Updating Brand sell-through reports.
- Creating top seller bottom seller reports.
- Preparing Sell-through reviews & department reviews.

Pricing Strategy
- Assist in developing pricing strategies for women's wear products that balance competitiveness with maintaining the luxury brand positioning of Polo Ralph Lauren.
- Conduct price elasticity analysis and competitive pricing benchmarking to determine optimal price points for different product segments.
- Collaborate with the team to set promotional pricing and markdown strategies that align with seasonal sales events and clearance periods.
- Stay informed about currency exchange rates and their potential impact on pricing for imported luxury products.
- Pricing Adjustments: Continuously assess pricing strategies and make recommendations for adjustments based on sales performance, market dynamics, and customer value perception.

Provide inputs for Monthly Target setting in each category
- Breaking up of Monthly targets into product category
- Target Vs achievement
- Merchandise plan report
- Product performance Lk2Lk

Being a custodian in formulating the Stock & sale plan
- Product category wise dispatch plan
- Planned Vs actual
- Allocation plan for each store as per dispatch plan and size wise analysis
- Tracking allocation vs. actual dispatches

Sales Analysis
- Regularly evaluate the sales performance of Polo Ralph Lauren women's wear products, analyzing key metrics such as revenue, units sold, and profit margins