Merchandise Buyer- Sourcing
Merchandise Buyer- Sourcing
THE DEPARTMENT:
The Merchandise Department supports the Product needs of Helzberg Diamonds by building powerful assortments, wide-ranging price points, bridal dominance, competitive quality and value across multiple fine jewelry categories and time pieces. The Merchandise team is responsible for identifying products that will sell, negotiating vendor contracts, and analyzing sales data to make sound purchasing decisions as well as searching globally for unique trends and hot selling jewelry products. The department has a significant impact on profitability by closely managing gross margin and inventory turns as well as asset/memo mix. Merchandise is an active partner with the Store Operations group and Marketing in driving Helzberg’s business.
POSITION SUMMARY:
This buyer role will concentrate on loose, call and strategic sourcing for the merchandise team. This role will develop and maintain merchandise assortments for assigned categories that will achieve budgeted sales and margin plans while adhering to specific inventory levels and budgets and meeting product quality standards. Serve as the internal supplier of loose diamonds as needed for product manufactured by Helzberg and assist the merchandising team with quality standards for all diamond product, including lab grown. Ensure competitive pricing for Helzberg’s sourcing of diamonds, gemstones and metals. The incumbent must have highly developed relationship building skills to build and maintain effective relationships with external merchandise vendors to achieve merchandising strategies.
PRINCIPAL ACCOUNTABILITIES:
SUPERVISORY RESPONSIBILITIES:
This position may supervise a staff of Associate Buyers, Assistant Buyers and/or Merchandise Detail Assistants and will be responsible for the following:
QUALIFICATIONS:
COMPETENCIES:
Analytical Thinking, Business Knowledge, Integrity, Leadership, Relationship Building
The Merchandise Department supports the Product needs of Helzberg Diamonds by building powerful assortments, wide-ranging price points, bridal dominance, competitive quality and value across multiple fine jewelry categories and time pieces. The Merchandise team is responsible for identifying products that will sell, negotiating vendor contracts, and analyzing sales data to make sound purchasing decisions as well as searching globally for unique trends and hot selling jewelry products. The department has a significant impact on profitability by closely managing gross margin and inventory turns as well as asset/memo mix. Merchandise is an active partner with the Store Operations group and Marketing in driving Helzberg’s business.
POSITION SUMMARY:
This buyer role will concentrate on loose, call and strategic sourcing for the merchandise team. This role will develop and maintain merchandise assortments for assigned categories that will achieve budgeted sales and margin plans while adhering to specific inventory levels and budgets and meeting product quality standards. Serve as the internal supplier of loose diamonds as needed for product manufactured by Helzberg and assist the merchandising team with quality standards for all diamond product, including lab grown. Ensure competitive pricing for Helzberg’s sourcing of diamonds, gemstones and metals. The incumbent must have highly developed relationship building skills to build and maintain effective relationships with external merchandise vendors to achieve merchandising strategies.
PRINCIPAL ACCOUNTABILITIES:
- Develop and implement merchandise assortments and projects for loose stones and call stones to meet objectives for all distribution channels. Understand competitive landscape; stay attuned to changing market dynamics and logistics.
- Conduct cost analysis on all diamond product, and other basic jewelry categories, to reduce overlap between channels, procurement costs and / or improve gross margin. Deliver year over year cost reductions through a total cost of ownership mindset.
- Be the primary contact and subject matter expert for our diamond certification partners, external laboratories and other supply chain relationships. Improve process and efficiencies with these vendors.
- Develop and manage partnerships with vendors, including negotiating favorable terms and sourcing to ensure all product meets the company's merchandising and financial objectives. Work with vendors to resolve issues.
- Evaluate vendor performance and make recommendations to merchandise on how to meet business needs.
- In conjunction with merchandise team, support the management of diamond feeds for the online builders.
- Develop a standard merchandise RFP process and perform, with assistance from the Buying Teams, merchandise RFPs on specific product categories.
- Manage support staff or assist with training and development of buying staff.
- Support the distribution center in maximizing the recovery of unwanted inventory for sell-off.
SUPERVISORY RESPONSIBILITIES:
This position may supervise a staff of Associate Buyers, Assistant Buyers and/or Merchandise Detail Assistants and will be responsible for the following:
- Accomplish department objectives by directing and monitoring the work progress of direct report.
- Provide coaching and guidance to direct report.
- Set expectations, annual goals and provide required quarterly touch base meetings with all direct report.
QUALIFICATIONS:
- Bachelor’s degree in Retail Management, Business Administration, or related field.
- Seven to ten years of merchandise management experience required, or an equivalent combination of education and experience.
- Extensive jewelry and diamond knowledge preferred, along with demonstrated vendor negotiation experience and project management skills.
- Experience in product planning and forecasting, vendor negotiations, pricing analyses and inventory control is required.
- Demonstrated knowledge of core buying skills required.
- Strong analytical skills, retail math and proficiency with Microsoft Word, Excel and PowerPoint required.
- Hybrid schedule with predictable onsite attendance required three or more days per week to perform essential functions involving interactive behaviors with co-workers and managers, operation or manipulation of equipment and/or materials located only on site, and direct interaction with internal and/or external customers.
COMPETENCIES:
Analytical Thinking, Business Knowledge, Integrity, Leadership, Relationship Building