Merchandise Sourcing Manager
Merchandise Sourcing Manager
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 role focuses on strategic sourcing for the Merchandise team, by securing competitive component pricing for diamonds, gemstones, metals, labor, certification, and related services. The position requires a strong understanding of the jewelry supply chain to identify cost savings and improve supply chain efficiencies by partnering with vendors to support speed to market, merchandising strategies, and financial KPIs. The role also manages relationships with independent laboratories by negotiating costs, optimizing their role in the supply chain, and supporting timely product certification and testing. In partnership with Quality Assurance and Merchandise, this position helps establish, communicate, and maintain diamond and gemstone quality standards.
This role is also responsible for developing and maintaining assortments for loose diamonds and call stones to achieve budgeted sales, margin, and inventory objectives. Success in this position requires strong relationship-building skills and the ability to collaborate effectively with internal stakeholders and external vendors to advance Helzberg’s merchandising and sourcing strategies.
PRINCIPAL ACCOUNTABILITIES:
SUPERVISORY RESPONSIBILITIES:
This position may supervise a sourcing coordinator 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 role focuses on strategic sourcing for the Merchandise team, by securing competitive component pricing for diamonds, gemstones, metals, labor, certification, and related services. The position requires a strong understanding of the jewelry supply chain to identify cost savings and improve supply chain efficiencies by partnering with vendors to support speed to market, merchandising strategies, and financial KPIs. The role also manages relationships with independent laboratories by negotiating costs, optimizing their role in the supply chain, and supporting timely product certification and testing. In partnership with Quality Assurance and Merchandise, this position helps establish, communicate, and maintain diamond and gemstone quality standards.
This role is also responsible for developing and maintaining assortments for loose diamonds and call stones to achieve budgeted sales, margin, and inventory objectives. Success in this position requires strong relationship-building skills and the ability to collaborate effectively with internal stakeholders and external vendors to advance Helzberg’s merchandising and sourcing strategies.
PRINCIPAL ACCOUNTABILITIES:
- Monitor, analyze, and report on industry trends related to component costs, availability, and supply chain implications; recommend organizational actions based on current market conditions.
- Develop and manage strategic partnerships with diamond certification partners, external laboratories, vendors, and other supply chain relationships by serving as the primary subject matter expert, negotiating favorable terms, improving processes and efficiencies, resolving vendor issues, and ensure products support the company’s merchandising and financial objectives.
- Negotiate and maintain component grids for diamonds, gemstones, labor and certification to ensure fair and advantageous cost that support gross margin and strategic objectives.
- Own vendor report Card to enable evaluation on vendor performance and make recommendations to merchandise on how to meet business needs.
- Collaborate with QA team and Merchandise Team to establish quality standard for diamonds and other components based on market conditions. Communicate standards to vendors as needed. Onboard new vendors
- Develop and implement merchandise assortments and projects for loose stones and call stones to meet assortment and financial objectives for all distribution channels.
- Own sourcing projects that improve speed to market, supply chain efficiencies, and other merchandise sourcing strategic objectives by establishing timelines, defining deliverables and expectations, and monitoring and reporting progress
- Conduct cost analysis and lead merchandise RFP processes across diamond products and other basic jewelry categories, partnering with Buying Teams to identify cost-reduction opportunities, reduce channel overlap, improve procurement efficiency, and deliver year-over-year gross margin improvements.
- Provide regular business recaps on assortment performance, KPIs and strategic initiatives.
- Manage support staff or assist with training and development of buying staff.
SUPERVISORY RESPONSIBILITIES:
This position may supervise a sourcing coordinator and will be responsible for the following:
- Accomplish department objectives by directing and monitoring the 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