Buyers provide collaborative guidance with respect to the departmental merchandise approach within the POD team, and are responsible for meeting planned sales, margin percent and dollars and inventory turnover goals for their designated area. The objectives of this position will be met through focused merchandise assortments, productive marketing and sound financial merchandise management. Buyers plan and select the range, type and quantity of products according to customer demand, industry trends, store policy and financial budget. By thoroughly understanding customer needs, Buyers maximize profits and provide a viable range of merchandise priced in accordance with the category role assigned to their categories. Staying abreast of market trends and reacting to changes in demand are key elements of the role. This position is responsible for ensuring that merchandise is purchased, marketed, and presented to maximize sales results while enhancing the overall department, group and company strategy.
Buyers report directly to the Division Merchandise Manager or General Merchandise Manager and have management responsibility for Associate Buyers, Assistant Buyers and/or Merchandise Assistants. Buyers work closely with Planning, Allocation, Replenishment Buying, Promotional Planning, Store Operations, Global Sourcing, Pricing, Category Management, Private Label, Visual Merchandising and Vendor Management to enhance sales, profitability and shareholder value. Buyers are responsible for embracing Family Dollar’s store-centric commitment to customers, customer service and sales.
Principal Duties & Responsibilities:
- Develop and execute buying strategies designed to meet or exceed sales, margin and inventory turnover goals
- Monitor performance compared to plan and identify trends and opportunities\\
- Manage all aspects of the merchandise offering including product selection, vendor negotiations, promotional planning, store placement and distribution.
- Develop customer-centric strategic and detailed assortment plans and ensure that merchandise selection matches customer demands and expectations
- Responsible for brand management, product development and managing the open market. Integrate brand (including private label), sourcing, marketing, tech services and retail supply chain functions into the merchandising process to make business decisions.
- Provide strategic input to the Merchandise Planners to develop a merchandise plan and complete accurate forecasts by evaluating all relevant financial information, including current trends and anticipated market changes. Provide input and support to the planning organization in the development of merchandise plans, seasonal plans, assortment plans, key item strategies, ladder plans and others
- Work collaboratively with Planners and Pricing to execute markdown management in accordance with Family Dollar policy
- Ensure merchandise mix provides an appropriate balance between quality, quantity, style, size and price consistent with the brand character of the company
- Develop and present FASTER strategies and assortment reviews to senior management
- Partner with the global sourcing team to identify and capitalize upon direct sourcing opportunities, as well as quality control team to ensure quality of products
- Establish collaborative relationship with the allocation team to ensure the proper balance and availability of merchandise. Communicate and work with replenishment to achieve stated goals related to service levels and inventory turn
- Partner with marketing team to design marketing and promotional plans that maximize incremental sales, gross margin dollars and coop. Ensure accuracy of promotional information including pricing and signage
- Develop and maintain strong relationships with vendor partners and consistently operate within Family Dollar Stores standards, policies and Codes of Ethics. Manage individual vendor performance and vendor mix to maximize profitability and achieve overall financial objectives
- Initiate all system input required to initiate new items and vendors and ensure necessary changes are made to maintain the accuracy of essential information
- Coach and develop Associate and Assistant Buyers, as well as Merchandise Assistants, to ensure growth and readiness for next level position
- Attend relevant trade shows, markets and events to identify market trends, gather product information, select merchandise and establish business relationships with viable vendors
- Shop local Family Dollar stores, as well as other comparative retail stores, on a regular basis to identify new trends and opportunities, evaluate merchandise mix, evaluate competition, and translate findings into executable product plans
- Responsible for work-related travel (approximately 10 – 20% of the time)
- Other job-related duties as assigned
Office work environment, 40+ work hours per week
Education: Bachelors Degree from a four-year college or university or equivalent experience / training preferred
Experience: 3 or more years of related merchandising experience and 2 or more years of buying experience.
Job Related Skills:Demonstrated leadership and decision making skills
Computer Skills: Must be proficient in the use of Microsoft Office and Windows-based programs as well as retail math; Strong
merchandising, product, trend and analytical skills