Buying Manager Sharaf Retail Dubai
Full time @Sharaf Retail posted 1 month ago in Retail Shortlist Email JobJob Detail
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Job ID 30320
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Career Level Senior
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Experience 5-9 Years
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Gender Male Female
Job Description
Buying Manager at Sharaf Retail plays a critical role in supporting business success. Candidate will be responsible for selecting, purchasing, and managing the right mix of products to maximize profitability and align with their brand’s vision and customer preferences. This role requires a strong understanding of market trends, excellent negotiation skills, and a passion for the fashion industry. This is a Senior level full time job. And salary can range between 15000-30000 AED/month.
Responsibilities of Buying Manager
- Develop and implement strategic buying plans that align with the company’s objectives.
- Stay informed about market trends, consumer preferences, and competitors to guide purchasing decisions.
- Create and manage merchandise assortments, considering seasonality, market trends, and brand identity.
- Conduct demand forecasting and inventory planning to optimize stock levels and ensure timely replenishment.
- Source, evaluate, and negotiate with suppliers, manufacturers, and vendors to secure optimal terms and contracts.
- Analyse sales and market data to identify trends, inform pricing strategies, and enhance product selection.
- Vendor and Supplier Management:
- Build and maintain strong relationships with suppliers and vendors locally and internationally.
- Negotiate pricing, terms, and delivery schedules to optimize profitability.
- Evaluate supplier performance and explore new sourcing opportunities.
- Inventory Management:
- Monitor inventory levels and ensure stock availability in line with forecasted demand.
- Manage markdowns, promotional pricing, and sell-through rates to minimize excess stock.
- Budgeting and Financial Management:
- Manage the department’s budget to meet financial goals and ensure adherence to cost constraints.
- Monitor financial performance, including sales margins, profitability, and product sell-through rates.
- Take a commercial perspective in decision-making to optimize the P&L.
- Collaboration and Communication:
- Work closely with marketing, sales, and operations teams to ensure cohesive product development, promotion, and sales strategies.
- Foster open communication channels between departments to connect buying with planning, logistics, and store operations.
- Support marketing campaigns with product insights and inventory planning to meet promotional demands.
- Team Leadership and Development:
- Mentor and lead a high-performing buying team, setting clear goals and performance expectations.
- Build team capabilities through training and development, encouraging career progression.
- Delegate responsibilities effectively to ensure operational excellence and alignment with departmental goals.
Process Improvement and Compliance
- Identify and implement process improvements to enhance buying efficiency and effectiveness.
- Ensure all procurement activities comply with company policies, procedures, and ethical standards.
- Maintain accurate, up-to-date records and prepare regular reports on buying activities and outcomes.
Requirements for Role of Buying Manager
- Bachelor’s degree in Fashion Merchandising, Business Administration, or a related field.
- 8+ years of experience as a Buyer in the fashion retail industry.
Skills And Knowledge Desired
- Strong knowledge of fashion trends, fabrics, consumer preferences, market dynamics and product categories
- Proven ability to negotiate and manage vendor relationships.
- Analytical skills with expertise in sales forecasting and data-driven decision-making.
- Proficiency in retail management software and tools.
- Excellent communication, organizational, and time-management skills.
- Ability to thrive in a fast-paced, dynamic environment.
- Proficiency in Microsoft Office Suite and data analysis tools.
- Ability to interpret complex data sets to drive insights and inform purchasing decisions.
- Competence in inventory management systems and demand forecasting methodologies.
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