5 C Krishniah Chetty & Sons Jobs

Purpose of the Role:

The Senior Merchandising Head is responsible for leading inventory planning, procurement, sales performance evaluation, and vendor management. The role requires strong market analysis, strategic planning, and collaboration with cross-functional teams to optimize inventory levels and enhance sales.

Key Responsibilities:

I. Inventory Planning and Merchandising

• Strategically manage and optimize inventory levels to align with customer demand while minimizing costs and risks.
• Analyze historical sales data, market trends, and customer behavior to make informed decisions.
• Collaborate with product managers and buyers to curate product assortments aligned with market preferences and brand positioning.

II. Stock Preparation and Forecasting

• Prepare reports on daily, weekly, and monthly sales trends to forecast demand for jewelry and articles.
• Determine stock requirements based on sales data and market trends.

III. Inventory Procurement

• Procure inventory based on sales performance and recommended stock levels.
• Implement a replenishment program for stock orders and purchase requisitions.
• Work closely with the design team for new stock order requirements.
• Oversee component procurement in coordination with the Diamond & Gemstone department.
• Assign vendors and approve purchase requisitions for stock and sales orders.
• Conduct weekly store visits for stock evaluation and feedback collection.

IV. Sales Performance Evaluation

• Assess vendor sales performance and recommend re-orders.
• Generate vendor performance reports based on sales data.
• Identify high-performing products and optimize stock allocation.

V. Ageing Analysis

• Conduct periodic ageing analysis of inventory across defined time periods (0-90 days, 91-180 days, etc.).
• Recommend actions such as vendor returns, unset/melting processes, and clearance strategies based on ageing analysis.

VI. Vendor Management

• Select and onboard new vendors based on product quality, cost, and delivery efficiency.
• Finalize labor charges and gemstone costs in collaboration with the BOD.
• Establish vendor agreements and ensure compliance with procurement policies.

VII. Communication and Collaboration

• Effectively communicate inventory updates, insights, and recommendations to senior management.
• Provide actionable inputs to improve sales and stock efficiency.
• Collaborate with internal teams, including design, production, and sales, to ensure seamless inventory flow.

VIII. Documentation and Compliance

• Maintain accurate and up-to-date documentation of inventory procedures and policies.
• Ensure proper record-keeping for procurement and vendor agreements.

IX. Data Management and Reporting

• Manage and maintain inventory data within management systems.
• Generate and analyze periodic reports to support strategic decision-making.

X. Periodic Review and Stock Rotation

• Conduct regular stock reviews and initiate inter-store inventory swaps as needed.
• Identify slow-moving inventory and implement corrective actions.

XI. Market Research and Trend Analysis

• Stay updated on jewelry market trends and evolving customer preferences.
• Nominate and lead inventory teams to visit trade fairs, exhibitions, and awareness programs.
• Leverage market insights to enhance stock selection and design collaborations.