Head of Merchandise Planning

Enda Group; Nilai; On-site; USD 60,000 - 100,000; Full time

Job summary

A leading company in the retail sector is seeking a Head of Merchandise Planning to develop strategies that enhance sales and profitability. This role involves collaboration across various teams to ensure effective inventory and product management. The ideal candidate should possess strong leadership and analytical skills along with substantial experience in merchandise planning.

Qualifications

• At least 5 years of experience in merchandise planning or retail management.
• Proven experience in developing and executing merchandising strategies across multiple categories.
• Proficiency in assortment planning, inventory management, and pricing strategies.

Responsibilities

• Develop comprehensive merchandising strategies to drive sales growth and optimize product assortments.
• Collaborate with teams to ensure product lifecycle and pricing strategies align with financial goals.
• Analyze financial data to adjust and refine merchandising strategies.

Skills

Analytical skills

Data interpretation

Leadership

Communication

Education

Bachelor’s Degree in Merchandising or Business Management

Job description

Role Purpose :

The Head of Merchandise Planning is responsible for developing and implementing merchandise strategies that drive sales growth, optimize product assortments, and improve profitability. The role also involves collaboration with the buying and operations teams to ensure that product lifecycle, inventory levels, and pricing strategies align with the company’s overall financial and operational goals.

Key Responsibilities :

Financial and Sales Strategy

• Develop comprehensive merchandising strategies that align with the company's sales and profitability targets.
• Implement strategies that drive top-line sales growth across all product categories.
• Regularly analyze financial data (sales, margins, profits) to adjust and refine strategies.

Assortment Planning and Product Lifecycle Management

• Optimize product assortment to meet diverse customer preferences by tailoring offerings to different market segments and regions.
• Plan product lifecycle from introduction to phase-out, ensuring correct product mix at all times.
• Ensure a balanced assortment that prevents both overstock and stock-outs.

Pricing & Markdown Strategy

• Implement tiered pricing strategies (Good/Better/Best) that align with customer segments to maximize profit margins.
• Plan and execute markdowns and clearance sales to efficiently manage older inventory while maintaining profitability.
• Regularly monitor competitors’ pricing and adjust strategies accordingly.

Inventory Management and Turnover Optimization

• Manage and monitor inventory levels to ensure optimal stock across all sales channels.
• Set turnover targets and ensure inventory flows through the system efficiently.
• Balance high turnover products with slow movers through accurate forecasting and stock planning.
• Identify and rectify stock imbalances early.

Collaborative Planning with Buying & Retail Teams

• Work closely with the buying team to align on product acquisition, ensuring timely stock inflows based on sales forecasts.
• Regularly communicate with retail teams to adjust stock based on store performance, trends, and customer demand.
• Collaborate with logistics to ensure smooth supply chain operations.

Seasonal Budgets & Open-to-Buy (OTB) Management

• Develop seasonal budgets and Open-to-Buy plans, ensuring that all product categories have the right financial support for planned sales.
• Monitor OTB plans regularly and adjust spending according to sales trends and performance.
• Provide financial insights and analysis to guide buying decisions for each season.

Data-Driven Decision Making

• Leverage data analytics to inform and guide merchandising decisions, focusing on sales trends, customer insights, and market research.
• Use advanced analytics tools to forecast demand, optimize product mix, and manage inventory allocation across stores.
• Constantly assess sales data to identify growth opportunities.

Team Development and Leadership

• Mentor and develop the merchandising team, ensuring they are equipped with the skills and knowledge needed for high performance.
• Foster a collaborative and growth-focused culture within the team.
• Ensure team members are trained in key areas like sales analysis, inventory management, and strategic planning.

Cross-Department Collaboration

• Facilitate regular meetings with Retail department, franchisees, and other departments to ensure that merchandising strategies are implemented consistently across all locations.
• Align with marketing and sales teams to ensure that promotions, advertising, and product launches are well supported by the merchandising plan.

Competitive Benchmarking

• Regularly conduct competitive analysis to understand pricing, product range, and trends in the market.
• Adjust product mix, pricing, and markdowns to remain competitive while protecting margins.
• Ensure the product line is always up-to-date and in line with customer preferences and competitor activities.

Forecasting & Demand Planning

• Use forecasting tools and sales data to predict demand for key products and ensure the right stock levels are maintained.
• Adjust forecasts based on market trends, store performance, and customer feedback.
• Ensure that demand planning accounts for seasonality, regional differences, and promotional activities.

Ideal Candidate :

• Bachelor’s Degree in Merchandising, Business Management, or related field.
• At least 5 years of experience in merchandise planning or retail management. Proven experience in developing and executing merchandising strategies across multiple categories.
• Strong analytical and data interpretation skills.
• Proficiency in assortment planning, inventory management, and pricing strategies.
• Excellent leadership and communication skills, with a focus on team development.
• Ability to work cross-functionally and drive collaboration across departments.