Key Responsibilities
• Plan and implement a comprehensive product strategy to maintain a high proportion of Active SKUs.
• Oversee the structure and market positioning of collections and sub-collections to meet market demands.
• Plan and execute the launch of new products and collections, ensuring alignment with market trends and customer preferences.
• Monitor and review product performance data to inform strategic decisions and actions.
• Collaborate with suppliers to develop new products that align with business objectives.
Procurement Management
• Manage procurement processes to ensure product availability across all sales channels.
• Work closely with merchandising teams to determine reorder quantities and ensure optimal stock levels.
• Issue and manage purchase orders (P/O) for new and repeat SKUs.
• Monitor supplier performance to ensure timely delivery and product quality.
Pricing and Cost Management
• Monitor gold prices and currency exchange rates to assess impacts on product costs.
• Conduct regular price reviews to adjust retail pricing while maintaining gross profit margins according to the policy.
• Provide pricing recommendations based on market positioning and competitive analysis.
Data Analysis and Insights
• Analyze overall product performance, including Active and Inactive SKU ratios, sales trends, and profitability.
• Provide actionable insights to the marketing and sales teams to optimize promotions and product strategies.
• Identify slow-moving products and collaborate with marketing to develop clearance strategies.
Cross-Functional Collaboration
• Work closely with merchandising to align stock planning and ensure timely procurement.
• Partner with marketing to support campaigns and promotions with product data and insights.
• Support sales teams with product training and key selling points to enhance customer interactions.
Key Performance Indicators (KPIs)
• Active SKU Ratio / Active SKU: Maintain a high percentage of Active SKUs in the product portfolio.
• Procurement Efficiency / Ensure timely and accurate purchase order management to maintain optimal stock levels.
• New Product Success Rate / Measure the contribution of new products to total sales within six months of launch.
• Gross Profit Margin (GP) / Maintain or improve the overall GP percentage across all products.
• Stock Turnover / Optimize inventory turnover to minimize excess stock.
• Pricing Accuracy / Ensure timely price adjustments based on cost fluctuations and market positioning.
• Collaboration Effectiveness / Track actionable insights provided to marketing and sales teams.
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