Key Tasks & Responsibilities:
- Analyze market trends and customer preferences to identify potential product opportunities and make informed buying decisions.
- Develop and maintain relationships with suppliers, negotiating contracts to ensure competitive pricing, quality products, and timely delivery.
- Manage the product lifecycle, from sourcing to discontinuation, ensuring a balanced product mix that aligns with company strategy and sales targets.
- Collaborate with cross-functional teams, including merchandising, marketing, and sales, to develop seasonal product assortments and promotional plans.
- Monitor sales performance and adjust buying strategies accordingly to maximize profitability and inventory turnover.
- Attend trade shows and conduct market research to stay updated on industry innovations and emerging trends.
- Forecast demand, create purchase orders, and track inventory levels to minimize stock outs and overstock situations.
- Participate in the resolution of customer complaints related to product quality or availability.