Senior Buyer

4 weeks ago

Dubai, Dubai, United Arab Emirates MAJID AL FUTTAIM Full time
Roles and responsibilities

The Senior Buyer is responsible for sourcing and buying at optimum cost, quality and availability, product ranges that meet customer needs thereby maximizing profits and providing a commercially viable range of merchandise for MAF Lifestyle business. The Senior Buyer will be responsible for supporting the General Manager – Planning & Merchandising in defining and presenting short and long-term strategic approaches, future growth opportunities and areas of risk for the business with regards to brand assortment, ranging, products, positioning inventory and margins.
ROLE PROFILE

  • Formulate a suitable buying strategy, approach and plan in line with Brand and MAF Lifestyle guidelines.
  • Direct and manage various functional aspects of vendor sourcing/ development, contract negotiation, purchasing, liaising with supply chain and warehouse to ensure optimum efficiency & performance of the function.
  • Ensure that commercial, yet profitable product ranges are developed and bought in order to maximize profit and sales.
  • Ensure the OTB is built up by store, category and subcategory.
  • Manage and control, in conjunction with the GM, all aspects of stock to achieve reduced lost sales, improved buying and balanced product mix through careful and rigorous buying.
  • Contribute to development of annual business plans, associated budgets and buying strategies, monitor performance against this, initiating corrective action where necessary to ensure operations are conducted within the agreed financial parameters and targets are achieved.
  • Responsible for achieving set financial targets in relation to all buying activities, OTB, margins, sell thru and markdowns.
  • Negotiate product pricing, cost of shipment and payment terms, intake margin and terms with local vendors, taking into consideration business and cost effectiveness as the main consideration.
  • Maintain profitable relationships with existing suppliers and monitor adherence to all contractual terms.
  • Stay abreast of customer trends, demographic shifts and other influences to ensure buying decisions closely relate to customer preferences contributing to the customer experience.
  • Conduct fashion trends and product training of new launches / seasons to the store teams as and when required.

Requirements

  • 4-5 years in a senior Merchandising role
  • Experience in a retail background is mandatory
  • A Bachelors' Degree, preferably in Fashion, Marketing or related field
  • Qualification in Retail Management / Purchasing / Sales or related subjects
Desired candidate profile

1. Strategic Sourcing and Procurement

  • Supplier Selection: Identifying and selecting suppliers that offer the best combination of price, quality, and delivery performance.
  • Cost Analysis: Analyzing pricing, contracts, and market trends to ensure cost-effective purchasing decisions.
  • Negotiation Skills: Negotiating with suppliers to secure the best terms, prices, and delivery schedules.
  • Risk Management: Assessing potential risks associated with suppliers, including financial stability, delivery capabilities, and quality control.

2. Vendor and Supplier Relationship Management

  • Supplier Evaluation: Regularly evaluating suppliers based on performance metrics, quality, reliability, and cost-effectiveness.
  • Building Relationships: Developing strong, collaborative relationships with key suppliers to foster long-term partnerships.
  • Conflict Resolution: Handling disputes or issues with suppliers efficiently and professionally to maintain smooth business operations.

3. Market Knowledge and Industry Trends

  • Market Research: Staying informed on market conditions, industry trends, and emerging technologies to make informed buying decisions.
  • Competitive Analysis: Monitoring competitors' purchasing practices and strategies to ensure the company maintains a competitive edge.
  • Global Sourcing: Understanding global supply chains and being able to source products from various regions to optimize costs and availability.

4. Contract Management

  • Contract Negotiation: Creating, reviewing, and negotiating contracts with suppliers to ensure favorable terms for the organization.
  • Legal and Compliance Awareness: Understanding the legal implications of contracts and ensuring compliance with relevant regulations.
  • Terms and Conditions: Ensuring that purchase agreements contain clear terms related to delivery, warranties, payment schedules, and penalties for non-compliance.

5. Inventory and Supply Chain Management

  • Inventory Control: Ensuring that stock levels are maintained at optimal levels to meet production needs without overstocking.
  • Supply Chain Coordination: Coordinating with logistics, warehouse, and production teams to ensure timely delivery and supply of goods.
  • Demand Forecasting: Analyzing historical data and market trends to forecast future demand and adjust purchasing strategies accordingly.

6. Data-Driven Decision Making

  • Analytics and Reporting: Using data analytics tools to track purchasing trends, supplier performance, and cost-saving opportunities.
  • Budget Management: Monitoring procurement budgets and ensuring that purchases remain within allocated financial limits.
  • Cost Reduction: Identifying opportunities to reduce procurement costs while maintaining product quality and supplier reliability.
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