Associate Buyer - Fashion Jewelry
Saks Fifth Avenue 647 reviews - New York, NY

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The Associate Buyer is responsible for achieving sales and profit objectives for a specific merchandise category or categories, under the direction of the Buyer. This responsibility includes the development and successful implementation of buying strategies, merchandise programs and marketing plans as well as incorporating competitive intelligences based on customer insights and business analysis. They will purchase and negotiate merchandise while partnering with Merchandise Planning to maximize business opportunities. The Associate Buyer is also responsible for assisting the Buyer in several capacities, and for aiding in the development and training of the Assistant Buyer and Merchandise Assistant.

Merchandising :
Manages vendor selection, negotiates vendor allowance, and develops vendor partnerships. Monitors industry trends, evaluates competition, and attends major markets. Develops the merchandise strategy, including product selection and product and key item development. Conducts line reviews / style outs for management and staff. Ensures that new items are set up properly in the item database. Provides product knowledge to store associates. Participates in and provides information for the Best/Worst Seller Review. Develops and reviews sales unit performance analysis for opportunities. Assists in conducting the Merchandise Hindsight. Participates in store visits as feasible. Furnishes information and assists in floor space strategies and opportunities.

Purchasing, Allocation, and Replenishment:
Assists in analyzing class performance, planned class penetration, and average retail by class. Manages the timely placement and maintenance of purchase orders. Ensures assortment planning best practices and allocation strategies. Provides information to support micro-merchandising strategies, and reviews with team. Provides information for, reviews, and approves the assortment matrix and buy plan. Monitors and provides feedback for case pack and order flow recommendations. Participates in weekly allocation strategy sessions. Reviews and approves store volume groups, allocation tables, and size grids. Conducts returns to vendors as negotiated and necessary. Manages and provides information for the identification of distribution and vendor logistics opportunities. Provides information and assists in the spacing strategies for the stores (fixture capacities and square footage). Inspects and resolve issues with data integrity (reporting systems). Executes and aids in the development of departmental strategies to achieve global replenishment targets. Manages and assists in establishing replenishment strategies and reserves appropriate funding. Manages and assists in identifying items as replenishment candidates. Develops and reassesses replenishment assortment, financial plans and open to buy with Replenishment Analyst. Communicates with vendors with regard to replenishment fill rates.

Financial Planning:
Provides information for the vendor / store matrix, and assists in coordinating store input for the matrix. Reviews departmental sales and average stock targets. Manages and assists in flowing the departmental topside plans by month. Participates in the review of and approves departmental topside financial plans. Critiques departmental store sales plans. Participates in ensuring adherence to the company's planning calendar. Provides information for and participates in the Business Review.

Open-to-Buy Monitoring:
Executes the development and maintenance of the open-to buy checkbook. Manages the markdown projection process and manages the projection of vendor allowance. Manages the negotiation and collection of vendor allowance. Develops and executes aged inventory exit strategies. Manages the bi-monthly forecasting of sales and inventories through the OTB review process. Monitors vendor to store receipt flows, and actual to planned receipts. Manages the monthly stock ledger review, and the purchase journal review process. Monitors inventory productivity and analyzes vendor profitability. Monitors vendor received not ordered' compliance.

Pricing and Marketing:
Manages all advertising and marketing. Partners to establish a pricing strategy. Assists in - evaluating target markup analysis and guidelines and applies appropriately to buying decisions; recommending and approving item price changes; ensuring that price changes are input in a timely manner; evaluating financial impact of price changes. Reviews and provides information for the timely response to store visit notes. Manages ad in-stock on promotional items, and ensures the communication of in-stock issues to stores. Monitors style advertising effectiveness. Oversees appropriate product ticketing and in-store signage. Supports visual team in providing store presentation guidance.

People Development:
Participates in skills training and development. Participates in the team's activities, and helps to support and develop a teamwork atmosphere. Assists in the training, development and support of the assistant buyers.

Job Requirements:
University or College degree or commensurate retail experience.
Strong business and financial analysis skills; Ability to create and execute a sound business strategy. Strong retail math acumen, including elements of markup, margin planning, open to buy, inventory productivity measures (WOS, T/O, GMROI), Assortment Planning. Strong communication and negotiation skills. Ability to develop strong relationships across all levels of the organization. Ability to build / maintain strong Vendor partnerships. Willingness to travel, including overseas.
3-4 years experience in buying office.

About this company
647 reviews
Saks Fifth Avenue is a member of the Saks Incorporated (NYSE:SKS) group and operates 62 stores, led by its landmark flagship on New York's...