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Job Title: Buyer, Jewelry
Job Location: NY: New York
Pay Rate: Open
Job Length: full time
Start Date: 2008-09-01

Company Name: Saks Fifth Avenue
Contact: HR
Phone: email only please
Fax: email only please

Description: Buyer, Jewelry Job Code: 1698

Division: Saks Fifth Ave Location: New York, NY US Travel Involved: None/Not Specified Job Type: Full Time Job Level: Experienced Education: BA, 4 year degree Category: Buying Compensation: Not Specified Position Summary: Under direction from the Divisional Merchandise Manager, the Buyer is responsible for achieving sales and profit objectives for a merchandise category or categories. This accountability includes the development and successful implementation of buying strategies, inventory management; merchandise selection, assortment and promotional planning, developing pricing strategies and marketing plans. Additionally, the Buyer is also responsible for vendor relations, cost negotiation, and product development. The Buyer is also responsible for the development and training of the buying team, including Associate and/or Assistant Buyers and/or Merchandise Analyst. Key Responsibilities - Maximizes inventory productivity through management of the following: Merchandising- Executes vendor selection and develops vendor and internal organizational partnerships. Monitors industry trends, evaluates competition, and attends major markets. Executes 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. Ensures the dissemination of product knowledge to the call center and by detailed product copy on line. Supervises the Best / Worst Seller Review. Critiques sales unit performance analysis for opportunities. Coordinates and conducts the Merchandise Hindsight. Purchasing, Allocation, Replenishment, and Assortment Planning- 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. Executes and develops departmental strategies to achieve global replenishment targets. Prepares information to support micro-merchandising strategies, and reviews with team. Provides information for, reviews, and approves the assortment matrix and buy plan. Manages returns to vendors as negotiated and necessary. Reviews identified distribution and vendor logistics opportunities. Establishes replenishment strategies and reserves appropriate funding. Identifies candidate items for replenishment. Promotes and critiques replenishment assortment, financial plans and open to buy with Replenishment Analyst. Communicates with vendors with regard to replenishment fill rates. Financial Planning- Manages the development of the vendor matrix. Approves departmental sales and average stock targets. Executes the flow of the departmental topside plans by month. Participates in the development, review of and approves departmental topside financial plans.Participates in ensuring adherence to the companys planning calendar. Furnishes information for and participates in the financial Business Review. Open-to-Buy Monitoring- Executes the development and maintenance of the PO checkbook. Manages the markdown projection process and the projection of vendor allowance. Partners with the Saks buying and planning organizations to manage 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. Evaluates vendor to store receipt flows, and actual to planned receipts. Executes the monthly stock ledger review, and directs the purchase journal review process. Manages the monitoring of inventory productivity, and analysis of vendor profitability. Pricing and Marketing- Plans and approves all advertising and marketing. Establishes and approves pricing strategy. Evaluates target markup analysis and guidelines and applies appropriately to buying decisions. Recommends and approves item price changes, and ensures that prices changes are input in a timely manner. Evaluates financial impact of price changes. Reviews and provides information for the timely response to store visit notes. Monitors style advertising effectiveness. Partners with vendors and merchandise managers to ensure proper on line presentation. People Development- Manages organization and staffing, as well as skills training and development. Coordinates and prioritizes the teams activities, and develops and fosters a teamwork atmosphere. Executes and participates in the formal performance review. Participates in fostering job satisfaction and positivemorale. Requirements Requirements University or College degree or commensurate retail experience Minimum 5 years experience in a buying capacity, with multi brand or internet experience preferred. Strong business and financial analysis skills. Strong retail math acumen, including elements of markup, margin planning, open to buy, inventory productivity measures (WOS, T/O, GMROI) Proven ability to create product assortments that meet customer needs Ability to build / maintain strong vendor partnerships / has existing vendor relationships. Proven ability to create and execute a sound business strategy. Demonstrated managerial and leadership skills. Strong communication and negotiation skills. Willingness to travel, including overseas.

Competencies

Action Oriented

Dealing with Ambiguity

Negotiating

Business Acumen

Integrity and Trust

Composure

CustomerFocus

Drivefor Results

Perspective

Political Savvy

Decision Quality

Problem Solving

Organizing

Please refer to Job code saks-1698 when responding to this ad.

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