Specialty Inventory Manager

Location

IL-Chicago

Classification

Full-Time

Job Summary
The Specialty Inventory Manager is responsible for determining the buying quantity, allocating and managing specialty inventory levels in each store across a wide array of assigned categories. This position is responsible for identifying the initial buy level in total and by store determined by analysis of store sales history and customer/store profiles and demographics. The Specialty Inventory Manager works in close partnership with the buying team, distribution centers and merchandise systems teams to ensure that each store has the correct inventory level to support its product display and sales needs. At the same time, they make sure overall inventory needs to achieve sell through goals are managed, requiring the Specialty Inventory Manager to balance the competing priorities of sales and sell through. The Specialty Inventory Manager must develop strategies to manage assigned products throughout their life cycle, from initial introduction to exiting the store or moving product to Last Chance. This role requires the ability to consistently deliver business results by demonstrating quick decision making through collaborative efforts.

This job will be based out of our Chicago Wicker Park office.

What You Do

• Work closely with buyers and visual merchandisers to identify appropriate presets for each product purchased.
• Meet deadlines set by the Specialty Commercial Calendar to ensure timely delivery of product.
• Present inventory buy and allocation strategy to larger Specialty team when appropriate.
• Work with buyers on key items to determine quantities or adjustments needed to presets based on marketing, publicity and commercial calendar plans.
• Work with Visual Merchandising team to identify appropriate display quantities for furniture and fixtures.
• Effectively utilize inventory management systems to execute allocation strategies.
• Partner with the Distribution Center when appropriate to ensure inventory is flowing to stores timely and efficiently.
• Assist in managing the production process for any applicable products by ordering components, planning production quantities and allocation of finished goods.
• Analyze ongoing sales trends and postmortem findings to take appropriate actions to ensure the optimal inventory levels are maintained in each store throughout the product lifecycle.
• Replenish inventory to stores to minimize markdowns and/or maximize margin and sales.
• Use tools to reorder quantities of products based on their replenishment strategy and rank to maintain positive DC in stock position.
• Make recommendations to buyers for expansion and contraction of existing products/programs and promotions based on store profiles and store sales data.
• Identify sales trends or store profile changes for core products/programs and make store/item combination change recommendations when opening new stores or assisting in store renovations.
• Report analytics and identify actions needed to support margin, sales and sell through of product.

Knowledge & Experience

• High understanding of the specialty business and familiarity with categories and sales trends.
• Must be flexible enough to identify and interpret changing trends, convert those findings into buying strategies, effectively communicate proposed strategy changes to cross-functional team members and drive the business.
• Must be collaborative while balancing the confidence to remain steadfast on decisions as needed.
• Listens attentively and is receptive to other perspectives, incorporating this feedback in decision making.
• Ability to adapt well to changes in direction and priority in a fast-paced and deadline-oriented environment.
• Works consistently and productively, showing strong concentration and discipline.
• Proven ability to communicate effectively with partners, follow up and create a collaborative work environment.
• Is positive, self-motivated and proactive.
• Have a thorough knowledge and understanding of retail math – must be a "numbers" person.
• Experienced in Microsoft Office suite and familiarity with internal merchandising, inventory and reporting tools a plus (including Business Intelligence, Corporate Reporting Center, IMM, IM2, 1010 data, Data Warehouse, other analytical tools).
• Bachelor's degree or equivalent experience with at least 3 years of experience in retail analysis.
• Strong analytical skills. Ability to think critically and communicate complex thoughts and/or ideas in clear and concise manner. (Moved this to Position Requirements).
• Works collaboratively with cross functional partners.