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Buying executive

4 weeks ago

Kuwait City, Al Asimah 7d Full time
Buying is a scientific approach to building customer perception and satisfaction ensuring products and brand within the category drive profits. It seeks to leverage the relationships between brands and retailers, creating a collaborative approach to better meet the needs of the shopper. A Buyer must be a category expert who understands that the tripartite relationship between the category/brand, the seller, and the shopper is the foundation for a sustainable competitive strategy. The Buyer collaborates with the visual merchandiser in designing store planograms and category hierarchy. They target consumers, plan the merchandise, implement selling strategy, and evaluate results. They are responsible for the end-to-end processes of driving the sales, profits, and curating a winning merchandise portfolio, collaborating with external and internal hosts and stakeholders in the sourcing, buying process, forecasting trends and inventory demands, and working closely with cross-functional teams to deliver winning results. Key Objectives Take full ownership of the buying department by driving a balanced business scorecard that delivers on critical performance indicators, including revenue growth, margin optimization, efficient inventory management, and strategic merchandise procurement, ensuring alignment with overarching business goals. Develop and execute joint business plans with vendors, while measuring and analyzing internal and external performance metrics and KPIs. Provide strategic direction, leadership, and oversight to inspire and manage the various functions and agencies that support the brand's growth and operations. Stay ahead of key market trends, including customer behavior, category dynamics, and competitive landscape, to inform strategic decision-making. Collaborate with cross-functional teams to develop and implement a data-driven, customer-focused strategy for retail planograms, pricing, and selling plans across both retail and e-commerce channels. Execute tasks assigned by the direct manager with diligence and professionalism, ensuring alignment with the company's interests and objectives. Qualifications: Bachelor's degree preferable in Business or equivalent qualification. Experience: Minimum 3 years of consumer electronics experience. Possess a clear understanding of: Consumer electronic business, consumer habits, and industry developments. Budgeting, merchandise buying plans, demand planning, driving sales and profit, and cost control. Category Development and positioning, building rapport with brand host and other functionaries, contributing to marketing and advertising plans. Directing, supervising, and controlling various activities and functionality associated with the category/brand. Skills: Analytical Skills - Quantitative reasoning through a data-driven approach, ability to measure, justify, and refine category/branding efforts based on data. Relationship management - Build and maintain rapport with Vendors, Suppliers, and your Team. Result-oriented, focused on setting and reaching goals. Effective Communicator - Keep everyone aligned behind the category/brand and ensure their agenda matches up to your category/brand strategies. Setup and Monitor Balanced Business Scorecards. Critical thinker and problem-solving skills. Other Skills: Team worker, will need to work with colleagues and coordinate with multiple departments. Knowledge in tech-related goods. Prioritization and Time management. Ability to work under pressure. Responsibilities: Identify customer preferences and forecast consumer trends. Evaluate supplier options according to prices, quality, etc., and determine the best choices. Discover and purchase new products & brands and check the quality and popularity of those already on our shelves. Negotiate terms of agreements to achieve the best deal for our company. Ensure the timely delivery of products and compliance with the contracts of purchase. Monitor stock levels and make plans for buying within budget. Create reports on sales and adjust company strategies accordingly. Maintain the category of mobile & accessories / smart wearables / smart gadgets & car accessories & charging & cable. Develop Category Strategy to achieve Sales/Profitability Target and maximize market share. Devise long-term development strategies for product categories. Drive promotion strategy through direct team & support functions to ensure business objectives are met. Develop exit strategies for unsuccessful products. Follow & analyze market trends to ensure competitiveness in assortment and pricing. Determine the positioning of a product category to maximize visibility.
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