JOB SUMMARY:
The Retail Buyer will be responsible for developing assortment plans and forecasting product demands for each assigned location, establishing and managing key vendor relationships including negotiating and sourcing necessary products, ensuring timely and effective deliveries of merchandise, actively managing inventory levels, and conducting cost analyses. This position requires frequent travel to our locations in Canton, Hamden, and future stores in Connecticut.
JOB DUTIES:
Core duties and responsibilities include the following. Other duties may be assigned.
- Assist Director of Purchasing with developing assortment architecture for retail stores that includes developing the percentage of C3I products and 3rd party products to ensure customers have desired quantities in overall product selection.
- Responsible for planning, selecting, and purchasing internal and 3rd party products and merchandise for assigned retail locations in Canton, Hamden, and future Connecticut locations.
- Create and maintain effective partnerships with key vendors, effectively negotiating terms, pricing, and vendor agreements; partner with applicable internal departments to develop and execute terms.
- Maintain purchase orders and tracking information in designated system ensuring that orders are received, in full, at designated locations and that Accounting has necessary information to complete vendor payment.
- Collaborate with cross-functional partners on incoming product, product introductions and pricing.
- Work closely with Retail Leaders, Merchandise Planning and Finance on sales and inventory reporting to ensure stores have adequate supply on hand in key categories and products.
- Manage monthly Open-to-Buy for all 3rd party assortments; report data to company leadership team.
- Collaborate with Director of Purchasing and Executive team members to create pricing strategy that is competitive with the competition, and yields determined margins.
- Work closely with fellow Buyers as well as Merchandise Planning and Finance to develop and maintain a robust and efficient sales reporting and product performance metrics down to the SKU as needed.
- Collaborate with internal teams on creating seasonally appropriate lifestyle accessories and apparel.
- Maintain pulse on upcoming trends, and new vendors; establish and maintain relationships with new vendors.
- Perform daily duties as they relate to 5 Rights of Buying: Right Quality, Right Quantity, Right Price, Right Placement, Right Timing
SUPERVISORY RESPONSIBILITIES:
None
JOB REQUIREMENTS:
- Bachelor’s degree in Business, Marketing, Advertising, Retail Management or related field, 5+ years’ experience or equivalent
- Experience with ERP and/or Inventory Management systems; advanced Microsoft Excel skills required.
- Proven ability to establish strong credibility and build relationships, operate in an environment of ambiguity, and maintain strict confidentiality.
- Working knowledge about the cannabis industry, customer requests, and upcoming trends and vendors.
- Highly analytical, capable of turning raw data into information and insights.
- Strong financial and analytical skills, prior experience developing and managing a budget.
- Excellent organizational skills, ability to develop and implement operational best practices.
- Good judgment in a fast-moving environment with the ability to prioritize and execute multiple tasks.
- Must possess excellent business judgment, strong written and oral communication skills, and a practical, common-sense approach to getting things done.
- Regular travel to retail stores located in Connecticut, and occasional travel to other states required.
- Must be at least 21 years of age and able to pass a background check.
- Must be able to obtain & maintain required state licenses based on work location.
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Last updated on Sep 12, 2024