- Develop and execute buying strategies designed to meet or exceed sales, margin and inventory turnover goals
- Monitor performance compared to plan and identify trends and opportunities
- Manage all aspects of the merchandise offering including product selection, vendor negotiations, promotional planning, store placement and distribution.
- Develop customer-centric strategic and detailed assortment plans and ensure that merchandise selection matches customer demands and expectations
- Responsible for brand management, product development and managing the open market.
- Integrate brand (including private label), sourcing, marketing, tech services and retail supply chain functions into the merchandising process to make business decisions.
- Provide strategic input to the Merchandise Planners to develop a merchandise plan and complete accurate forecasts by evaluating all relevant financial information, including current trends and anticipated market changes.
- Provide input and support to the planning organization in the development of merchandise plans, seasonal plans, assortment plans, key item strategies, ladder plans and others
- Work collaboratively with Planners and Pricing to execute markdown management in accordance with Family Dollar policy
- Ensure merchandise mix provides an appropriate balance between quality, quantity, style, size and price consistent with the brand character of the company
- Develop and present FASTER strategies and assortment reviews to senior management
- Partner with the global sourcing team to identify and capitalize upon direct sourcing opportunities, as well as quality control team to ensure the quality of products
- Establish a collaborative relationship with the allocation team to ensure the proper balance and availability of merchandise.
- Communicate and work with replenishment to achieve stated goals related to service levels and inventory turn
- Partner with marketing team to design marketing and promotional plans that maximize incremental sales, gross margin dollars and coop. Ensure accuracy of promotional information including pricing and signage
- Develop and maintain strong relationships with vendor partners and consistently operate within Family Dollar Stores standards, policies and Codes of Ethics
- Manage individual vendor performance and vendor mix to maximize profitability and achieve overall financial objectives
- Initiate all system input required to initiate new items and vendors and ensure necessary changes are made to maintain the accuracy of essential information
- Coach and develop Associate and Assistant Buyers, as well as Merchandise Assistants, to ensure growth and readiness for next level position
- Attend relevant trade shows, markets and events to identify market trends, gather product information, select merchandise and establish business relationships with viable vendors
- Shop local Family Dollar stores, as well as other comparative retail stores, on a regular basis to identify new trends and opportunities, evaluate merchandise mix, evaluate competition, and translate findings into executable product plans
- Responsible for work-related travel (approximately 10 - 20% of the time)
- Other job-related duties as assigned.
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