Virtual Merchandise Forecasting Specialist

Location: Remote
Annual Salary: USD 70,000

Position Overview:

We seek a highly skilled Virtual Merchandise Forecasting Specialist to join our dynamic team. This remote role requires a strategic thinker with expertise in forecasting and inventory management within a virtual merchandising environment. The successful candidate will leverage data-driven insights to optimize inventory levels, enhance product availability, and support overall business objectives. This position offers an exciting opportunity to shape merchandise strategies and drive growth in a flexible, remote work setting.

Key Responsibilities:

1. Forecasting and Planning:
   • Develop and maintain accurate merchandise forecasts based on historical sales data, market trends, and seasonal variations.
   • Utilize advanced forecasting tools and methodologies to predict demand and adjust inventory levels accordingly.
   • Collaborate with cross-functional teams, including marketing, sales, and product management, to align forecasts with business goals and promotional activities.
2. Data Analysis and Reporting:
   • Analyze sales patterns, customer behavior, and market conditions to inform forecasting and inventory decisions.
   • Created and presented detailed reports on forecast accuracy, inventory turnover, and sales performance.
   • Identify and address discrepancies between forecasted and actual sales, implementing corrective actions as needed.
3. Inventory Management:
   • Monitor inventory levels and coordinate with supply chain partners to ensure optimal stock levels and reduce stockouts or overstock situations.
   • Develop inventory replenishment, markdowns, and clearance strategies to maximize profitability and minimize excess inventory.
   • Evaluate and recommend inventory policy and procedure adjustments to improve efficiency and effectiveness.
4. Strategy Development:
   • Contribute to developing merchandise strategies and business plans, incorporating forecasting insights and market analysis.
   • Based on forecasted data and market trends, provide recommendations for product assortment, pricing strategies, and promotional initiatives.
   • Stay informed about industry trends and competitor activities to anticipate potential impacts on merchandise performance.
5. System and Tool Management:
   • Utilize forecasting software and tools to generate and refine forecasts, ensuring data accuracy and system efficiency.
   • Continuously evaluate and enhance forecasting processes, incorporating new technologies and best practices.
   • Provide training and support to team members on forecasting tools and methodologies as needed.
6. Collaboration and Communication:
   • Work closely with internal stakeholders to understand their needs and incorporate their input into forecasting models and strategies.
   • Communicate forecasting insights and recommendations effectively to senior management and other key decision-makers.
   • Foster strong relationships with external partners, including vendors and suppliers, to support accurate forecasting and inventory management.

Qualifications:

• Bachelor’s degree in Business, Supply Chain Management, Data Analytics, or a related field; advanced degree or professional certification is a plus.
• Minimum of 3-5 years of experience in merchandise forecasting, inventory management, or a related role.
• Proficiency in forecasting tools, data analysis software, and inventory management systems.
• Strong analytical skills with the ability to interpret complex data and make data-driven decisions.
• Excellent communication skills, both written and verbal, with the ability to present findings and recommendations to various stakeholders.
• Proven ability to work independently and manage multiple priorities in a remote work environment.
• Detail-oriented with a strong focus on accuracy and continuous improvement.

Preferred Skills:

• Experience in a remote work environment and familiarity with remote collaboration tools.
• Knowledge of industry trends and emerging technologies in merchandise forecasting and inventory management.
• Strong problem-solving skills and the ability to adapt to changing market conditions and business needs.

Benefits:

• Competitive salary and performance-based incentives.
• Flexible work hours and remote work options.
• Comprehensive health, dental, and vision insurance plans.
• Generous paid time off and holiday benefits.
• Professional development opportunities and career growth.

Application Process:

To apply for the Virtual Merchandise Forecasting Specialist position, please submit your resume and a cover letter detailing your relevant experience and qualifications. We look forward to reviewing your application and discussing how you can contribute to our team’s success.