Remote Assortment Planning Specialist
Location: Remote
Salary: USD 92,000 annually
Job Description:
As a Remote Assortment Planning Specialist, you will play a crucial role in the strategic planning and execution of product assortments. Your primary responsibility will be to ensure that the right products are available in the right quantities at the right time to meet customer demand and maximize sales opportunities. You will leverage data analytics, market trends, and sales forecasts to drive assortment decisions and optimize inventory levels.
Key Responsibilities:
- Assortment Strategy Development:
- Develop and implement assortment plans based on sales data, market trends, and customer insights.
- Collaborate with cross-functional teams, including merchandising, marketing, and supply chain, to align assortment strategies with overall business goals.
- Analyze historical sales data and market trends to identify opportunities for new product introductions and discontinue underperforming items.
- Data Analysis and Forecasting:
- Utilize advanced analytics tools and techniques to forecast demand and plan inventory levels.
- To evaluate assortment performance, monitor key performance indicators (KPIs) such as sales, inventory turnover, and gross margin.
- Conduct regular reviews of assortment performance and adjust plans to address market conditions or customer preference changes.
- Product Selection and Optimization:
- Select and recommend products for inclusion in the assortment based on data-driven insights and strategic priorities.
- Optimize product assortments to ensure a balanced mix of high-demand, high-margin, and seasonal items.
- Work closely with vendors and suppliers to ensure timely delivery of products and resolve any supply chain issues.
- Collaboration and Communication:
- Communicate assortment plans and recommendations to key stakeholders, including senior management and cross-functional teams.
- Collaborate with the marketing team to develop promotional strategies and campaigns that support assortment objectives.
- Participate in regular meetings and presentations to provide updates on assortment performance and strategic initiatives.
- Inventory Management:
- Monitor inventory levels and adjust orders to prevent stockouts or overstock situations.
- Implement inventory management best practices to optimize stock levels and reduce carrying costs.
- Analyze inventory data to identify slow-moving or obsolete items and develop strategies for clearance or markdowns.
- Market Research and Trend Analysis:
- Stay informed about industry trends, competitive landscape, and emerging market opportunities.
- Conduct market research to understand customer preferences and identify potential gaps in the current assortment.
- Leverage insights from market research to inform assortment decisions and drive product innovation.
- Performance Reporting and Analysis:
- Prepare and present regular reports on assortment performance, including sales, inventory, and profitability metrics.
- Use data visualization tools to create dashboards and reports highlighting key findings and actionable insights.
- Identify areas for improvement and develop recommendations to enhance assortment effectiveness and drive business growth.
Qualifications:
- Bachelor’s degree in Business Administration, Merchandising, Supply Chain Management, or a related field.
- Proven experience in assortment planning, merchandising, or a related role within a retail or e-commerce environment.
- Strong analytical skills with the ability to interpret complex data and make data-driven decisions.
- Proficiency in data analysis tools and software, such as Excel, SQL, or similar platforms.
- Excellent communication and interpersonal skills, with the ability to collaborate effectively with cross-functional teams.
- Strong organizational and time-management skills, with the ability to handle multiple tasks and meet deadlines.
- Knowledge of market trends and consumer behavior in the retail or e-commerce industry.
- Ability to work independently and manage priorities in a remote work environment.
Additional Information:
This remote position allows you to work from anywhere with a reliable internet connection. Flexibility in work hours may be required to accommodate different time zones and meet project deadlines. You will be part of a dynamic team that drives business success through strategic assortment planning and data-driven decision-making.