About Our Client: Our client is a leader in the beauty retail industry.
Position Scope:
The Director of Procurement is responsible for effectively managing our client’s overall inventory across all channels including the warehouse, brick-and-mortar stores, and e-commerce to drive the company’s economic growth. The Procurement Director’s main goal is to develop procurement strategies & policies, implement effective procurement processes, maintain strong vendor relations, and negotiate good terms. The Director will analyze market trends, monitor inventory levels, and collaborate with various departments to align our procurement activities to ensure that we maximize the productivity and profitability of the company’s inventory.
This role is integral to the growth and the achievement of our client’s Vivid Vision, by optimizing the inventory management and merchandise sales for better gross margin return on investment and improved cash flow.
Responsibilities:
Procurement Strategy
- Develop and implement a buying & sourcing strategy, considering market trends, consumer preferences, and company goals. Resulting in improvement of quality of active SKUs
- Continuously seek opportunities to improve the current pricing strategies to increase the profitability of inventory
- Develop and implement an effective exit strategy for old and out-of-trend products beyond clearance sales
Inventory Management
- Develop and implement effective & efficient inventory management processes to drive increases in inventory management KPIs including inventory turnover
- Oversee the inventory of 10 brick-and-mortar stores with 1 warehouse/distribution center & e-commerce to achieve company sales targets
- Work with the vendors to maintain consistent and reliable stock availability for all active SKUs, minimizing the occurrence of stockouts
- Allocate and distribute inventory effectively, ensuring right stock at right locations
- Apply lean principles and identify areas where wastes can be reduced to improve the overall quality of the inventory
Vendor Management
- Establish vendor management KPIs to measure and drive improvements to vendor’s deliverables & terms
- Continuously work with industry vendors (45+) to strengthen relationships and reduce costs
- Leverage vendor relationships to increase support from vendors towards overall company goals
- Lead vendor negotiations and ensure execution of developed sourcing & negotiation strategy
Team Leadership and Development
- Grow a team of 3 procurement professionals through clear structure and coaching with industry best practices
- Create a scalable structure, allowing for seamless addition of new stores without requiring additional hires
- Foster a culture of continuous learning and growth within the team.
- Delegate responsibilities effectively, ensuring each team member’s skill set is maximized
Trend Monitoring and Product Lifecycle Management
- Define a clear life cycle for all active SKUs in the company
- Stay on top of consumer, vendor, and industry trends
- Introduce new and trending products to meet customer demands
- Regularly monitor vendor trends to assess any risks in supply chain and competitor landscape to make necessary adaptations
- Collect regular feedback from retail, marketing & customers
Communication and Collaboration
- Regularly assess and report the health of company’s inventory with strategic inventory data and KPIs
- Work collaboratively with multiple departments and retail stores to ensure effective communication
- Proactively engage with marketing and retail in driving increased profitability
- Lead cross-functional teams on sourcing projects and contracting efforts
Merchandising
- Collaborate with Retail Operations Manager to ensure effective visual merchandising plans are in place for the retail stores
- Regularly visit locations to assess areas of improvement and control item selection strategies
Required Skills and Knowledge:
- Demonstrated success in increasing the profitability volume and variety of merchandise
- Strong technical and analytical skills to draw insight out from large sets of data within the existing systems for making informed decisions
- Strong negotiation skills and vendor management experience
- Strong partnership with Marketing to drive sell-through
- Strong understand of pricing structure
- Understanding of inventory dynamics in the warehouse/distribution center, brick-and-mortar stores & e-commerce
Education and Experience:
- Demonstrated experience in optimizing effective procurement strategies to increase profitability and productivity for the organization
- Minimum of 7 to 10 years procurement experience and 5+ years leading teams
- Post-secondary education in Procurement, or a related field from a recognized institution preferred
- Experience opening new markets and distribution channels is a bonus
- Franchise experience is a bonus
Application Instructions:
To apply, please send a resume to Jessica Alcock at
Summit Search Group is a fair and equitable search firm. We welcome and encourage applications from people with disabilities. Accommodations are available on request for candidates taking part in all aspects of the recruitment and selection process.
