Buying Manager

2 weeks ago

Kuala Lumpur, Kuala Lumpur, Malaysia Al-Futtaim Group Full time

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Established in the 1930s as a trading business, Al-Futtaim today is one of the most diversified and progressive, privately held regional businesses headquartered in Dubai, United Arab Emirates.

Structured into five operating divisions; automotive, financial services, real estate, health, retail including M&S brand; employing more than 33,000 employees across more than 20 countries in the Middle East, Asia and Africa, we partner with over 200 of the world's most admired and innovative brands.

Al-Futtaim's entrepreneurship and relentless customer focus enables the organization to continue to grow and expand; responding to the changing needs of our customers within the societies in which we operate.

By upholding our values of respect, excellence, collaboration, integrity; Al-Futtaim continues to enrich the lives and aspirations of our customers each and every day. For more information visit: www.alfuttaim.com

Job Purpose:
To be responsible for the accurate procurement and management of stock in order to maximise sales & profitability.

To liaise effectively with the International Franchise Team to influence buying/selling process.

To manage the process of taking products from concept to stores in order to deliver category targets and get products from M&S UK into stores in a timely and cost-effective way.

Job Descriptions:

  1. Develop and execute purchasing strategies based on market trends, sales forecasts, and business goals.
  2. Inventory Control: Monitor inventory levels to ensure optimal stock levels, reduce stockouts, and minimize excess inventory. Collaborate with the logistics team for efficient inventory flow.
  3. Cost Management: Analyze product costs and work towards reducing expenses without compromising quality. Monitor market conditions and adjust purchasing strategies accordingly.
  4. Product Selection & Assortment Planning: Oversee product selection and ensure that offerings align with customer needs, market demand, and seasonal trends. Develop an assortment plan that maximizes profitability.
  5. Budget Management: Manage purchasing budgets and ensure that spending stays within allocated limits while achieving business objectives.
  6. Stock Management: Work closely with the selling floor teams analyzing and identifying trends through sales and stock information and regular store visits. Maximise profitability by using all information available on probes to initiate action in areas that are not performing to targeted expectations. Manage target builds for generating sales and minimize losses on slow lines. Effectively manage stock commitment in order to maximise sales and profitability. Control the initial allocation for catalogued lines to stores. Manage stock and catalogue commitment in line with agreed promotional activities and peak trading opportunities. Initiate ideas on selling and promotional activities. Liaise with display and store personnel to achieve the agreed promotional look and effective use of both stock and supporting material.
  7. Profit Management: Strategize and execute budget plans and estimates for both the Buying Fair and in-season estimates. Review budget proposals throughout the season, initiating and taking appropriate action where necessary. Set and update detailed sales estimates by range and product within category budget. Set store stock targets for range and agree with store management.
  8. Financial Control and Budgeting: Manage catalogue planning at all times ensuring catalogues meet customer profiles and reflects the correct range of product mix to fully maximise on market opportunities. Review and take action on "in season" range sales and stock estimates. Work closely with cross-functional teams, including store operations, marketing, logistics and other internal stakeholders to ensure sales/ business strategies are effectively implemented and executed. Communicate effectively with stakeholders at all levels to share relevant insights and recommendations for overall business strategies and plans.
  9. Training & Development: Provide products and merchandise mechanism training to store team to enhance sales process and customer buying experiences. Work closely with HR & L&D team to foster a culture of continuous improvement and innovation within the team.
How do your skills match this job?

Your application will include the following questions:

  • How many years' experience do you have with forecasting for businesses?
  • Which of the following statements best describes your right to work in Malaysia?
  • Do you have experience in a sales role?
  • What's your expected monthly basic salary?
  • Have you worked in a role where you were responsible for budget management & forecasting?
  • Which of the following types of qualifications do you have?
  • How many years' experience do you have as a Buying Manager?
  • Have you worked in a role where you were responsible for stock control?

Retail & Consumer Products 101-1,000 employees.

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