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Closeout Buyer in Memphis at Vaco

Date Posted: 3/6/2018

Job Snapshot

Job Description

Position Overview:

A resourceful buyer with the abilities for sourcing a continuous stream of unique products at incredible values both domestically and overseas through closeouts and opportunity buys.

Duties and Responsibilities:

  • Builds and maintains a strong network of vendor/supplier contacts to track down great merchandise
  • Selects merchandise, negotiates cost and discount terms, sets retail prices (taking into account transportation and logistics costs) to meet company sales, margin, and inventory turn goals
  • Identifies and shops competition to maintain excellent pricing, merchandising, and selection
  • Maintains knowledge base of industry and competitor market trends as it relates to their assigned business area
  • Maintains existing and develops new product categories and assortments
  • Partners with the store management to complete accurate forecasts, to evaluate sales, markdowns, inventory, and product placement
  • Provides correct information and inputs for point of sale signage and maintains integrity of quality of signage for ease of store execution level
  • Manages and controls the markdown process for their area
  • Analyzes sales trend, key items, vendor profitability, and aged inventory and makes recommendations for driving improved performance
  • Coordinates with buying team and operations team to develop "wow" items for ads, ad copy, and ad planning
  • Attends Trade Shows, visits vendors, closeout dealers and other sources to seek out merchandise opportunities.
  • Negotiate with consideration of mutual profitability and growth
  • Conduct Planogram setup and maintenance both basic and seasonal
  • Monthly endcaps, stackouts, sweet spot and spot light items
  • Coordinate all activities of department with Administrative Assistants, Rebuy, Allocation, Planners, Traffic, Distribution Center, Accounts Payable, Imports, Store development, Operations and Sales & Marketing
  • Travel requirements of this position include; local, domestic and international travel to meet with vendors, attend tradeshows and review marketplace conditions

Minimum Requirements:
  • Previous experience finding closeout or opportunity buys preferred
  • Bachelor's degree preferably in Merchandising, Marketing or Business
  • 3+ years of buying experience required
  • Merchandising, product knowledge, and analytical skills
  • Proficiency in the use of desktop applications and Windows-based programs
  • Resourceful and creative at finding unique items and great values