Inventory Optimization Specialist
4 weeks ago
Job Overview
The Inventory Optimization Specialist will play a crucial role in ensuring that the correct stock is on the right place at the right time to maximize sales. This involves optimizing the flow of stock through the business to the stores by means of auto re-ordering and allocation, while assisting the merchandising team with weekly, seasonal, and ad-hoc analysis and communicating to the buying teams.
Key Responsibilities
- Maximize both stock availability and stockturn through best use of auto replenishment and allocation.
- Optimize stockturn by highlighting slow-selling products and recommending actions to be taken.
- Action transfer of stock between stores and DC once agreed and ensure that RTV deadlines are met.
- Maintain an up-to-date knowledge of the department, concession performance, best and worst sellers, competitor activity, etc.
- Input markdown following direction from the Merchandiser/AM.
- Work with the DC to resolve queries and to highlight any unresolved problems.
- Chase suppliers for delivery of orders within the allocated delivery window and assist with booking in at DC where necessary.
- Monitor supplier fulfillment rates on deliveries and highlight any poor suppliers to AM.
- Provide weekly, seasonal, and ad-hoc analysis for the Buyer and Merchandiser to inform them of risks and opportunities.
- Maintain an up-to-date knowledge of the relevant systems (Retek, Excel, Essbase) and to attend training when required.
About You
- You will have strong retail knowledge and a solid understanding of Merchandising.
- You are organized and proactive, able to multi-task, prioritize, and work to tight deadlines, while maintaining excellent attention to detail.
- You are a problem solver, able to apply different ways of thinking in different situations.
- You are a great communicator, both verbal and written, able to work across various teams.
- You are a proactive team member, able to collaborate with the wider Buying and Merchandising teams.
- You are pacey, positive, and flexible, responsive to business needs, and happy to take responsibility for your tasks.
- You are analytical and results-driven, able to use data to measure performance and identify areas of improvement.
- You are systems-literate, proficient in Excel, and other Microsoft Office software, with high levels of accuracy.
- You are an example of our values, a trusted and respected colleague.
About Selfridges
We are a leading retailer, committed to delivering exceptional customer experiences and driving business success.
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