The Merchandise Planner & Analyst is responsible for forecasting product demand, developing inventory allocation strategies, analyzing inventory turn/sell through, and evaluating sales trends & results. The merchandising planner & analyst streamlines the flow of merchandise by providing the organization with trend analysis, allocation, and guidance. A blend of data analysis and merchandising/retail sales experience are desirable for a merchandising analyst. Significant analytical experience and computer proficiency with programs like MS Excel are essential. Strong written and verbal communication skills are also necessary. Organization, creative problem-solving, and a continuous improvement mentality are key qualities for success in this position.
Inventory Planning & Analysis:
Aid the Product Development team with pre-season merchandise plans by providing data for each category and product. Make recommendations on plans that support inventory level targets.
Provide the Product Development team with statistics and reports to streamline the new product development process and reorder process.
Suggest reorders so that stock-outs are minimized and inventory turn is maximized.
Evaluate & understand seasonal demand and sales trends when suggesting first-time purchase order quantities, reorder quantities, & allocation quantities to stores.
Provide guidance about selling patterns, the timing of future purchases, and purchasing strategies.
Monitor inventory levels for domestic suppliers and direct reorders as needed. Oversee process for customer special orders.
Maintain desired inventory levels and assortments at store locations and distribution center.
Coordinate weekly replenishment shipments to stores. Prepare import file for transfer orders.
Create allocations based on store plans, historical performance, current business trends and/or seasonal strategies.
Evaluate system generated replenishment report and make adjustments based on current factors.
Organize and coordinate shipment of store pre-sells and customer special requests.
Evaluate negative quantities at stores and coordinate cycle counts. Review cycle count reports and make inventory adjustments.
Work with Visual Merchandising to determine amount of square footage dedicated to each product category. Replenish the store to a level that can be supported by the square footage allotted. Provide data on dollars per square foot generated by a product category.
Promotions & Markdowns
Develop markdown strategies. Evaluate product life cycle and suggest markdown schedule for both retail and wholesale divisions.
Identify over stocked products in distribution center and individual retail stores. Suggest sell down strategies.
Suggest products and markdown pricing for weekly, monthly, and seasonal promotions. Work with Marketing and Visual Merchandising to coordinate promotions in stores, showrooms, and online.
Prepare import spreadsheet for temporary and permanent price changes for retail stores, online, and wholesale showrooms.
Monitor product category sales and identify sales trends company-wide and at individual store levels. Recap and analyze actual sales results to plan on a weekly, monthly, and annual basis.
Prepare weekly sales reports to evaluate store performance on current promotions. Provide suggestions to increase sales at low performing stores.
Create Excel reports/charts that are visually pleasing and accurately represent the data.
Explain sales trends and suggest modifications to current strategy in weekly Corporate & Retail Manger meetings.
Supervise Inventory Specialists on domestic vendor orders, customer special orders, domestic item pricing, domestic item set-up, cycle counts, and inventory adjustments.
Develop and maintain effective working relationships with Product Development, Marketing/E-Commerce, Corporate Retail Management, and Visual Merchandising.
Special Projects as needed.
Knowledge, Skills, and Abilities:
Experience with Microsoft Office Required. Extensive experience with Excel formulas, VLookUps, Concatenate, If/Then, Text to Columns, Pivot Tables, Grouping, Filtering, etc. Required.
Experience with Net Suite preferred.
Strong critical thinking skills.
Detail oriented and attention to accuracy
Independent worker and self-starter
Ability to work without supervision and to make appropriate decisions
Bachelors Degree in Finance, Accounting, or Economics is preferred. Other degrees or no degree at all are sometimes acceptable with a combination of retail and allocation experience.
1-3 years experience in similar job function and industry
Supervisory experience preferred
Periodic travel to retail stores and wholesale showrooms
Subject to pre-employment drug and background screening.
About The Royal Standard: We are a privately owned specialty retailer and wholesaler that manufactures & sells fashion accessories, clothing, gifts, and home interiors. With three retail stores in Louisiana, one store in Gulf Shores, AL, and one store in Cypress, TX, we are growing quickly! Our wholesale division has showrooms in Atlanta and Dallas, and our distribution center is located 20 minutes outside of Birmingham, AL. The Royal Standard in Baton Rouge has been voted Best Gift store and Best Home Interiors store in Baton Rouge for 5 years in a row by 225 Magazine. The Lafayette location has been voted the Best Antique and one of the Best Home Decor stores in Lafayette for 3 years in a row by The Times of Acadiana. Join our “unique” team and become part of our “royal lifestyle”!