Senior Executive - Inventory Management
Damas Jewellery LLC
Total years of experience :21 years, 11 Months
Planning / Marketing
• Prepare annual budget and targets for The Jewellery Vault.
• Identify possible growth areas/opportunities to incorporate into the planning process and to improve sales.
• Discuss with Marketing Dept. the annual marketing plan including media plan, event calendar, and tactical/seasonal promotions.
Sales Performance / Inventory Management
• Ensure that company’s sales objectives are met
• Monitor and control ageing inventory, analyze sell through in order to develop action plan for slow and ageing merchandise
Store Management / Administrative
• Take a lead role in setting up of The Jewellery Vault with regard to stock, co-ordinating with projects for the implementation of store fitouts and with HR for staff.
• Implement sales planning after receiving sales targets and ensure outlet profitability
• Ensure adequate training is provided to new as well as existing staff. Evaluate staff performance appraisal and provide feedback to division head and HR.
• Encourage sales staff to provide feedback to improve operations.
• Encourage customer feedback & solve customer disputes. Keep the customer service department informed of the same.
• Maintain customer database coordination with the customer service department.
• Interpret and disseminate corporate and company policies and procedures to ensure implementation and compliance.
Planning
• Preparing annual budget and targets for the respective Brands and allocating relevant targets - store wise.
• Planning the purchase according to the sales and requirement.
• Prepare and follow brand sales targets, cost profitability and ensures all plans are in alignment with corporate directives.
• Identify possible growth areas/opportunities to incorporate into the planning process and to improve sales.
Inventory Management
• Having up to date knowledge of the inventory and performance of the inventory - Design wise and Store wise.
• Analyzing various reports of each brand (MIS) and taking necessary corrective actions.
• Re-allocating and Re-grouping of stocks as per the store sales performance.
• Monitor and control ageing inventory, analyze sell through in order to develop action plan for slow and ageing merchandise.
• Review the brand ageing report and discuss with management ideas on disposing the stocks either through exchanging with suppliers or other solutions to reduce aging inventory.
• Consistently monitor stock turnover ratio per brand and pro-actively reduce or increase stock inventory at shop level based on sales performance
• Negotiate for exchange with suppliers against orders in order that stocks are fresh and updated.
• Communicate with the suppliers regarding orders, payments, follow-up on orders, re-ordering, repair, and client inquiries.
Buying & Distribution
• Prepare buying plans, stock limits prior to purchasing from local and foreign suppliers for management approval.
• Prepare stock limits per brand location / country to ensure that stocks are adequate to meet sales objectives.
• Screen orders and selection to ensure that quantities are within prescribed limits.
• Distribution and re-distribution of the product based on location wise demand.
• Execute stock rotation between outlets to ensure appropriate mix.
• Monitoring the STOR location wise, style wise, and redistributing the stocks to the right locations.
Sales & Visual Merchandising
• Responsible for overall sales targets against achievement. Reallocation of the targets to various sales outlets, following up and monitoring progress.
• In-charge for display packing, guarantee and other P.O.S.M related to the brand.
• Regularly visit the shops and provide assistance to the sales staff on the requirements for the brand.
• Educating the sales staff on the brand, selling points, etc. during the shop visits.
• Coordinate with external departments such as Customer Service for customer inquiries, Marketing for PR & product details, and Logistics for shipments.
• Discuss and co-ordinate with the sales team on brand performance at shop level to ensure adequate & appropriate stock availability to meet targets.
• Answer shop inquiries on product details, availability, and provide quotation on special orders.
• Evaluation for Jewellery from shops or new Jewellery from suppliers.
• Prepares jewellery quotations for customer orders.
• Coordinate with the Jewellery Designers and Workshop for special customer orders.
• Assort precious stones to maintain the quality according to the cut, clarity, and shades.
• Controls the stocks for colored stones and caters to the shop and customer demands for precious and certified stones.
• Issues stones to overseas factories as per the approved Purchase Orders.
• Carries out a physical stock check periodically as instructed by the Management.
• Tallies and validates quantity and category of loose stones with invoice.
• Evaluate the jewellery subject for scrapping and alterations.
• Handles customers’ accounts, jewellery stocks, and follow up payments.
• Oversee work of team members.
• Issues loose stones to Assorter as and when instructed by the Head of the Dept.
• Assorts loose stones as per quality and size; checks quality as per established standards.
• Selection for issue to overseas / local workshops.
• Authenticate and confirm the genuiness of the precious stones.
• Co-ordinate with suppliers for timely delivery of diamond requirements.
• Control weekly diamond inventory.