Majid Al Futtaim
Majid Al Futtaim has brought fun and happiness to the lives of people from around the world.Role Summary
The Senior Buyer plays a pivotal role in driving the sourcing, procurement, and development of product ranges that align with customer needs while ensuring optimum cost, quality, and availability. This role maximizes profitability and maintains a commercially viable merchandise assortment for MAF Lifestyle. The Senior Buyer will collaborate with the General Manager of planning and merchandising to shape strategic initiatives, identify growth opportunities, and mitigate risks in areas such as brand assortment, product selection, inventory management, and margin optimization.
Role Responsibilities:
- Develop and implement an effective buying strategy in alignment with MAF Lifestyle and brand guidelines.
- Oversee key functions, including vendor sourcing and development, contract negotiations, purchasing, and coordination with supply chain and warehouse teams to ensure operational efficiency.
- Curate profitable and commercially viable product ranges to meet customer needs and drive sales growth.
- Prepare and manage the Open-To-Buy (OTB) budget, categorized by store, category, and subcategory.
- Monitor and manage stock levels with the General Manager to minimize lost sales, ensure balanced product mixes, and enhance buying processes.
- Contribute to developing annual business plans and budgets, tracking performance, and implementing corrective actions to meet financial targets.
- Achieve financial objectives related to buying activities, including OTB management, margins, sell-through rates, and markdowns.
- Negotiate pricing, shipment costs, payment terms, and intake margins with local vendors to ensure business efficiency and profitability.
- Foster and maintain strong, profitable relationships with suppliers while ensuring adherence to contractual agreements.
- Stay updated on customer trends, demographic changes, and other influencing factors to align buying decisions with customer preferences and improve the shopping experience.
- Conducted fashion trend analysis and provided training on new product launches and seasonal updates to store teams as required.
Requirements - Experience: 4-5 years in a senior merchandising role, with a mandatory background in retail.
- Education: A Bachelor’s degree in Fashion, Marketing, or a related field.
- Additional Qualifications: Certification in Retail Management, Purchasing, Sales, or similar disciplines is preferred.