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Purpose: Managing the forecasting of selection and variety of products offered by an ecommerce website. Predict consumer demand to manage inventory and guide supply chain operations. Create and maintain forecast models for customers. Assist the Ecommerce team with analysis and improvement of customer processes and inventory through generating product reports for decision making (sell-through rate, sales volumes, average order value, aged-inventory). Manage inventory levels and pricing according to BU requirements. Track product inventory and maintain knowledge of current and future trends. Generate progress reports and presentations. Identify forecast changes and ensure that the products meet customer needs, preferences, and expectations, as well as business goals and strategies.
Key Responsibilities:
Collect data from internal and external sources on factors known to affect demand.
Analyze sales, stock, and other data statistics.
Review historical sales trends.
Model the data to forecast future demand.
Obtain information on occurrences that could impact demand like promotions and production delays.
Gather updates on vendors, distributors, sales, and other stakeholders that can affect demand.
Develop demand forecasts at multiple levels of aggregation for multiple time horizons.
Coordinate cross-functional research activities to reconcile significant variances.
Interact with sales, marketing, and customer finance to understand demand forecast drivers.
Provide input to the supply planning organization in developing inventory strategies on existing items, new products, and product phase-outs.
Refine systems and methods to improve forecasts to better anticipate customer needs.
Collaborate across functions and within the business unit to effectively build optimum product assortments.
Develop and implement the product assortment strategy and plan, based on customer demand, market trends, and competitive analysis.
Evaluate and optimize product assortment performance, based on sales, profitability, inventory, and customer satisfaction metrics.
Identify and resolve product assortment issues, such as gaps, overlaps, or redundancies.
Recommend and execute product assortment changes, such as adding, removing, or replacing products, based on data and feedback.
Collaborate with teams such as marketing, merchandising, web development, and customer service to ensure product assortment alignment and integration.
Manage e-commerce inventory levels and pricing according to business requirements for all products.
Analyze data and performance of e-commerce customer experience to draw performance insights, identify gaps, and suggest improvements.
Proactively optimize all activities towards KPIs.
Operational Responsibilities:
Understanding of an online customer's journey from order placement to fulfillment and beyond. Analytical skills to quickly assess rifts in experience and the ability to generate reports based on retail metrics. Strong computer skills with proficiency in tools such as Microsoft Office Suite (Excel, PowerPoint, Word).
Required Qualifications and Experience:
Relevant qualification or experience in inventory management.
Knowledge of inventory metrics.
5+ years experience in demand planning and building product assortments within online marketing (preferred).
Experience in online customer journey mapping and orchestration.
Understanding of the retail e-commerce space & customer journey.
Ability to translate numbers and data into reliable insight.
Understanding of seasonality and peak demand times.
Presentation skills and speaking ability.
Required Competencies:
Experience in e-commerce, inventory management, or category management (preferred).
Knowledge of e-commerce platforms, such as Shopify, Magento, or WooCommerce (preferred).
Proficiency in Microsoft Excel, Google Sheets, or other spreadsheet tools.
Presentation skills and speaking ability.
Cross-functional collaboration skills.
Accountability.
Confidence in your position.
Ability to create and implement product assortment strategies.
Attention to detail and accuracy.
Creativity and problem-solving skills.
Communication and teamwork skills.
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