Purchase Executive

Overview

This role focuses on managing product selection, supplier relations, stock control, and pricing strategies for a company specializing in crafts and related products. The Purchase Executive ensures the store and online inventory align with customer demand and market trends while supporting own-brand product development.

Key Responsibilities

• Analyze sales data, customer preferences, store input, and seasonality to decide which products or brands to maintain, add, or discontinue.
• Scout and recommend new products in crafts, art, stationery, gifting, sewing, beads, yarn, and comparable categories to enrich product offerings.
• Contribute to the development and sourcing of own-brand products by coordinating samples, costings, packaging, and supplier comparisons under senior guidance.
• Prepare and execute reorder plans based on weekly sales and inventory checks, ensuring availability of top-selling items above 95% uptime.
• Identify and avoid over-purchasing items unlikely to sell, optimizing inventory investment and cash flow.
• Source and evaluate suppliers, wholesalers, and factories considering price, quality, delivery timelines, and payment terms; negotiate favorable agreements and maintain alternate supplier options.
• Commit to field work consisting of visits to local vendors mostly in Pune and occasional trips to Mumbai or Delhi for trade events.
• Assess all costs impacting profitability including purchase price, transport, packaging, and help set competitive yet profitable product pricing.
• Manage slow-moving stock by recommending promotional tactics such as bundling, discounts, better placement, online promotion, returns, or halting reorders.
• Engage regularly with store and online teams to align on product details, stock status, and customer demand.
• Generate weekly reports encompassing sales performance, stock status, purchase orders, and recommend actions for stock optimization.

Daily and Weekly Activities

• Monitor sales and inventory stock daily.
• Develop reorder lists and place purchase orders post-approval.
• Conduct supplier follow-ups to ensure timely product receipt and resolve delivery issues.
• Benchmark vendor rates and periodically compare with new supplier quotes.
• Visit markets and suppliers 1-2 days each week.
• Perform store walkthroughs twice weekly to track stock availability and slow-moving products.
• Submit weekly analytical reports summarizing sales trends, stockouts, outstanding orders, and required interventions.