Job Title: CBO Buyer
Full/Part Time: Full-Time
Job ID: 36520
University StoresJob Description
A University of Missouri enterprise operation, the University of Missouri Campus Retail operates multiple retail stores located throughout the state and associated ecommerce web sites. The University of Missouri Campus Retail has the delegated authority to purchase certain goods without the consent of Procurement, including items for resale to individuals without taking competitive bids (BPM-306). In addition, as retailers, the University of Missouri Campus Retail must manage its open-to-buy programs, product/merchandise flow, successfully merchandise to meet sales goals/margins, and consistently monitor inventory/shrinkage. In budget year 2020, the value of its operations was 30.9 million dollars.
The Buyer selects and buys retail merchandise or commodities for assigned lines to meet or exceed sales, profit, and inventory; facilitates the internal and external partnerships that allow the University of Missouri Campus Retail to be a customer driven and official retailer of the University or of a specified brand. Responsibilities include but are not limited to staying current on trends; analyzing past sales performance; and selecting, ordering, negotiating, and authorizing shipments, payments, and returns for merchandise, which involve routine and straightforward transactions to complex purchases, exchanges, or returns which bear certain degrees of risk.
Also, the buyer assists senior management in developing and executing strategies appropriate to individual stores and target consumer groups to achieve sales and margin goals, maximizing sales and profitability.
Manage an open to buy program, demonstrating sound financial acumen and grasp that decisions have on the return on investment (ROI). Formulate sales plans and target revenues, establish inventory levels to support plans using appropriate stock-to-sales ratios accounting for existing on-orders, markdowns, transfers and returns, and adjust accordingly. Utilize specialized software to analyze the flow of inventory at each retail location and throughout all locations including the distribution center to ensure appropriate balance of stock. Achieve sales and margin goals, maximizing sales and profitability through optimal turnover, reduced markdowns and deadstock, and fresh merchandise. Respond rapidly to urgent situations, such as those driven by athletic or special events.
Select and purchase merchandise or products for assigned categories. Ensure that new items and transfers are set up properly in the inventory/point-of-sale system. Plan, evaluate and provide projections for maintaining suitable in-stock levels and replenishment of designated merchandise/product. Communicate with vendors regarding replenishment fill rates. Analyze backorder and on hold reports to establish restocking points and identify potential reordering issues in the future. Place purchase orders in a timely manner to avoid low or out-of-stock levels and minimize backorders. Resolve purchase order/invoice questions as necessary.
Effectively negotiate price and terms of payment, freight and advertising allowances, return practices, discounts, cancelations for defective goods and brand and quality of merchandise. Determine pricing to maintain established gross margin and appropriate price points. Develop statistical reports and analyze to ensure proper buying decisions. Work closely with retail managers, distribution center staff and other staff necessary to gather information needed to maximize sales performance and achieve margins. Manage markdowns and the negotiation and collection of vendor allowance for returns.
Implement merchandise strategy, including product selection and development. Continually follow market conditions including price, resourcing, fashion, and general consumer preferences as they relate to trends and key products/merchandise, and react accordingly to impact sales opportunities. Search for, evaluate, and select new vendors or suppliers. Shop competition to compare products, pricing, and merchandising, etc. to ensure store specific product selection.
Monitor financial reports, analyzing trends, detecting errors, and improving business practices. Assist with developing and providing analytical reports and information on each store’s successes and opportunities for improvement.
Ensure accuracy, consistency and up to date entry of data into computerized inventory systems for inventory maintenance, purchase order development, inventory returns, etc. Enter, select, and extract data; design, review, compare and reconcile reports. Coordinate and oversee inventory controls for assigned categories, including monitoring the receiving and transferring of product. Resolve purchase order and invoice problems as needed. Maintain current knowledge of point of sale/computerized inventory control system. Utilize intelligent software applications for sourcing and pricing to maintain competitive pricing while maximizing margins
Develop and maintain positive and effective vendor relationships to ensure reliability and high levels of service, which includes periodically meeting with vendors. Develop partner programs with vendors to increase competitiveness.
Assist internal departments in matters that are directly or indirectly involved with merchandising, i.e. stores, marketing, distribution, and ecommerce. Share/convey product knowledge to retail staff. Work with stores and the distribution center to answer questions, and identify and resolve issues.
Provide leadership, training, and performance feedback in a professional and positive manner to student employees, and interns.
Assist with the development of quarterly and annual reports, and provide on-going analysis to store leadership. Assist with the development and maintenance of departmental policies and procedures.
Plan, develop, and initiate sales promotion activities and promotional calendar in conjunction with the store management in each location. Communicate effectively with sales floor managers and supervisors regarding events and promotions.
May perform various administrative and customer service functions including coordinating department requisitions, contacting customers regarding special orders, developing written correspondence, maintaining departmental calendar, coordinating and scheduling meetings, organizing timesheets and obtaining authorized signatures
Participate in department-wide committees.
Travel to regional locations as necessary.
As with all positions, involvement with other duties and responsibilities is expected in order to serve the customer and maintain our University of Missouri Campus Retail mission.
Salary: $15.29 - $26.11 per hour
University Title: Business Support Specialist II
Internal applicants can determine their university title by accessing the Talent Profile tile in myHR.Shift
Monday through Friday
8:00 a.m. - 5:00 p.m.
An Associate’s degree or an equivalent combination of education and experience and at least 2 years of experience from which comparable knowledge and skills can be acquired is necessary.Preferred Qualifications Strong proficiency in office software such as spreadsheets and databases.Previous retail purchasing experience working with open-to-buy.Must be able to work weekends, evenings, and varying hours as required.Commercial/industry awareness and demonstrated ability to act on changing market conditions.Benefit Eligibility
This position is eligible for University benefits. The University offers a comprehensive benefits package, including medical, dental and vision plans, retirement, paid time off, and educational fee discounts. For additional information on University benefits, please visit the Faculty & Staff Benefits website at http://www.umsystem.edu/totalrewards/benefits
The University of Missouri is fully committed to achieving the goal of a diverse and inclusive academic community of faculty, staff and students. We seek individuals who are committed to this goal and our core campus values of respect, responsibility, discovery and excellence.
Equal Employment Opportunity
Equal Opportunity is and shall be provided for all employees and applicants for employment on the basis of their demonstrated ability and competence without unlawful discrimination on the basis of their race, color, national origin, ancestry, religion, sex, pregnancy, sexual orientation, gender identity, gender expression, age, disability, protected veteran status, or any other status protected by applicable state or federal law. This policy shall not be interpreted in such a manner as to violate the legal rights of religious organizations or the recruiting rights of military organizations associated with the Armed Forces or the Department of Homeland Security of the United States of America. For more information, call the Vice Chancellor of Human Resource Services/Affirmative Action officer at 573-882-4256.
To request ADA accommodations, please call the Disability Inclusion and ADA Compliance Manager at 573-884-7278.
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