About the client: PSS has been mandated to hire a Manager - Regional Product Development for an Indian company that mainly manufactures fashion accessories such as jewellery, watches, and eyewear.
Job Purpose:
To introduce the right regional products by generating an in-depth understanding of cultural, ceremonial, and community-specific requirements for jewelry and by undertaking extensive indexing of relevant competition. On this basis, work closely with the Cluster management and the regional teams to determine the appropriate sales plan and the supporting assortment plans. This role will also be responsible for identifying regionally relevant products or categories that can be imbued with its signature and promoted as such. As a part of the WiMI program, this role will also work closely with the regional DEC and the Cluster management teams on the development of regionally relevant, marketed collections aligned to the regional marketing calendar.
Key Responsibilities:
Merchandising: Planning for Regional Products:
1. Mapping the current universe of regional products
2. Range-planning for regional products: Identifying the gaps in the current universe, based on customer, and community understanding as well as competitive indexing. Accordingly, planning for product introduction to ensure that these product gaps are filled
3. Collaborating with the regional vendors to ensure the development of products to fill the product gap happens on a regular & timely basis.
4. Wherever required, work closely with the Responsible Sourcing teams for the timely onboarding on relevant and capable vendor partners
5. Review of product performance and decision-making on product-continuation
6. Engaging closely with the Retail stores to drive decisions on range expansion/discontinuation
Developing a Robust vendor ecosystem for regional products:
1. Evaluating the current vendor ecosystem for regional products both in terms of expertise & cost
2. Periodic visits to the vendors to understand their capability as well to get inputs from vendors on regional products.
3. Conduct existing vendor performance evaluations based on product performance and evaluate new vendors based on skill set planning.
4. Onboarding the right new vendors in terms of expertise & cost as per the gap observed in the current regional vendor eco-system
Vendor development
On-time introduction of new products in line with both the customer requirements as well as the prescribed Quality parameters.
Periodic Competition Indexing
1. Monthly visits to regional competitions to benchmark the regional products offered, weight bands, making charges, etc.
2. Synthesis of actionable insights and incorporation into the Range plan
Competition Understanding
On time and in full completion of indexing as well as actions thereof
Product Management: Product Portfolio Management
1. Manage the entire product lifecycle from inception to product retiral for regional products.
2. Achieve Category Top Line Targets as per planned Cat-PB sales shares of regional products.
3. Provide inputs on the model stock recommendations for assortment planning.
4. Ensure the effective cascade of the newly launched regional products with all the internal teams including Retail, VM, Marketing, etc.
5. Identify poor-performing products and propose measures for ensuring their liquidation.
6. Identify the best possible offers based on the seasonality in the region & the profitability of the product.
Range planning
Proportion of regional NPIs that become regional bestsellers
Sell thru Vs target
Topline sales Vs target
Merchandising: Launch Region specific Collections
1. Create the new collection brief for the regional collection with clear deliverables on the product category, cluster, net weight & LC
2. Liaison with the NPD team and design team to ensure the concept presentation as per the timeline.
3. Approve/ select the designs created by the design studio.
4. Approve the final PDIS release; Coordinate with the NPI team for code creation.
5. Coordinate with the NPD & NPIM team to ensure that the first set of prototypes are received as per the design approved – if not ensure that the feedback is given for correction.
6. Support the NPD to conduct regional NPIM for the collection.
7. Conduct periodic canvassing with L3s for indent enhancement, seasonal up stocking etc. to improve new product penetration.
8. Collaborate with marketing for ad-variant planning
- New product introduction calendar
- Topline sales Vs target
- Collection sell thru Vs Target
Educational Qualifications And Experience:
10 -15 years with experience in Sourcing or Product development or Design or Merchandising functions with National or Regional jewelry brands.
Prior work in the jewelry sector and a thorough understanding of regional nuances is a must
Posted On:
14-Oct-2024
Function:
Merchandising
Industry:
Gems & Jewelry
Location:
Chennai
Employment Type:
Full Time