Product Development Specialist
7 days ago
The purpose of this role is to develop a product line plan that ensures the profitability of a product category by forecasting product needs based on sales histories.
Duties & Responsibilities- Forecasting: Responsible for reviewing product lines and product line productivity to ensure sufficient items per product line to meet targets.
- Budget Management: Accountable for planned revenue and achieving set budget by identifying redundant stock and suggesting items for last buy.
- New Product Management: Responsible for managing new product budgets, ensuring that new products presented by Buyers do not exceed allocated resources.
- KPI Monitoring: Monitor and show responsibility for achieving key performance indicators (KPIs), such as sales plans, gross profit, cost reductions, stock turns, and closing stock.
Management of product lines involves conducting research, analyzing consumer trends, looking for opportunities within competitors, and working with Buyers to develop features in existing products to suit specific target markets. Stock management requires planning stock level requirements according to forecast and budgeted stock turns, managing clearance at appropriate times, assessing weekly SKU performance, and adjusting stock levels accordingly.
Desired Experience & QualificationQualification: NQF 7 degree in Finance/Economics/Supply Chain Management.
Knowledge: Financial Modelling, Forecasting, Product management, Data management, Financial Acumen, Merchandise Cycle, Managing Budgets.
Experience: Product Planner 3-5 years, Wholesale or retail experience 3-5 years, Experience with financial forecasting of a product range 2-3 years.
Skills: Excel - advanced, Powerpoint, Financial Analysis, Attention to detail, Communication, Microsoft D365, JustEnough, Research skills.
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