Purpose Of Position: The Vice President of Merchandising role works strategically to keep the business at the forefront in the industry by ensuring that our retail facilities are equipped with high quality products aimed to produce profit earning margins.
- Oversees and guides the merchandising/buying team to drive strategic plans of the business from a retail inventory perspective.
- Approves all purchase orders
- Analyzes sales performance of all inventory items daily, weekly, monthly and annually.
- Remains abreast of the latest product trends, consumer preferences and buying patterns to influence the inventory and product assortment offered in our retail locations.
- Strategically aligns with the retail and marketing divisions to set promotions, forecasts and customer-focused campaigns aimed at increasing store traffic and average sales transactions.
- Gathers competitor intelligence (market, benchmark competition, pricing).
- Maintains extensive knowledge of all compliance and regulatory factors related to product inventory for all retail jurisdictions.
- Devises, implements and manages all merchandising strategies to maximize revenue and increase profit margins for all retail locations.
- Conducts monthly and quarterly analysis of product mix to determine and recommend purchase quantities for reach retail location.
- Maintains and cultivates long-term relationships with vendor partners and suppliers.
- Leads brand acquisition efforts for target brands and identifies unique brands that are in line with the assortment strategy for the retail division.
- Drives operational excellence of the merchandising team; promotes development and awards stellar performance.
- Creates and fosters a collaborative, innovative and results-oriented team culture.
- Performs other related duties and projects as business needs require at the direction of management.
Education and Experience:
- Bachelors degree in Business Administration, Communications, Finance or related discipline; preferred.
- Relevant work experience; any viable experience in the cannabis or another heavily regulated industry preferred.
- Possesses strong business acumen and leadership ability
- Personal Effectiveness/Credibility
- Ability to visualize and assess abstract ideas to develop and implement structured plans, and ability to define and lead teams to goal completion
- Experience with ERP systems and planning tools
- Strong Microsoft Office skills (Excel and Outlook)
- Strong knowledge of inventory and accounting principles
- Proficient English verbal and written communication skills.
- Must have strong communication skills, both verbal and written, to assist wide-ranging customer base.
- Ability to communicate business strategy and initiatives to C-level and senior executives.
- Ability to communicate clearly with employees, management, and team members.
- Ability to communicate effectively in culturally diverse business environment.
- Possesses strong presentation and public speaking skills.
Knowledge, Skills, and Abilities:
- Extensive knowledge of standard concepts, practices, and procedures within the cannabis industry.
- Proficient knowledge of general office procedures.
- Strong background in a variety of inventory management concepts, practices and procedures.
- Ability to make administrative/procedural decisions and judgments.
- Ability to clearly identify issues and formulate and convey solutions.
- Demonstrated ability to build and maintain cohesive work teams.
- Ability to prioritize and organize duties and responsibilities effectively.
- Ability to think creatively, critically and analyze data and write reports.
- Ability to be reliable, dependable, and adaptable.
- Strong leadership, teamwork, and interpersonal skills; with the ability to deal with both internal and external customers and vendors.
- Ability to determine acceptability of work based on assigned criteria.
- Demonstrated effective problem-solving abilities.
- Demonstrated effective time management skills with the ability to multitask effectively and see projects from inception to completion.
- Ability and willingness to travel to remote locations based on business needs.
- Strong vendor management experience required.
- Strategic operations experience. Evidence of ability to drive operations, conduct analysis, design and implement new processes and lead strategic change initiatives.