Job Description
Position: Inventory Manager
Location: Bordentown, NJ
Company Overview
With a true passion and an unwavering dedication to championing the benefits of cannabis, Evolve Cannabis (EC) offers a truly immersive experience within its store. Evolve Cannabis is a recreational marijuana store offering a variety of adult use marijuana products. EC sources its products from premier producers.
Overview of Position
The primary responsibilities of the Inventory Manager are to develop and procure the EC product line by conducting market research; locating and vetting suppliers, generating product requirements; determining specifications, pricing, purchasing; time‐integrated plans for product introduction; and developing go‐to‐ market strategies to drive sales success for EC. The Inventory Manager creates smart strategic partnerships internally and externally to deliver on innovation and novelty.
Core Competencies
To succeed, the Inventory Manager must be: Passionate, Informed, Approachable, Energetic and Trustworthy. The Outreach Manager must consistently and uncompromisingly embody and demonstrate the following:
Duties and Responsibilities
Recommend the nature and scope of present and future product lines by reviewing product specifications and requirements; appraising new product ideas; manage the EC product line assortment and life cycles.
Research and assess the market trends
Compare the company’s product to competitor’s products
Monitor competitors’ sales activities by follow their advertisements
Determine the customers’ needs and desires by conducting the research needed to obtain product information
Manage the supply, availability, and distribution of products to the store in collaboration with the General Manager and Assistant Store Manager and with Leadership team,.
Analyze and monitor sales records, trends, and economic conditions to anticipate consumer buying patterns and forecast dispensary needs to define supply requirements
Confer with sales personnel to obtain information on customer needs and preferences
Suggest new merchandise lines to other staff members and demonstrate the features and benefits of each product
Determine required inventory positions for all products
Manage the timing & product distribution to the dispensary Provide input to inventory dashboard development
Collaborate with management to determine consumer pricing strategies and promotions
Manage the purchasing of products and supplier relationships
Consult with store managers about budget and goods to be purchased
Examine, select, order, and purchase at the most favorable products consistent with quality, quantity, specification requirements and other factors
Negotiate prices, discount terms and transportation arrangements for merchandise
Work on budget and purchase orders, in collaboration with General manager and Controller
Identify, vet, and work closely with licensed producers to obtain and develop desired products and product lines
Assess the condition of merchandise orders upon shipment arrival to see if the quality standard is acceptable and if it meets the guidelines and quantity decided upon for the product
Authorize payment of invoices or return or merchandise, in collaboration with General manager and Controller
Maintain proper log and count of all products, including internal counts Inspect merchandise or products to determine value or yield
Provide information for management by preparing short‐term and long‐term product sales forecasts and special reports and analyses, answering questions and requests
Develop demand forecast
Facilitate inventory turnover and product availability by reviewing and adjusting inventory levels and production schedules
Run reports in point of sale system to inform plans and validate results
Prepare reports on store and inventory KPIs as well as monthly reporting
Develop and manage an integrated go‐to‐market product communications and promotional plan
Obtain product market share by working with Marketing Manager to develop product sales strategies
Communicate promotional offerings to General Manager
Constantly review and monitor promotions performance by reviewing and analyzing analytics Analyze customer purchase behavior and lifetime value
Draw key learnings for optimization and refinement of the promotional plan
Act as a brand steward by upholding the EC brand throughout all promotional activities
Ensure compliance with all State rules and regulations for the handling of products
Keep and manage all required compliance records related to products
Interface with other company teams and functions to affect accurate record keeping, including inventory counts
Maintain professional and technical knowledge by attending educational workshops; reviewing professional publications; establishing personal networks; participating in professional societies
Other support duties may be assigned by the General Manager or Leadership team
Education and Work Experience
Bachelor’s degree in business, finance, marketing, or a related field
Two or more years of experience in purchasing
Work history showing progressive responsibility, willingness to accept additional projects or challenges
Knowledge, Skills and Abilities
Knowledge of computer & office equipment and programs (inventory systems; Word; Excel; office equipment such as copiers/telephone systems)
Extensive math required for inventory control, projections, pricing, competitive analysis, sales planning, and financial planning
Ability to negotiate pricing and shipping details with vendors Effective and efficient communication skills are a must
Physical Requirements
Extended time standing, walking, bending, and reaching
Ability to lift and carry up to 50 lbs. for the distance of 100 feet
This position requires occasional extended and repetitive use of arms, hands, and fingers to cut and manipulate small objects
Must pass background check (state mandated) Must have reliable transportation
Must be at least 21 years of age
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