Inventory Optimization Specialist
2 weeks ago
Sport Chek is a leading Canadian retailer
We are seeking a highly skilled Inventory Optimization Specialist to join our team in Toronto, Canada.
The estimated salary for this position is $70,000 - $90,000 per year.
About the Job
As an Inventory Optimization Specialist at Sport Chek, you will play a critical role in positioning the products Canadians desire by optimizing the allocation and replenishment of merchandise in our store network.
Your primary responsibility will be to manage the flow of inventory from our distribution centers, monitor sales trends, and make informed decisions based on data and business unit discussions.
- Inventory Analysis: Analyze historical and predictive sales data, market trends, and promotional activities to support future demand across a variety of commodities.
- Merchandise Allocation: Determine the appropriate quantity of merchandise to allocate to each store location based on factors such as sales performance, store size, and local market conditions.
- Replenishment Planning: Manage forecasts and inventory policies to ensure timely and sufficient replenishment with reference to current and projected inventory levels, seasonality, weather, store size and capacities, lead-times, and promotional events.
- Product Flow Optimization: Coordinate with distribution centers to monitor inbound and outbound shipments, ensuring efficient product flow and minimizing stockouts or excess inventory in store.
- Sales Performance Monitoring: Track and analyze store-level sales performance metrics to identify opportunities for improvement or adjustment in merchandise allocation strategies.
- Reporting and Analysis: Prepare regular reports for management review summarizing key metrics related to inventory management, allocation decisions, and sales performance.
- Collaboration: Work closely with cross-functional teams such as buying, planning, supply chain, and store operations to gather insights, align strategies, and optimize overall business performance.
What You Need
To succeed in this role, you will need:
- A Bachelor's degree in business administration, supply chain management, or a related field.
- Previous experience in allocations, inventory management, or retail merchandising is highly desirable.
- Strong analytical skills with a proficiency in Excel. Experience in O9, Power BI, ThoughtSpot, Alteryx, or other data analysis tools would be considered an asset.
- Excellent attention to detail coupled with the ability to make quick decisions based on complex datasets.
- Understanding of retail math and retail KPIs, such as sell-through rates, weeks of supply, turn, service levels, and in-stocks.
- Effective communication skills to collaborate with internal teams and external partners.
- Ability to adapt and problem-solve in a fast-paced environment while managing top priorities and expectations.
About Our Team
We value flexibility and have adopted a hybrid work model whereby employees use a combination of working in office and virtually in service of outcomes.
Each leader is empowered to decide what work is best achieved in person based on the unique needs of their team.
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