Forecast Analyst
WFA Digital Insight
As demand for data-driven merchandising strategies grows, companies like REI are seeking skilled Forecast Analysts to optimize inventory and drive sales. With a 25% increase in outdoor enthusiasts over the past year, REI is poised for growth. To succeed in this role, candidates will need to leverage their Excel skills and business acumen to inform product trends and manage vendor relationships. Before applying, candidates should be aware of the company's commitment to pay equity and transparency.
Job Description
About the Role
The Forecast Analyst position at REI is a critical role that entails examining product trends, managing inventory, and developing business insights to drive sales growth. As a key member of the merchandising team, the successful candidate will work closely with cross-functional teams to optimize product assortment and manage vendor relationships. The ideal candidate will have a strong analytical mindset and excellent communication skills.The Forecast Analyst will be responsible for analyzing sales data, identifying trends, and developing forecasts to inform product purchasing decisions. This will involve working closely with the Category Planning Manager to develop seasonal financial plans and managing product inventory to ensure that sales goals are met. The role will also involve developing and maintaining strong relationships with vendor partners and communicating effectively with internal stakeholders.
REI is committed to becoming a fully inclusive, anti-racist, multicultural organization, and the Forecast Analyst will be expected to embody these values in their work. The company offers a range of benefits, including opportunities for professional development, a competitive compensation package, and a collaborative work environment.
What You Will Do
- Develop and maintain accurate forecasts of product demand using Excel and other analytical tools
- Analyze sales data and product trends to inform purchasing decisions
- Work closely with the Category Planning Manager to develop seasonal financial plans
- Manage product inventory to ensure that sales goals are met
- Develop and maintain strong relationships with vendor partners
- Communicate effectively with internal stakeholders, including the merchandising and replenishment teams
- Develop and maintain business insights to inform product assortment and pricing decisions
- Manage markdown planning and product end-of-lifecycle recommendations
- Partner with the Replenishment Analyst to prioritize in-season item reactions
What We Are Looking For
- Minimum 2 years of merchandising experience
- Bachelor's degree in a related field
- Strong analytical and problem-solving skills
- Excellent communication and relationship-building skills
- Proficiency in Excel and other Microsoft Office applications
- Experience with product trend and inventory examination, forecasting, acquisition, allocation, and management
- Knowledge of merchandising math methods, including open-to-buy, initial mark-up, gross margin, markdowns, shrink, damages, and inventory turnover
- Ability to work in a fast-paced environment and prioritize multiple tasks
Nice to Have
- Experience working in the outdoor industry
- Familiarity with REI products and services
- Certification in a related field, such as merchandising or supply chain management
- Experience with project management and cross-functional teamwork
Benefits and Perks
- Competitive compensation package
- Opportunities for professional development and growth
- Collaborative work environment
- Comprehensive benefits package, including health, dental, and vision insurance
- 401(k) retirement plan with company match
- Generous paid time off and holiday schedule
- Remote work stipend and flexible work arrangements
How to Stand Out
- Develop a strong understanding of Excel and other analytical tools to succeed in this role
- Highlight your analytical and problem-solving skills in your application and during the interview process
- Be prepared to discuss your experience working with vendor partners and managing product inventory
- Showcase your knowledge of merchandising math methods and your ability to apply them in a real-world setting
- Prepare examples of times when you have developed and maintained business insights to inform product assortment and pricing decisions
- Research REI's company culture and values to demonstrate your understanding of the company's mission and commitment to diversity and inclusion
- Be prepared to negotiate your salary and benefits package based on your research and industry standards
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