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Lead Inventory Planner

Job Description

The Lead Inventory Planner will be responsible for delivering a best-in-class customer experience through the strategic management of inventory for our fast-growing greenery & décor categories. You will partner with the Merchandising, Purchasing, E-commerce, and Operations teams to maximize sales and in-stocks, identify trends and opportunities, optimize inventory efficiency, and drive profitable growth. You will also have significant interactions with our large vendor network, building relationships to help us sustain our long-term growth.

This full-time position reports to the Manager of Inventory Planning and is expected to work in a hybrid model, which currently includes Monday, Tuesday, and Wednesday in-office.

What you’ll do:

  • Demonstrate a Strategic Mindset with strong business acumen, allocation of resources and action.
  • Create pre-season, item-level sales plans that align with company financial goals and open-to-buy constraints
  • Design inventory strategies that balance the composition of new and core, carry-over merchandise, and support in-stock and inventory level targets
  • Determine item level order quantities and flow strategies and partner with Procurement to ensure timely and accurate execution of purchase orders and track on time shipments
  • Leverage historical data to identify key learnings around product, pricing, and inventory and apply learnings to future seasons
  • Present strategies, investments, risk analysis and recommendations to cross-functional partners and senior leaders
  • Perform in-season, item level forecasting and ad-hoc analysis to identify inventory-related risks and opportunities for chase
  • Develop strong cross-functional partnerships with Merchandising, Sourcing, E-commerce, Operations, and external vendors
  • Provide critical thought partnership to functional leads within the teams you support
  • Regularly meet with managers and leaders to understand team landscape, diagnose issues, and brainstorm potential solutions, and generally support team health and pathways forward
  • Navigate interpersonal and team dynamics, with comfort and experience managing conflict and difficult conversations

What you bring to the table:

  • 8+ years of work experience, with at least 5+ years in an inventory planning or forecasting role
  • Bachelor’s degree in Math, Finance, Accounting, Business, or Statistics preferred
  • Ability to work with autonomy
  • A passion for drawing insights from data
  • Excellent business acumen
  • Comfort with ambiguity
  • Strong Excel skills
  • Exceptional communication skills, including the ability to partner with and influence internal partners and external vendors
  • Strong attention to detail when identifying data relationships, trends, and anomalies
  • Proficiency in retail math and experience managing a traditional open-to-buy
  • Creative problem solver
  • Ability to take initiative and deliver tangible results within deadlines
  • Ability to take direction from several individuals and be self-directed
  • Experience in retail or e-commerce strongly preferred
  • Experience with direct vendor negotiation preferred

About Us: Balsam Brands is a global, eCommerce retailer with roots in holiday and home décor. We strive for excellence in everything we do and present a unique opportunity for those seeking to have a meaningful impact in a people-first company that values relationship building, authenticity, and doing the right thing. We have steadily growing teams in Boise, the Bay Area, Dublin, and the Philippines.

The company's mission is to create joy together. We empower our team and partners to love what they do, provide products and experiences that inspire meaningful moments with family and friends, and give back to our families and communities in impactful ways. When you join Balsam Brands, you'll find a culture of caring people doing challenging work and building a welcoming workplace.

At Balsam Brands, we strive to offer a competitive compensation and benefits package. For permanent, full-time team members, our current package includes:

  • Competitive compensation, including a cash-based incentive plan; salary is reviewed yearly and may be adjusted as part of the normal compensation review process
  • Comprehensive Medical, Dental, and Vision coverage, with 100% of monthly premiums covered for team members, and 85%+ employer-paid premiums for other coverage tiers that include dependents
  • Up to $2,000 annual funding toward HSA accounts
  • Medical, transit, dependent care FSA
  • Infertility coverage offered on all medical plans
  • Generous parental leave program and flexible return options
  • Company-paid life and AD&D insurance
  • Company-paid short and long-term disability insurance
  • 401(k) with dollar-for-dollar company match up to $4,000 per calendar year
  • Employee Assistance Program (EAP) and other mental health and wellness perks
  • Paid holidays, annual shutdown week, PTO, and volunteer time-off (VTO) packages
  • Paid 5-week sabbatical leave after 10 years of employment
  • Annual continuous learning benefit up to $1,000 per person, per fiscal year
  • Up to $300 flexible reimbursement to support setup of new team member's work-from-home environment
  • Generous team member merchandise discount
  • Valuable extras: identity theft protection, subsidized parking, monthly wellness, pet insurance, accident & critical illness insurance

The base pay range for this position is: $138,000-$156,000. Where an individual falls within that range will vary based on several factors including geographic location and may vary depending on candidate qualifications and experience, applicable skills, and other job-related factors. We benchmark our pay ranges against current external data sources and regularly review compensation for our team members. Balsam Brands is committed to providing our team members with an internally fair, externally competitive, and fiscally prudent total compensation package administered in a simple and consistent manner.

At Balsam Brands, we strive to build a diverse, equitable, and inclusive team to fulfill our purpose to create joy together. Balsam Brands is proud to be an equal opportunity employer. We encourage people from all backgrounds, ages, abilities, and experiences to apply. We do not discriminate on the basis of race, ethnicity, religion, national origin, citizenship, marital or family status, disability, sexual orientation, gender identity or expression, pregnancy or caregiver status, veteran status, or any other legally protected status. We will ensure that individuals with disabilities are provided reasonable accommodations to participate in the job application and interview process, to perform essential job functions, and to receive other benefits and privileges of employment.

#LI-Hybrid

Additional Information

All your information will be kept confidential according to EEO guidelines.

Average salary estimate

$147000 / YEARLY (est.)
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$138000K
$156000K

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What You Should Know About Lead Inventory Planner, Balsam Brands

Are you ready to step into a pivotal role as the Lead Inventory Planner at Balsam Brands, located in the vibrant Redwood City, CA? In this exciting position, you'll be at the helm of optimizing our inventory strategies for our fast-growing greenery and décor categories. Your mission will be to ensure we deliver an exceptional customer experience while maximizing sales and in-stock levels. Collaborating closely with our talented teams in Merchandising, E-commerce, Purchasing, and Operations will be key to your success. With your sharp analytical skills, you'll dive deep into historical data, uncover trends, and leverage insights to drive profitable growth. Not to mention, you’ll build and nurture strong relationships with our vendors to support our long-term ambitions. In this hybrid full-time role, you’ll enjoy a workplace that champions meaningful relationships and a culture of caring. With over 8 years of experience and a keen eye for details, you'll refine item-level sales plans and navigate the intricate inventory landscape with ease. If you're passionate about data and thrive in a collaborative environment, this could be the perfect opportunity for you. Join us at Balsam Brands, where we believe in creating joy together, empowering our teams, and making a meaningful impact in every project we tackle.

Frequently Asked Questions (FAQs) for Lead Inventory Planner Role at Balsam Brands
What responsibilities does a Lead Inventory Planner have at Balsam Brands?

As a Lead Inventory Planner at Balsam Brands, your responsibilities include developing item-level sales plans, designing inventory strategies, and collaborating with cross-functional teams. You'll leverage historical data to enhance inventory management, ensure timely procurement, and regularly provide insights to management, impacting overall sales and customer experience.

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What qualifications are needed for the Lead Inventory Planner position at Balsam Brands?

To qualify for the Lead Inventory Planner role at Balsam Brands, candidates typically need a Bachelor’s degree in Math, Finance, or a related field, along with over 8 years of professional experience, including at least 5 years in inventory planning or forecasting. Strong Excel skills, excellent communication abilities, and a passion for data-driven insights are also essential.

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How does the Lead Inventory Planner collaborate with other teams at Balsam Brands?

Collaboration is key for the Lead Inventory Planner at Balsam Brands. You will work alongside teams in Merchandising, E-commerce, and Operations, among others, to develop inventory strategies and respond to the market effectively. This teamwork enhances decision-making and ensures alignment with the company's sales goals.

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What skills are crucial for a successful Lead Inventory Planner at Balsam Brands?

Success as a Lead Inventory Planner at Balsam Brands hinges on strong analytical skills, attention to detail, and the ability to draw meaningful insights from data. You should also possess exceptional communication skills to influence internal partners and enhance vendor relationships, alongside proficiency in retail math and experience managing open-to-buy.

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What is the work culture like for a Lead Inventory Planner at Balsam Brands?

The work culture at Balsam Brands is centered around collaboration and care. As a Lead Inventory Planner, you would be part of a welcoming team that values authenticity and impactful relationships, where creativity and problem-solving are encouraged. The hybrid work model also offers flexibility while maintaining regular in-office interactions.

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Common Interview Questions for Lead Inventory Planner
Can you describe your experience with inventory management?

In your answer, highlight specific roles you've held in inventory management, key achievements, and how you successfully navigated challenges. Explain your approach to creating inventory strategies, using data, and working cross-functionally.

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How do you ensure that your inventory planning aligns with a company's financial goals?

Discuss methods such as forecasting, monitoring sales trends, and adjusting stock levels accordingly. Provide examples of financial goals you've aligned with in past roles and how you tracked success.

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What strategies do you use for effective vendor management?

Speak to your approach in building strong vendor relationships, negotiating terms, and communicating effectively. You might mention using KPIs to assess vendor performance and how you resolve conflicts.

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How do you handle unexpected inventory shortages?

Explain your problem-solving process, including how you would assess the situation, communicate with relevant teams and vendors, and implement a plan to mitigate timelines without compromising customer satisfaction.

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Can you give an example of how you used data to drive inventory decisions?

Share a specific scenario where you analyzed data trends to influence inventory planning. Highlight the tools you used, your decision-making process, and the results of your analysis.

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Describe a time when you had to manage conflict within a team.

Discuss the context of the conflict, your role in resolving it, and the outcome. Emphasize your communication skills and ability to foster a positive team dynamic.

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What is your approach to creating sales plans?

Outline your process for developing sales plans, including research, collaboration with stakeholders, and using historical data to inform your recommendations.

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How do you prioritize tasks in a demanding inventory planning role?

Explain the criteria you use to prioritize your tasks, such as deadlines, impact on sales, and resource allocation. Share techniques that help you stay organized and efficient.

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What retail math concepts are you familiar with?

Mention key concepts such as inventory turnover, open-to-buy, margin calculations, and how you utilize these in your planning processes. Provide examples of how you’ve applied them in your previous roles.

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What excites you about working for Balsam Brands as a Lead Inventory Planner?

Articulate what attracted you to the position. Whether it’s the company’s mission, culture, or the opportunity to make a significant impact, make sure to tie your motivations to the values and goals of Balsam Brands.

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Balsam Brands is a multi-brand eCommerce retailer with roots in holiday and home décor. We strive for excellence in everything we do and present a unique opportunity to those who are seeking to have a meaningful impact in a fast-paced, high-energy...

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Full-time, hybrid
DATE POSTED
December 18, 2024

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