Director of Inventory Planning
MeUndies is a Los Angeles, CA-based underwear and loungewear company best known for its softer than soft basics. Founded in 2011, MeUndies disrupted the $110B underwear industry when it launched the first online underwear subscription. Through the years the brand has inspired a passionate community of undie-obsessed individuals with its bold, comfortable products.
Today MeUndies has sold more than nine million pairs of underwear and is profitable with double-digit YoY growth. It continues to redefine the subscription market by evolving the transactional subscription to a membership centered on community and its relationship with the brand.
The innovative direct-to-consumer brand offers multiple purchasing options including singles, packs, matching pairs and its monthly membership. It opened its first flagship store in Los Angeles in 2018.
With a growing company, comes a growing team full of innovative people. We’re looking for a Director of Inventory Planning to develop and lead the execution of merchandise financial plans including sales, margin, receipts and inventory. This position is responsible for developing strategies to maximize sales and profit while optimizing inventory. As Director, you will lead the seasonal merchandise planning process, utilizing historical data and current business trends to identify risks, opportunities, and recommend strategies for future growth.
What You’ll Do
- Develop, execute, and maintain merchandise financial and inventory plans while driving strategies to support the merchandising, marketing and financial objectives
- Develop financial objectives and guide the creation of quarterly Top-down/Bottom-up planning process
- Create, own and manage the Open-To-Buy process, and partner with Merchandising to recommend actions that drive sales and maximize gross margin
- Develop and execute strategies that achieve an optimal balance of supply vs. demand, including both forecast validation and replenishment strategies to achieve superior sales and inventory goals
- Monitor, analyze, and guide all pre and in season buys
- Own pre-season forecast and in season management of planning forecasts, all on order, and receipt flow to ensure that available inventory meets open to buy strategy and maximizes cash flow
- Achieve and maintain desired inventory levels across all product categories, while refining the receipt flow process to improve inventory turnover
- Drive seasonal hindsight process and guide the application of the learnings to future deliveries; react to current business trends for all product categories
- Drive, analyze and manage markdown process, promotional and exit strategy to effectively mitigate aged inventory
- Ensures excess inventories are reviewed with merchandising team; recommends specific SKUs to move to support goals
- Initiate analysis of historic and current trends, providing analytical support to merchandising team
- Communicate financial results, forecasts and action plans to the business on a weekly basis
- Develop planning team while fostering an environment that supports and rewards strong performance and professional growth
WHY WORK AT MEUNDIES?
It's more than a job.
We have focused on building a team of people that emulates all of our core values. We look for people who stay balanced, go further, build relationships, champion differences, and are humble. At MeUndies, we continue to maintain a stellar brand by working collaboratively and encouraging growth with learning opportunities. Not to mention, there is no such thing as a small achievement here - we celebrate it all!
We look at the necessities.
We offer competitive equity/salary packages which include targeted annual bonuses, plus generous parental leave, a 401k, awesome health benefits, and open time off (yeah, we said it). You’ll enjoy top-of-the-line hardware and software, and have access to an annual personal Learning & Development budget of $1,000!
We offer all the head turning office things.
We have endless office amenities but here are a few of the fan favorites - everybody gets access to an on-site gym & shower, endless snacks, cold brew on tap, and a cozy lounge completed with a Wii for epic Mario Kart tournaments. Plus there are plenty of dogs (to pet, not to take home).
We don’t forget the most important things.
There’s a robust 360 review process, regular pulse surveys, and a focus on open communication. We also have annual employee check-ins to reflect back on achievements and plan for career growth. We’re always rooting for you.
Plus those special extra things.
We keep things fun with frequent catered lunches, holiday parties, offsites, happy hours, and an annual retreat. You’ll get a sweet employee discount, as well as a monthly MeUndies membership to rebuild your underwear drawer with our top notch prints.