From March 2015 until January 2016, I worked as a Product Manager for APMEX, the 42nd largest etailer in the world. I had two very popular product lines to manage. Just one of my SKU’s was a top 5 SKU for the company.
With that one SKU I created new inventory processes to reduce inventory mistakes from north of 5,000 to less than 10 on a monthly basis. This allowed us to stay in stock, and sell 65% more units in a Q2 to Q3 comparison.
I also took another very popular product line and grew it by 334% in less than 6 months. I did this by creating a frenzy around product launches using scarcity tactics and working with marketing and sales to come up with high quality assets that helped move product.
These new tactics resulted in growth from selling 3,141 units in the first 30 days of a launch to 10,485 units in the first 30 days of each a launch. Here is a chart that shows that improvement.
My Day to Day Task Included:
- Managing more than 400 active SKU’s
- Managing web display for these SKU’s
- Setting bid and ask prices for these SKU’s
- Make purchasing and selling decisions
- Working with Sales and Customer Service on a daily basis
- Reading data and projecting future sells
- Marking up data to pitch new ideas and promotions
- Writing in-depth recaps of product launches