Job Description
Position Summary
The Closeout Buyer is the driving force behind VMI's ability to deliver exceptional value to customers by sourcing deeply discounted, first-quality merchandise across 25+ diverse product categories—from home goods and electronics to seasonal items, lawn & garden equipment, and sporting goods.
This fast-paced role demands a unique combination of hunter mentality and attention to detail. You'll aggressively pursue deals by initiating contact with thousands of potential vendors each month through cold calls, targeted emails, and strategic networking. Success requires the ability to rapidly assess opportunities across different merchandise lines.
Once a promising opportunity is identified, company owners will set the offer pricing, which the Closeout Buyer will then present to the vendor and work diligently to close the deal. This process ensures that all offers align with VMI’s strategic goals and pricing standards.
Operating in a highly competitive environment where the majority of proposals don't convert to purchases, this position requires exceptional resilience, strong negotiation skills, and ability to handle frequent rejection. You'll need to juggle multiple deals, pivot quickly between different vendor conversations while maintaining meticulous record keeping in NetSuite. You'll leverage VMI's established vendor network while continuously searching for new vendors. This role is perfect for someone energized by challenge and motivated by performance-based compensation.
Responsibilities
Vendor Sourcing & Relationship Management
- Identify and contact prospective vendors through market research. Travel to trade shows for networking and sourcing new vendors (approximately 4 per year)
- Maintain relationships with established vendors through email, phone calls, and trade shows
Negotiation & Deal Execution
- Negotiate contract terms, pricing, and expectations with vendors
- Aggressively follow up to close deals or to conclude offers that do not materialize, while maintaining strong relationships for prospective future opportunities.
Cross Department Collaboration
- Coordinate with the warehouse team to manage delivery and logistics
- Work with the Buyer's Assistant to finalize transactions and with accounting to resolve vendor issues promptly
Data Entry
- Meticulously update the company's ERP system of record (NetSuite by Oracle) to track vendors, purchase orders, and transactions
Minimum Qualifications
- 3+ years of commission sales or buying experience
- Superb negotiation skills.
- Highly organized, capable of leveraging NetSuite by Oracle to efficiently track vendor data for seamless workflow management.
- Self-motivated, competitive, and results driven.
- Strong communicator; both verbal and written
- Ethical – Acting in accordance with VMI values and standards.
- Proficient in Microsoft Excel, Outlook, Word.
Preferred Qualifications
- Bachelor’s Degree
- Experience in general merchandise, variety retail, or multi-category buying strongly preferred
- Closeout Industry Experience
- Familiarity with CRM Databases, NetSuite preferred.
Compensation
- 100% Commission against a draw. Typical Range is $60k-100k+ per year, no commission cap.
The Company
Value Merchandise International (VMI) is an established closeout wholesaler that buys and sells extreme value general merchandise products. Since beginning business in 1997, VMI’s mission has been to provide first-quality closeout merchandise at sharply reduced prices to retail businesses, with maximum attention to service. Our experienced management team is committed to obtaining merchandise at steep discounts. We place strong emphasis on customer service. This enables retailers to compete favorably on highly recognizable products. VMI is searching for a highly ambitious Closeout Buyer to join our team.