Merchandise Manager

Rate is one of the nation’s top retail mortgage lenders, delivering a seamless, tech-driven experience that helps customers reach their homeownership and financial goals. Founded in 2000 and based in Chicago, Rate is licensed in all 50 states and D.C. and has helped over 2 million homeowners with a wide range of loan products, competitive rates and personalized service. With 5,000+ employees across 300+ offices and 12+ subsidiaries, Rate’s Loan Officers rank among the best in the country. From purchases and refinances to tapping into equity, Rate makes financing faster, simpler and less stressful. Our technology — including Same Day Mortgage, the Rate App, FlashClose, MyAccount and the Language Access Program — has earned recognition from HousingWire, Scotsman Guide, NerdWallet, the Chicago Tribune and Crain’s Chicago Business. Learn more at rate.com.

In Office -Location M-F: 3940 N. Ravenswood Ave, Chicago, IL 60613

Position Overview:

We are seeking a Senior Manager, Corporate Promo Store & Strategic Sourcing to take full ownership of our internal Corporate Promo Store and operate it as a disciplined, data-driven and profitable business unit.

This role requires a hands-on business operator with strong experience in strategic sourcing, direct manufacturing, vendor negotiations, product costing, inventory management and merchandising.

The ideal candidate will think like an owner understanding what is selling, what is sitting, where we are overpaying, where margins can improve and what actions should be taken to drive stronger financial performance.

Key Responsibilities:

• Own the Corporate Promo Store end-to-end, with accountability for profitability, margins, inventory performance and cost control.
• Identify and develop relationships with direct manufacturers, factories and strategic suppliers domestically and internationally.
• Negotiate product costs, MOQs, payment terms, production timelines and other commercial terms.
• Continuously benchmark vendor and factory pricing to identify opportunities to reduce costs and improve margins.
• Manage product costing and maintain visibility into landed costs and profitability by SKU and category.
• Oversee purchasing and ensure buying decisions are supported by sales, inventory and demand data.
• Develop and maintain Sold vs. Sitting analysis to identify best sellers, slow-moving products, aging inventory and excess stock.
• Improve inventory turns and establish purchasing discipline to prevent unnecessary or excessive inventory.
• Evaluate product performance and recommend what should be reordered, reduced, discontinued or added to the assortment.
• Manage vendor performance across cost, quality, delivery and service.
• Coordinate with internal teams, vendors and fulfillment partners to ensure efficient operations and timely delivery.
• Identify operational inefficiencies and proactively implement improvements.
• Provide leadership with clear reporting on sales, margins, inventory, product performance, vendor costs and cost-saving opportunities.
• Translate reporting into actionable recommendations—not simply present the numbers.

Qualifications:

• 5+ years of experience in strategic sourcing, procurement, merchandising, promotional products, retail operations, consumer products or a related field.
• Demonstrated experience working directly with manufacturers, factories and suppliers.
• Strong understanding of product costing, gross margins, purchasing and inventory management.
• Proven vendor negotiation and cost-reduction experience.
• Strong analytical and financial acumen with the ability to translate data into business decisions.
• Experience managing merchandise or inventory performance.
• Strong organizational, communication and cross-functional leadership skills.
• Entrepreneurial mindset with a high degree of accountability, initiative and ownership.

Rate is an Equal Opportunity Employer that welcomes and encourages all applicants to apply regardless of age, race, sex, religion, color, national origin, disability, veteran status, sexual orientation, gender identity and/or expression, marital or parental status, ancestry, citizenship status, pregnancy or other reason protected by law.

The company offers a comprehensive benefits program to eligible employees, including

• company-sponsored 401(k)
• vacation benefits
• eligibility for medical, dental, vision, and prescription drug benefits
• flexible benefits (e.g., healthcare and/or dependent day care flexible spending accounts)
• life insurance and death benefits
• critical care insurance
• personal accidental insurance
• commuter benefits
• pet insurance
• certain time off and leave of absence benefits
• well-being benefits (e.g., employee assistance program)
• other supplemental benefits (e.g. legal planning assistance; identity theft protection; pet insurance; wellness resources)