Inventory Manager

The Inventory Manager is responsible for managing and overseeing all inventory activities within the company. This includes monitoring stock levels, ensuring accurate inventory records, maintaining optimal inventory levels to meet operational needs, and minimizing surplus and shortages. The role involves developing and implementing efficient inventory control systems, coordinating with suppliers, and working closely with warehouse and purchasing teams.

Key Responsibilities:

Inventory Control:

• Manage inventory accuracy through regular stock audits and cycle counts.
• Ensure proper labeling, categorization, and tracking of all inventory items.
• Monitor inventory levels and forecast demand to ensure adequate stock without overstocking.

Stock Optimization:

• Maintain optimal inventory levels by analyzing stock usage trends, lead times, and seasonal fluctuations.
• Collaborate with purchasing and production departments to adjust stock levels based on project needs.
• Manage reordering processes to prevent stockouts or excess inventory.

Reporting and Analysis:

• Generate regular inventory reports for management, highlighting key performance indicators (KPIs) such as stock turnover, shrinkage, and order accuracy.
• Analyze stock discrepancies and identify root causes to implement corrective actions.
• Forecast future inventory needs based on historical data, market trends, and upcoming demand.

Supplier and Vendor Management:

• Coordinate with suppliers to ensure timely deliveries and resolve any supply chain issues.
• Negotiate terms with suppliers to ensure cost-effective procurement of inventory.
• Maintain strong relationships with suppliers and vendors to facilitate smooth inventory flow.

Team Leadership and Training:

• Lead and manage the inventory team, including warehouse staff responsible for receiving and stocking products.
• Train staff on inventory control procedures, software systems, and best practices.
• Ensure compliance with safety regulations and company policies regarding inventory management.

Technology and Systems Management:

• Utilize inventory management software to track inventory levels and update records in real-time.
• Implement new technologies and processes to improve the efficiency of inventory tracking and reporting.
• Work with IT teams to integrate inventory systems with other departments, such as accounting and production.

Qualifications:

• Proven experience (3-5 years) in inventory management, supply chain, or related roles.
• Strong analytical skills and experience using inventory management software (e.g., SAP, Oracle, QuickBooks).
• Excellent organizational and time management skills.
• Strong leadership and communication abilities.
• Proficiency in Microsoft Office, especially Excel for reporting and data analysis.

Desired Skills:

• Familiarity with Just-In-Time (JIT), Lean inventory principles, and other inventory management techniques.
• Knowledge of warehouse management systems (WMS) and enterprise resource planning (ERP) systems.
• Experience working in industries with complex inventory systems (e.g., manufacturing, retail, e-commerce).