Inventory Manager

Description:

About the job

1. Inventory Management:

- Develop and implement inventory management strategies, policies, and procedures to ensure accurate stock levels and minimize stockouts and overstocks.

- Forecast future inventory needs based on sales trends, seasonality, and promotional activities.

- Monitor inventory levels and replenishment processes to maintain optimal stock levels while minimizing carrying costs.

2. Inventory Control and Accuracy:

- Implement inventory control procedures, such as cycle counting, stock audits, and reconciliation, to maintain accurate inventory records.

- Identify and resolve discrepancies between physical inventory and system records promptly.

- Investigate and analyze inventory discrepancies to identify root causes and implement corrective actions.

- Ensure compliance with inventory management best practices and regulatory requirements.

3. Demand Planning and Forecasting:

- Collaborate with the sales and merchandising teams to forecast demand for products based on historical data, market trends, and promotional activities.

- Monitor and analyze sales patterns and adjust inventory levels accordingly.

- Coordinate with suppliers to align production and delivery schedules with demand forecasts.

- Optimize inventory turnover by identifying slow-moving or obsolete inventory and taking appropriate actions.

4. Inventory Reporting and Analysis:

- Generate regular inventory reports, including stock status, turnover, and aging analysis.

- Analyze inventory data to identify trends, risks, and opportunities for improvement.

- Provide insights and recommendations to optimize inventory management, pricing, and product assortment.

- Collaborate with the finance team to ensure accurate valuation and reporting of inventory.

5. Cross-Functional Collaboration:

- Collaborate with the purchasing, sales, and operations teams to ensure alignment and coordination of inventory management activities.

- Work closely with the merchandising team to optimize product assortment and identify opportunities for product substitutions or discontinuations.

- Partner with the sales team to analyze product performance and adjust inventory levels accordingly.

- Liaise with the warehouse and logistics teams to coordinate inventory movements and optimize efficiency.