Inventory Manager job description
An Inventory Manager is a professional who oversees the inventory levels of businesses. They lead a team to receive and record new stock as it's delivered or shipped out by analyzing different suppliers, recording daily deliveries, and evaluating new shipments.
Inventory Manager responsibilities include:
- Devising ways to optimize inventory control procedures
- Inspecting the levels of business supplies and raw material to identify shortages
- Ensuring product stock is adequate for all distribution channels and can cover direct demand from customers
Job brief
We are looking for a competent Inventory Manager to monitor and report on the company’s inventory. Your job is important since the efficient handling of the company’s products and supplies is critical for the attainment of business goals.
A successful inventory manager is a reliable professional with excellent record-keeping abilities. They possess great attention to detail and a business mindset.
The goal is to ensure that all business operations have adequate material to achieve their objectives.
Responsibilities
- Devise ways to optimize inventory control procedures
- Inspect the levels of business supplies and raw material to identify shortages
- Ensure product stock is adequate for all distribution channels and can cover direct demand from customers
- Record daily deliveries and shipments to reconcile inventory
- Use software to monitor demand and document characteristics of inventory
- Place orders to replenish stock avoiding insufficiencies or excessive surplus
- Analyze data to anticipate future needs
- Evaluate suppliers to achieve cost-effective deals and maintain trust relationships
- Collaborate with warehouse employees and other staff to ensure business goals are met
- Report to upper management on stock levels, issues etc.
Requirements and skills
- Proven experience as inventory manager or similar position
- Excellent knowledge of data analysis and forecasting methods
- Working knowledge of inventory management software (e.g. ERP)
- Ability to accurately track inventory and create reports
- An analytical mind with strong math skills
- Excellent organizational and planning skills
- Outstanding communication and interpersonal abilities
- Reliable and trustworthy
- BSc/BA in business administration. logistics or relevant field;
- Relevant qualifications (e.g. CPIM) will be a plus
Frequently asked questions
What does an Inventory Manager do?
Inventory Managers oversee the ordering, storing, and distributing processes of an organization’s products. They control inventory flow by using protocols that help avoid loss mitigation when necessary so supplies can be tracked effectively while also analyzing how much stock should actually exist at any one time in order to prevent under-reporting or overcounting.
What are the duties and responsibilities of an Inventory Manager?
Inventory Managers are responsible for maintaining daily records of products and shipments to identify what needs to be ordered versus what is available in stock. They use inventory tracking software for inventory control procedures, review stock, document daily shipments and deliveries for inventory replenishment, and analyze suppliers to minimize costs.
What makes a good Inventory Manager?
A good Inventory Manager will have strong math skills, the ability to multitask, excellent organizational and communication skills, and attention to detail. On a daily basis, they know how to choose the right suppliers, maintain stock accessibility, and ensure new inventory is purchased with the right balance of avoiding the excess stock.
Who does an Inventory Manager work with?
Inventory Managers typically work with and oversee a large team of employees within a warehouse. They can supervise Inventory Clerks or Specialists along with additional warehouse employees. Inventory Managers report to a Production Manager, Inventory Director, or Planning Director.
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