The Inventory Manager plays a crucial role in minimizing costs, maximizing profits, and ensuring customer satisfaction through effective inventory management practices.
Key Responsibilities:
Inventory Planning:
Develop and implement inventory planning strategies to optimize stock levels based on demand forecasts, sales trends, and seasonality.
Collaborate with sales, marketing, and production teams to understand product demand and plan inventory accordingly.
Order Fulfillment:
Monitor and manage purchase orders to maintain optimal stock levels and prevent stockouts or overstock situations.
Coordinate with suppliers to ensure timely and accurate delivery of goods, negotiating terms and agreements as necessary.
Inventory Control:
Implement and enforce inventory control procedures to minimize shrinkage, damages, and theft.
Conduct regular cycle counts and reconcile discrepancies between system records and physical inventory.
Data Analysis and Reporting:
Utilize inventory management software and tools to analyze data, generate reports, and provide insights on inventory performance.
Present key performance indicators (KPIs) and recommend improvements to enhance efficiency.
Cross-functional Collaboration:
Collaborate with various departments including logistics, sales, finance, and production to ensure alignment of inventory strategies with overall business goals.
Provide input into the development of sales and operational planning processes.
Vendor Management:
Build and maintain strong relationships with suppliers and negotiate favorable terms for pricing, lead times, and order quantities.
Evaluate supplier performance and address any issues that may impact inventory management.
Continuous Improvement:
Identify opportunities for process improvement in inventory management and implement best practices to enhance efficiency.
Stay abreast of industry trends and technological advancements to drive innovation in inventory management processes.
Compliance:
Ensure compliance with relevant regulations and industry standards related to inventory management.
Stay informed about changes in laws and regulations affecting inventory control.
Requirements
Bachelor's degree in Supply Chain Management, Business Administration, or a related field.
Proven experience as an Inventory Manager or in a similar role within the FMCG sector.
Strong analytical and problem-solving skills.
Excellent organizational and time-management abilities.
Proficient in the use of inventory management software and Microsoft Office Suite.
Effective communication and interpersonal skills.
Ability to work collaboratively in a fast-paced environment.