Inventory Executive

Job Description

Role & responsibilities

Inventory Planning:

• Develop and implement inventory strategies to align with overall business goals and customer demand

Forecasting:

• Utilize demand forecasting techniques and tools to predict future demand for products.
• Analyze historical data, market trends, and other relevant factors to improve the accuracy of demand forecasts.

Stock Replenishment:

• Establish reorder points and reorder quantities to maintain sufficient stock levels.
• Monitor inventory levels and trigger replenishment orders as needed to prevent stock outs or overstock situations

Inventory Turnover:

• Monitor and manage inventory turnover ratios to optimize cash flow and minimize carrying costs.
• Identify slow-moving or obsolete inventory and implement strategies to address these issues.

Risk Management:

• Identify and mitigate risks related to inventory, such as stock outs, overstocks, and supply chain disruptions.
• Implement safety stock policies to buffer against unexpected fluctuations in demand or supply.

Obsolete Inventory Management:

• Develop strategies for handling obsolete or excess inventory, including markdowns, returns, or liquidation.
• Minimize the financial impact of obsolete inventory through effective planning and liquidation processes.

Reporting and Analysis:

• Generate regular reports on key inventory metrics and performance indicators.
• Analyze data to identify trends, areas for improvement, and opportunities to optimize inventory management processes.

Continuous Improvement:

• Continuously evaluate and improve inventory management processes and procedures.
• Stay informed about industry best practices and emerging technologies to enhance efficiency.

Collaboration with Cross-functional Teams:

• Work closely with other departments, such as procurement and sales, to ensure a coordinated approach to inventory management.
• Communicate effectively with various stakeholders to share information on inventory status and performance.

Preferred candidate profile

With Supply chain and Inventory background

Job Detail:

Employer Contact Details: Show Info

Share :