Job Summary:
A Supply Chain Specialist focusing on Inventory Planning & Control oversees inventory levels to meet demand while minimizing costs, using forecasting, data analysis, and inventory management software to ensure accuracy and efficiency.
Duties and Responsibilities:
- Inventory Management:Monitor and control stock levels, ensuring the right amount of product is available to meet demand without excess or shortage.
- Demand Forecasting:Collaborate with sales and marketing to forecast future demand and integrate it into inventory plans and the business planning process.
- Data Analysis:Analyze inventory performance, identify trends, and use data-driven metrics to track key performance indicators (KPIs) like forecast accuracy and inventory turns.
- Inventory Control Strategies:Develop and implement strategies and procedures for maintaining inventory accuracy, integrity, and compliance.
- Supplier Coordination:Work with suppliers and manufacturers to ensure timely delivery of materials and finished products and to manage stock levels.
- Process Optimization:Identify inefficiencies in the supply chain and recommend or implement process improvements to enhance cost savings and efficiency.
- Cross-Functional Collaboration:Work with various departments, including sales, production, and logistics, to ensure alignment and smooth operations.
- Technology & Tools:Utilize and manage supply chain management software, ERP systems, and other tools to streamline processes and maintain accurate inventory records.
- Reporting:Generate and communicate inventory performance reports to stakeholders, including senior management, to support strategic decision-making.
QUALIFICATIONS:
- Bachelor's degree in Supply Chain Management, Logistics, Business Administration, or related field.
- 23 years of experience in inventory planning, supply chain, or demand planning in the retail industry.
- Effective communication, including writing, speaking, and interpersonal communication.
- Exceptional organizational skills with the ability to multi-task and prioritize.
- Understanding of end-to-end retail supply chain processes, including procurement, distribution, replenishment, and store operations.
- Knowledge of inventory types (e.g., safety stock, buffer stock), inventory costing, stock rotation (FIFO, LIFO), and best practices.
- Understanding of applicable laws, regulations, and internal policies related to inventory handling, data integrity, and audits.
- Hands-on experience with enterprise resource planning systems for inventory tracking, ordering, and reporting.
