Inventory Manager job description
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What does a Inventory Manager do?
The Inventory Manager is crucial for maintaining optimal stock levels, minimizing inventory costs, and ensuring the accuracy of inventory records. This role supports operational efficiency and cost management by streamlining inventory control processes and collaborating with various departments.
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What are the Key Responsibilities of Inventory Manager
- Develop and implement inventory management strategies.
- Monitor inventory levels and forecast demand accurately.
- Oversee inventory audits and maintain accurate records.
- Collaborate with procurement and sales teams to align inventory needs.
- Optimize warehouse organization and product storage.
- Track and analyze inventory performance metrics.
- Manage relationships with suppliers and vendors.
- Ensure compliance with safety and regulatory standards.
What are the Skills and Requirements for a Inventory Manager?
- Strong analytical and organizational skills.
- Proficient in inventory management software such as SAP or Oracle.
- Excellent problem-solving capabilities.
- Strong communication and leadership skills.
- Attention to detail and accuracy.
What are the KPIs to track for Inventory Manager?
The Inventory Manager's performance is assessed by reduced stock discrepancies, efficient inventory turnover rates, and adherence to budgetary guidelines for inventory costs.
Inventory Accuracy
Maintain high accuracy levels in inventory records.
Inventory Turnover
Achieve targeted inventory turnover rates.
Cost Management
Keep inventory costs within the budget.
Reports to
Operations Director
Collaborates with
Procurement Team, Sales Team, Warehouse Staff
Leads
Inventory Coordinators, Warehouse Associates
Are any specific tools or software required for the Inventory Manager role?
- SAP
- Oracle
- Microsoft Excel
- Barcode Scanners
What is the qualification of Inventory Manager?
Bachelor's degree in Supply Chain Management, Logistics, or a related field, with 5+ years of experience in inventory management.
