Inventory Manager

The Inventory Manager at NakedMD is responsible for overseeing all inventory-related activities to ensure the seamless operation of our spa locations. This role focuses on managing inventory levels, tracking product usage and costs, and ensuring accuracy in order fulfillment. The Inventory Manager must possess strong organizational skills, attention to detail, and a deep understanding of inventory control practices.

ESSENTIAL DUTIES AND RESPONSIBILITIES

The essential functions include, but are not limited to:

• Inventory Control: Implement and manage inventory control processes to monitor stock levels, track product and free sample usage, and minimize waste, optimizing cost-effectiveness through Boulevard or Dynamics 365 inventory systems.
• Reporting: Generate regular reports on purchasing metrics, cost savings, and vendor performance for senior management. 
• Order Fulfillment: Ensure timely and accurate fulfillment of all purchase orders for supplies, equipment, and products required for med spa operations.  
• Par Level Management: Establish and maintain optimal par levels for inventory to prevent stockouts while minimizing excess inventory, ensuring efficient resource allocation.
• Team Collaboration: Collaborate with cross-functional teams, including managers and clinical leadership, to understand their purchasing needs and ensure seamless operations.
• Inventory Audits: Conduct regular inventory audits to verify accuracy, assess discrepancies, and take corrective actions as needed.
• Inventory Training: Provide training to center staff on inventory management processes and best practices to maintain efficient inventory control.
• Quality Assurance: Ensure all purchases meet quality and safety standards, collaborating with relevant teams to address any quality issues.
• Budget Adherence: Develop and adhere to purchasing budgets, tracking expenses, and identifying cost variances for cost containment.
• Compliance: Stay current with industry regulations, certifications, and quality standards to ensure all purchases meet legal and safety requirements.

KPIs:

• Inventory Accuracy: Maintain a high level of accuracy in inventory counts and tracking.
• Order Timeliness: Ensure 100% on-time order fulfillment across all locations.
• Vendor Performance: Meet or exceed vendor relationship and performance goals, including cost efficiency and delivery accuracy.
• Cost Efficiency: Maintain optimal inventory costs through average costing analysis and strategic purchasing.

MINIMUM QUALIFICATIONS AND COMPETENCIES

Knowledge, skills and abilities need for this job:

• Experience: Proven experience in inventory management, logistics, or a similar role; experience in a spa, retail, or healthcare environment is a plus.
• Technical Skills: Proficiency in inventory management systems, Microsoft Excel, and other data analysis tools. Experience with Dynamics 365 preferred.
• Analytical Acumen: Proficiency in data analysis and interpretation to make informed purchasing decisions.
• Inventory Management: Skill in par level optimization, inventory control, and demand forecasting.
• Detail-Oriented: Exceptional attention to detail and a high level of accuracy in managing inventory, processing orders, and maintaining records.
• Vendor Relations: Excellent interpersonal skills for building and maintaining positive vendor relationships.
• Purchasing Expertise: In-depth knowledge of procurement processes, vendor management, and supply chain operations.  Group buying experience in multi-state businesses preferred.
• Quality Assurance: Understanding of quality standards and the ability to ensure product quality and safety.
• Communication: Effective communication skills to collaborate with cross-functional teams and present data and insights.
• Adaptability: Flexibility to adapt to changing market conditions and business needs.
• Regulatory Compliance: Knowledge of relevant industry regulations and standards to ensure compliance.