What are the responsibilities and job description for the Inventory Asset Manager position at Rugby Architectural Building Products?
Summary:
The Inventory Asset Manager is responsible for the overall control and ongoing management of our key asset, inventory. The position will first analyze the makeup of our existing inventory, develop an action plan to reduce underperforming inventory (slow-moving, deadstock and excess) and then reorganize the purchasing process for the company to ensure we maintain higher turns, minimize future additions to deadstock and reduce pockets of excess inventory. This position will require travel, as needed. Potential for hybrid work environment.
Definitions:
- Deadstock—no sales in last 12 months
- Slow-moving—less than one turn per year
- Excess inventory—typically A & B items with more than 6 months on hand
Immediate Duties and Responsibilities:
- In conjunction with IT and Regional VPs, develop automated reports to accurately identify underperforming inventory—deadstock, slow-moving inventory and excess inventory.
- Ensure weekly automated reports are distributed to Regional VPs, Area Managers and Branch Managers so they have visibility to underperforming inventory identified by branch.
- Develop a strategy for the immediate disposition of deadstock and the reduction of slow-moving inventory.
- Develop and design specific action plans by Branch to reduce underperforming inventory.
- Branches with largest dollar amounts of underperforming inventory should be addressed first.
- Branches have varying inventory reserve amounts which impacts their options for disposal.
- Deadstock should be identified and disposed—must consult with Regional VPs to determine P&L impact and timing of certain disposals.
- Incentive programs should be developed to motivate actions—higher commissions, SPIFFS, sharing of margin dollars.
- Shifting inventory between branches where feasible—freight and handling are key considerations.
- Set specific inventory target levels (dollar totals) for each Branch based upon DOH to help provide concrete goals and guidelines for ongoing inventory management.
Future Duties & Responsibilities (After 3-6 Months):
Understand the current purchasing process- -there are varying processes and nuances at our various branches.
- Design and introduce an organized and controlled purchasing process we can implement to better manage future purchasing decisions.
- Determine if specific inventory product categories should be rolled up into a centralized purchasing scheme and if so, develop a plan to centralize this activity.
- Identify and document who should have purchasing responsibilities at the Branch level—we believe that too many individuals currently have purchasing authority and that this contributes to our high level of underperformance.
- Monitor, advise and manage inventory levels by branch – with the understanding that this will require accountability at the Branch level and active participation of the individual Branch Managers.
- Prepare a monthly progress report for Regional VPs of actions taken, track underperforming inventory levels and provide updates by branch of successes and further actions that are needed.
- Additional duties as assigned.
Skills Required:
- Inventory management experience
- Highly proficient in Microsoft Excel
- Competent in Microsoft office suite
- Excellent written and verbal communication skills
- Strong interpersonal skills
- Superb attention to detail and strong problem-solving skills
- Ability to manage multiple projects at a time
- Ability to work unsupervised
- Purchasing experience a plus
- Ability to travel to different branch locations as needed
What’s in It for You:
- Monday thru Friday; flexibility required
- Competitive Medical – Dental – Vision
- Short Term and Long-Term Disability
- Life Insurance
- 401(k) Traditional & Roth
- Paid Time Off
- Great TEAM environment
This is a safety sensitive position
