What are the responsibilities and job description for the Inventory Manager position at W3Global Inc.?
Job Description
Job Description
The Inventory Manager plays a crucial role in overseeing and optimizing inventory operations to ensure the seamless flow of goods within the organization. This position is responsible for managing stock levels, implementing inventory control procedures, analyzing data to forecast future needs, and collaborating with other departments to meet operational goals. The Inventory Manager is essential in maintaining accuracy, minimizing costs, and ensuring that inventory practices align with company objectives.
Responsibilities
Inventory Planning and Management
Oversee daily inventory operations, including receiving, stocking, and tracking inventory levels.
Develop and implement strategies to optimize stock levels, ensuring availability while minimizing holding costs.
Conduct regular audits to maintain accuracy in inventory records and compliance with company standards.
Utilize inventory management systems to track and forecast inventory needs based on sales and operational demands.
Data Analysis and Forecasting
Analyze inventory trends and historical data to predict future inventory requirements.
Collaborate with sales, procurement, and operations teams to align inventory strategies with organizational goals.
Prepare detailed inventory reports, highlighting key metrics such as turnover rates, shortages, and cost implications.
Process Improvement and Efficiency
Identify opportunities for process improvements in inventory control and supply chain management.
Implement best practices to enhance efficiency, reduce waste, and ensure operational excellence.
Monitor inventory KPIs, including shrinkage rates, cycle counts, and reorder times, and take corrective action as needed.
Team Leadership and Collaboration
Lead and mentor a team of inventory specialists and warehouse staff.
Provide training on inventory procedures, system usage, and safety protocols.
Foster a culture of accountability, precision, and teamwork across all inventory functions.
Any other required by Management.
Regulatory Compliance and Safety
Ensure all inventory practices comply with company policies and regulatory standards.
Promote safety in the workplace, adhering to guidelines specific to the freezer warehouse environment.
KPIs (Key Performance Indicators)
Inventory Accuracy : Percentage of discrepancies found during cycle counts.
Stock Turnover Rate : Frequency of inventory replenishment within a given period.
Cost Efficiency : Inventory holding costs as a percentage of overall operational costs.
Shrinkage Rate : Percentage of inventory lost due to damage, theft, or mismanagement.
Qualifications
Education : Bachelor's degree in Supply Chain Management, Business Administration, or a related field.
Experience : 5 years of experience in inventory management, logistics, or supply chain operations, preferably in a cold storage environment.
Skills :
Proficiency in inventory management software and ERP systems.
Strong analytical and problem-solving skills.
Excellent organizational and multitasking abilities.
Effective communication and leadership skills.
Competencies
Detail-Oriented : Ability to maintain precision in tracking inventory levels and resolving discrepancies.
Analytical Thinking : Skilled in data analysis and decision-making based on trends and projections.
Process Optimization : A continuous improvement mindset to enhance operational efficiency.
Collaboration : Effective at working cross-functionally with other departments to meet organizational goals.
Adaptability : Resilient in addressing challenges in a dynamic operational environment.
Physical Demands and Work Environment :
Cold storage environment with temperatures ranging from -20°ree;F to 0°ree;F.
Occasionally required to walk.
Continually required to sit.
Continually required to talk or listen.
Continually utilize visual acuity to read technical information, and / or use a keyboard.
Occasionally required to work in a freezer warehouse environment.
