Key Skills often required for this role include:

• Analytical and Problem-Solving Skills (to investigate and resolve discrepancies).
• Proficiency with Inventory Management Software (ERP, WMS) and Microsoft Excel.
• Strong Attention to Detail and organizational skills.
• Excellent Communication and ability to work with cross-functional teams.

 Core Inventory Management

• Maintaining Inventory Accuracy:
• Conducting regular cycle counts and periodic physical inventory audits (stock takes) to verify the physical stock matches the system records.
• Investigating and reconciling discrepancies (variances) between physical counts and the inventory management system (ERP/WMS) and identifying root causes.
• Ensuring all inventory movements (receipts, issues, transfers, returns) are accurately and timely recorded in the system.
• Stock Monitoring and Optimization:
• Monitoring current inventory levels daily and weekly to identify potential shortages (stockouts) or excess/obsolete stock (overstocking).
• Determining and maintaining optimal safety stock levels and reorder points to balance supply and demand.
• Ensuring proper stock rotation (e.g., using FIFO - First-In, First-Out) to prevent product expiration or obsolescence.

Planning, Forecasting, and Reporting

• Demand Planning and Forecasting:
• Analyzing historical sales data, seasonal trends, and current forecasts to predict future material/product requirements.
• Collaborating with sales and production teams to align inventory levels with business plans.
• Reporting and Analysis:
• Generating regular reports on key inventory metrics (e.g., inventory levels, turnover rate, stockout frequency, shrinkage, carrying costs).
• Presenting analysis and recommendations to management for improving inventory control and reducing costs.

Coordination and Process Improvement

• Supply Chain Coordination:
• Coordinating with the Purchasing/Procurement department to place timely orders and expedite shipments that are delayed.
• Liaising with the Warehouse/Logistics teams to optimize inventory storage, location, and flow within the facility.
• Communicating with suppliers regarding order status, delivery schedules, and quality issues.
• System and Procedure Management:
• Developing, implementing, and documenting standardized inventory control policies and procedures.
• Managing and maintaining the inventory data within the company's software system (e.g., ERP, WMS), ensuring data integrity.
• Identifying and recommending improvements to inventory processes to enhance efficiency and reduce operational costs

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