Supply Chain Specialist (Inventory Planning & Control)

Job description:

A Supply Chain Specialist focusing on Inventory Planning & Control oversees inventory levels to meet demand while minimizing costs, using forecasting, data analysis, and inventory management software to ensure accuracy and efficiency.

QUALIFICATIONS:

• Bachelor's degree in Supply Chain Management, Logistics, Business Administration, or related field.
• 2–3 years of experience in inventory planning, supply chain, or demand planning in the retail industry.
• Effective communication, including writing, speaking, and interpersonal communication.
• Exceptional organizational skills with the ability to multi-task and prioritize.
• Understanding of end-to-end retail supply chain processes, including procurement, distribution, replenishment, and store operations.
• Knowledge of inventory types (e.g., safety stock, buffer stock), inventory costing, stock rotation (FIFO, LIFO), and best practices.
• Understanding of applicable laws, regulations, and internal policies related to inventory handling, data integrity, and audits.
• Hands-on experience with enterprise resource planning systems for inventory tracking, ordering, and reporting.

Duties and Responsibilities:

• Inventory Management: Monitor and control stock levels, ensuring the right amount of product is available to meet demand without excess or shortage.
• Demand Forecasting: Collaborate with sales and marketing to forecast future demand and integrate it into inventory plans and the business planning process.
• Data Analysis: Analyze inventory performance, identify trends, and use data-driven metrics to track key performance indicators (KPIs) like forecast accuracy and inventory turns.
• Inventory Control Strategies: Develop and implement strategies and procedures for maintaining inventory accuracy, integrity, and compliance.
• Supplier Coordination: Work with suppliers and manufacturers to ensure timely delivery of materials and finished products and to manage stock levels.
• Process Optimization: Identify inefficiencies in the supply chain and recommend or implement process improvements to enhance cost savings and efficiency.
• Cross-Functional Collaboration: Work with various departments, including sales, production, and logistics, to ensure alignment and smooth operations.
• Technology & Tools: Utilize and manage supply chain management software, ERP systems, and other tools to streamline processes and maintain accurate inventory records.
• Reporting: Generate and communicate inventory performance reports to stakeholders, including senior management, to support strategic decision-making.