Manager, Inventory Control

6 months ago

Toronto, Canada Jacobs & Thompson Full time

THE ROLE:
As a Manager, Inventory Control, you will be responsible for overseeing all aspects of inventory management within the organization. Your role will involve developing and implementing strategies to optimize inventory levels, minimize carrying costs, and ensure the availability of materials and products to meet customer demand. You will also be tasked with analyzing inventory data, identifying areas for improvement, and implementing best practices to enhance efficiency and accuracy in inventory control processes.

JOB DESCRIPTION (FUNCTIONS & RESPONSIBILITIES)

1. Inventory Management:

- Develop and implement inventory control policies and procedures to ensure accurate tracking and management of inventory levels.
- Monitor inventory levels and stock movements to prevent stock outs, overstock situations, and obsolete inventory.
- Conduct regular inventory audits and cycle counts to verify inventory accuracy and reconcile discrepancies.
- Monitor finished goods inventory level for automotive clients.

2. Demand and Planning Forecasting:

- Collaborate with Account Management, Sales Operations, Customer Care, and Production teams to forecast demand for products and materials.
- Analyze historical sales data, market trends, and customer forecast to predict future demand accurately.
- Adjust inventory levels and reorder points based on demand forecasts to maintain optimal inventory levels.

3. Supplier Management:

- Liaise with suppliers to ensure timely delivery of materials and products to support production and customer requirements.
- Negotiate pricing, terms, and contracts with suppliers to optimize inventory costs and minimize lead time.
- Monitor supplier performance and address any issues related to quality, delivery, or service.

4. Inventory Optimization:

- Implement inventory optimization techniques such as economic order quantity (EOQ), and safety stock management.
- Identify opportunities to reduce excess inventory and carrying costs while maintaining service levels.
- Analyze inventory turnover ratios and other key performance indicators (KPI's) to assess inventory performance and identify areas for improvement.

5. Process Improvement:

- Continuously review and improve inventory control processes to enhance efficiency, accuracy, and responsiveness.
- Implement best practices and technologies to streamline inventory management.
- Collaborate with cross-functional teams to identify root cause analysis of inventory discrepancies and implement corrective actions.

**REQUIREMENTS**:

- Bachelor's degree in supply chain management, logistics, business administration, or a related field; advanced degree preferred.
- Proven experience in inventory management, supply chain management, or related roles, preferably in a manufacturing or distribution settings.
- Strong analytical skills with the ability to interpret data, analyze trends, and make data-driven decisions.
- Proficiency in inventory management software and systems; experience with ERP system such as SAP, Oracle, or similar platforms preferred.
- Excellent organizational and time management skills with the ability to prioritize tasks effectively.
- Effective communication and interpersonal skills with the ability to collaborate effectively with cross-functional teams.
- Knowledge of inventory control best practices, techniques, and methodologies.

The role of Manager, Inventory Control, is a vital for ensuring the efficient and effective management of inventory within the organization. By implementing strategies to optimize inventory levels, minimize costs, and enhance accuracy, you will contribute to improving operational efficiency and customer satisfaction. If you are a detail-oriented, analytical, and passionate about inventory management, this role offers an exciting opportunity to make a significant impact on the organization's success.

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