Director of Inventory Management
Full time @Vast auto Distribution posted 3 days ago in Accounting / Finance Shortlist Email JobJob Detail
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Job ID 12456
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Experience Less Than 1 Year
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Qualifications Degree Bachelor
Job Description
Inventory Strategy Development:
Lead the development and implementation of an overall inventory management strategy, ensuring alignment with company goals.
Set and monitor key performance indicators (KPIs) for inventory turnover, stockouts, and obsolescence, driving continuous improvement.
Establish inventory forecasting models and methodologies to anticipate future demand accurately.
Inventory Control & Optimization:
Oversee daily inventory management operations, ensuring efficient stock control and minimizing waste.
Ensure proper inventory systems are in place for tracking, controlling, and reconciling inventory across warehouses, distribution centers, and retail locations.
Develop and manage inventory policies and procedures to ensure compliance with industry standards, and internal guidelines.
Cross-functional Collaboration:
Work closely with purchasing, finance, and warehouse teams to maintain accurate, real-time visibility of inventory levels.
Collaborate with the IT department to leverage inventory management software while improving system integration and automation.
Act as a liaison between sales, procurement, and logistics teams to ensure inventory needs are aligned with customer demands and supply chain capabilities.
Inventory Analysis & Reporting:
Analyze inventory trends and performance metrics, providing detailed reports and insights to senior leadership.
Identify areas for improvement in inventory levels, turnover rates, and demand forecasting.
Conduct regular audits and cycle counts to ensure accuracy and consistency in inventory records.
Leadership & Team Development:
Lead, mentor, and develop the inventory management team, promoting a culture of accountability, collaboration, and continuous improvement.
Manage training, and performance evaluations for team members to ensure high levels of performance and professional growth.
Foster a team-oriented environment with strong communication across functions.
Vendor & Supplier Relationship Management:
Develop and maintain strong relationships with suppliers and third-party logistics providers, ensuring that inventory needs are met efficiently.
Collaborate with procurement to manage vendor performance, negotiate pricing, and optimize order quantities.
Risk Management & Compliance:
Develop and enforce policies that mitigate risk and ensure inventory is maintained in compliance with legal, safety, and environmental standards.
Manage inventory risks related to obsolescence, shrinkage, and damage, implementing corrective actions as needed.
Budgeting & Cost Control:
Oversee inventory-related budgeting, ensuring inventory levels are within approved financial guidelines and optimizing cash flow.
Monitor and control inventory costs, including storage, transportation, and handling fees, while ensuring service levels are not compromised.
Qualifications:
Have a bachelor’s degree in supply chain management, Business Administration, or a related field.
Have 10+ years of experience in inventory management, supply chain operations, or logistics, with at least 5 years in a leadership role.
Proven track record of optimizing inventory strategies in a fast-paced, high-volume environment ideally in the “aftermarket” sector.
Skills:
Strong analytical skills with the ability to analyze large data sets and derive actionable insights.
Expertise in inventory management systems Excellent leadership, communication, and interpersonal skills.
Strong understanding of demand forecasting, inventory optimization, and cost control.
Knowledge of regulatory requirements and the “aftermarket” industry best practices for inventory control is an asset.
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