Inventory Control Executive

Job Summary:

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The Inventory Control Executive is responsible for managing and monitoring inventory levels, ensuring optimal stock availability, and minimizing discrepancies between physical inventory and system records. The primary role of an Inventory Control Executive is to maintain accurate inventory data, analyze stock trends, and forecast demand to support efficient supply chain operations. This position plays a critical role in preventing stockouts or overstocking, optimizing stock levels, and collaborating with other departments to meet the organization’s inventory needs.

Key Responsibilities:

• Monitor and manage stock levels to ensure adequate supply of products and raw materials without overstocking.
• Conduct regular inventory audits and reconciliations to maintain inventory accuracy and identify discrepancies between physical counts and system records.
• Analyze inventory data to identify trends, optimize stock levels, and prevent stockouts or overstock situations.
• Collaborate with purchasing and production teams to ensure timely replenishment of stock based on demand forecasts.
• Develop and implement inventory control procedures and best practices to streamline operations and improve stock accuracy.
• Forecast demand based on historical data, market trends, and sales projections to adjust inventory levels accordingly.
• Coordinate with warehouse teams to ensure accurate and timely updates to the inventory management system following stock movements.
• Address and resolve inventory discrepancies, identify root causes, and implement corrective measures to prevent recurrence.
• Assist in managing safety stock levels, balancing inventory availability with cost-efficiency objectives.
• Stay informed on industry developments, emerging technologies, and inventory management techniques to continuously improve processes.
• Generate detailed inventory reports for management, including stock levels, stock valuation, slow-moving inventory, and wastage analysis.
• Monitor the age of perishable inventory and implement strategies to minimize expired or obsolete stock.

Requirements:

• Diploma or a degree in logistics, supply chain management, or a related field is a plus.
• Proven experience in inventory management, stock control, or related roles.
• Strong analytical skills with the ability to interpret inventory data and make data-driven decisions.
• Familiarity with inventory management systems (IMS) and proficiency in inventory tracking software and tools.
• Proficiency in using advanced data analysis tools (e.g., Excel, Power BI, or other reporting software) for forecasting and inventory analysis.
• Excellent communication and collaboration skills to work with purchasing, production, and warehouse teams.
• Attention to detail and accuracy in inventory tracking and record-keeping.
• Problem-solving abilities to address stock discrepancies and optimize stock levels.
• Ability to work in a fast-paced environment, prioritize tasks, and meet deadlines.
• Knowledge of supply chain management principles, demand forecasting, and stock optimization strategies.
• Strong organizational skills to manage multiple inventory control processes simultaneously.