Inventory Manager

Job Title: Inventory Manager
Location: Bannerghatta
Job Summary: The Inventory Manager is responsible for overseeing and managing inventory levels, ensuring accurate stock control, and optimizing inventory processes. This role involves coordinating with various departments, analyzing inventory data, and implementing strategies to enhance inventory efficiency and accuracy.
Key Responsibilities:
1. Inventory Control:
o Monitor and manage inventory levels to meet business needs and reduce excess stock.
o Conduct regular inventory audits and reconcile discrepancies between physical counts and records.
o Develop and implement inventory control procedures to maintain accuracy and minimize loss.
2. Data Analysis & Reporting:
o Analyze inventory data to forecast demand, identify trends, and make informed decisions.
o Prepare and present regular inventory reports, including stock levels, turnover rates, and order statuses.
o Utilize inventory management software and systems to track and analyze stock data.
3. Procurement & Ordering:
o Collaborate with purchasing and procurement teams to place orders, manage supplier relationships, and ensure timely delivery of goods.
o Review and adjust inventory orders based on demand forecasts and seasonal fluctuations.
o Negotiate with suppliers to secure favorable terms and pricing.
4. Stock Optimization:
o Implement strategies to optimize stock levels and reduce carrying costs.
o Evaluate and adjust inventory processes to improve efficiency and accuracy.
o Develop and monitor key performance indicators (KPIs) related to inventory management.
5. Team Management:
o Supervise and train inventory staff, providing guidance and support to ensure effective performance.
o Coordinate with other departments (e.g., sales, logistics) to align inventory management with overall business goals.
6. Compliance & Safety:
o Ensure compliance with company policies, procedures, and regulatory requirements related to inventory management.
o Maintain a clean and organized inventory storage area, adhering to safety standards and practices.
Qualifications:
• Bachelor’s degree in Supply Chain Management, Business Administration, Logistics, or a related field.
• Proven experience (typically 3-5 years) in inventory management or a similar role.
• Strong knowledge of inventory management software and systems.
• Excellent analytical skills with the ability to interpret data and make data-driven decisions.
• Effective organizational and multitasking abilities.
• Strong communication and interpersonal skills.
• Ability to work under pressure and handle multiple priorities.
Preferred Skills:
• Certification in inventory management (e.g., APICS CPIM) is a plus.
• Experience with ERP systems and advanced inventory management tools.
• Familiarity with lean inventory practices and methodologies.