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Key Responsibilities and Required Skills for Inventory Management Specialist

💰 $50,000 - $75,000

Supply ChainInventoryLogisticsOperations

🎯 Role Definition

The Inventory Management Specialist is a tactical and analytical supply chain professional who ensures optimal stock levels, accurate inventory records, and efficient replenishment across channels. This role owns cycle counting and physical inventory programs, maintains inventory accuracy in ERP/WMS systems (SAP, Oracle, NetSuite, Microsoft Dynamics), partners with procurement, operations and logistics teams, analyzes demand and usage trends, and drives continuous improvement programs to reduce shrink, obsolescence and stockouts. The ideal candidate combines operational discipline, ERP expertise, strong Excel/SQL reporting skills, and a continuous improvement mindset to translate data into actionable inventory decisions.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Inventory Clerk / Stock Clerk
  • Warehouse Associate / Shipping & Receiving
  • Purchasing Assistant / Procurement Coordinator

Advancement To:

  • Inventory Control Supervisor / Manager
  • Supply Chain Planning Manager
  • Operations Manager / Logistics Manager

Lateral Moves:

  • Demand Planner
  • Procurement Specialist
  • Warehouse Supervisor

Core Responsibilities

Primary Functions

  • Own and execute the cycle count program and scheduled physical inventories across multiple sites, ensuring count variance targets are met and reconciling discrepancies in the ERP/WMS within established SLA timelines.
  • Maintain accurate SKU-level inventory records by investigating and resolving inventory adjustments, root-causing recurring variance issues and implementing corrective actions with operations and receiving teams.
  • Manage daily inventory replenishment and stock transfer activities, including generating pick-to-replenish orders, initiating transfers between warehouses, and coordinating expedited replenishment to prevent stockouts.
  • Analyze historical usage, sales velocity, lead time variability and seasonal demand to produce SKU-level reorder points, safety stock recommendations and optimization strategies that reduce carrying costs and service failures.
  • Configure and maintain inventory parameters in ERP/WMS systems (reorder points, safety stock, lead time, min/max, lot control, FIFO/LIFO settings) and partner with IT to improve system master data hygiene.
  • Lead root cause analyses for inventory discrepancies and process failures; develop and implement corrective and preventive actions (CAPAs) including SOP updates, training, and process redesign.
  • Prepare and deliver weekly and monthly inventory performance reports and dashboards (cycle count accuracy, shrinkage, days of inventory on hand, turns, fill rate) to senior supply chain and finance stakeholders.
  • Collaborate with procurement and demand planning teams to align supply plans with inventory objectives, coordinate supplier lead times, and participate in S&OP reviews to resolve supply/demand imbalances.
  • Manage vendor-managed inventory (VMI) and consignment relationships, including monitoring consignment stock levels, invoice reconciliation and supplier SLA performance.
  • Perform receiving audits and quarantine inspections for damaged, expired or nonconforming materials; coordinate disposition decisions with quality assurance and purchasing.
  • Implement and maintain bin and location management, slotting optimization and cycle count routes to improve pick accuracy and order fulfillment efficiency.
  • Drive shrinkage reduction and loss prevention initiatives by collaborating with security, warehouse leads and audit teams to close gaps in handling, storage and documentation.
  • Support new product introductions and SKU rationalization by analyzing SKU lifecycle metrics, carrying cost impact and warehousing implications to optimize SKU portfolio.
  • Liaise with logistics/carrier partners to prioritize inbound scheduling, dock management and cross-dock activities that impact inventory availability and timing.
  • Create and maintain inventory SOPs, process maps and training materials; deliver training to warehouse and inventory teams to standardize practices and improve compliance.
  • Execute month-end and quarter-end inventory reconciliations in partnership with accounting to support accurate financial reporting and inventory valuation adjustments.
  • Manage slow-moving, obsolete and excess inventory programs: define disposition strategies, coordinate returns, liquidation or scrap and calculate inventory write-downs in line with corporate policy.
  • Support cycle count automation and barcode/RFID deployments, including requirements gathering, UAT, training and post-implementation validation to improve count speed and accuracy.
  • Use advanced Excel, pivot tables, Power Query and basic SQL queries to extract and analyze transaction-level inventory data, identify trends and produce actionable recommendations.
  • Coordinate cross-functional problem solving with operations, procurement, quality and IT to implement process improvements (5S, Lean, Six Sigma) that positively impact inventory accuracy and throughput.
  • Maintain compliance with regulatory requirements for controlled or serialized inventory (lot tracking, expiration date management, traceability) and support recall readiness processes.
  • Monitor product labeling, SKU master data and packaging configurations to ensure warehouse processes and picking logic align with system definitions.

Secondary Functions

  • Support ad-hoc inventory reporting requests and exploratory data analysis to inform ad-hoc projects and management decisions.
  • Contribute to the organization's inventory optimization strategy and roadmap, including tools, automation and analytics use cases.
  • Collaborate with business units to translate inventory performance needs into ERP/WMS system requirements and process improvements.
  • Participate in project planning, UAT, and agile ceremonies for inventory and warehouse systems enhancements.
  • Assist finance and procurement with inventory forecasting inputs and variance explanations during audits and planning cycles.
  • Provide backup support for warehouse lead duties during peak periods, including supervising receiving, cycle counts and shipping functions.

Required Skills & Competencies

Hard Skills (Technical)

  • Inventory control and stock reconciliation expertise (cycle counts, physical inventory)
  • ERP/WMS proficiency (SAP MM/WM, Oracle Inventory, NetSuite, Microsoft Dynamics, Manhattan)
  • Warehouse management processes: slotting, bin management, replenishment, picking strategies
  • Demand forecasting fundamentals and reorder point/safety stock calculations
  • Advanced Excel (VLOOKUP/XLOOKUP, pivot tables, Power Query) and Excel-based modeling
  • SQL for inventory data extraction and basic analytics (joins, aggregations)
  • Experience with barcode/RFID systems, scanners and mobile warehouse devices
  • KPI reporting and dashboarding (turns, days of inventory, fill rate, shrinkage)
  • Knowledge of lot/serial traceability and expiry date management
  • Inventory valuation and month-end reconciliation practices (FIFO/LIFO, cost of goods)
  • Familiarity with Lean, 5S and continuous improvement methodologies
  • Experience with vendor-managed inventory (VMI) and supplier collaboration tools

Soft Skills

  • Strong analytical mindset with attention to detail and data-driven problem solving
  • Excellent communication and cross-functional stakeholder management
  • Organizational skills with the ability to prioritize in a fast-paced environment
  • Process-oriented, disciplined, and documentation-focused
  • Proactive collaboration and influence skills to drive corrective actions across teams
  • Adaptability and resilience during peak seasons and change initiatives
  • Time management and the ability to meet tight inventory and financial deadlines
  • Coaching and training abilities to upskill warehouse and inventory personnel

Education & Experience

Educational Background

Minimum Education:

  • High school diploma or GED with relevant inventory/warehouse experience

Preferred Education:

  • Associate's or Bachelor's degree in Supply Chain Management, Logistics, Business Administration, Operations Management or related field

Relevant Fields of Study:

  • Supply Chain Management
  • Logistics & Transportation
  • Business Administration
  • Operations Management
  • Industrial Engineering

Experience Requirements

Typical Experience Range:

  • 2–5 years of progressive inventory control, warehouse or supply chain experience

Preferred:

  • 3–5+ years in inventory management or inventory control roles, experience with ERP/WMS systems (SAP/Oracle/NetSuite), demonstrated success improving inventory accuracy and implementing cycle count programs. Experience in retail, manufacturing, distribution or e-commerce environments is highly desirable.
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