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Inventory Management Coordinator

3 months ago

Cincinnati, United States PromoShop, Inc. Full time
Job DescriptionJob Description

Summary
The Inventory Analyst plays a critical role in optimizing inventory levels, ensuring accurate stock records, and maximizing efficiency in supply chain operations. The IA will utilize analytical skills, data interpretation, and inventory management software to maintain optimal inventory levels, minimize stockouts, and reduce excess inventory costs. The IA insights directly impact procurement strategies, warehouse operations, and overall business profitability.

Reports to
Director, eCommerce Department

Job Requirements

  • Experience in eCommerce role, inventory management, or online store sales position (2+ years a plus)
  • Experience in the promotional products industry preferred but not required
  • Certification as TAS/CAS/MAS preferred
  • Ability to adapt to change and perform in a fast-paced environment
  • Self-motivated individual
  • Excellent organizational, administrative, and follow up skills
  • Strong ability to multi-task
  • Hands-on attitude
  • Continuous improvement mentality & fearless problem solving skills
  • Proficient in Microsoft Office
  • Experience in Facilis/Syncore a plus

Responsibilities

Inventory Planning & Forecasting

  • Analyze historical sales data, market trends, and demand patterns to forecast future inventory needs.
  • Collaborate with Account teams and E-commerce group to accurately predict demand fluctuations and plan inventory accordingly.
  • Develop inventory replenishment strategies to maintain optimal stock levels while minimizing carrying costs.

Inventory Management

  • Monitor inventory levels across multiple stores and product categories.
  • Conduct regular inventory audits to ensure accuracy of stock records and reconcile discrepancies.
  • Implement inventory control measures to prevent stockouts, overstock situations, and shrinkage.
  • Optimize replenishment procurement strategies and practices to minimize inbound freight as a percentage of COGS while also driving incremental margin generated by balancing inventory levels with production cost price breaks.

Data Analysis & Reporting

  • Utilize inventory management software and data analysis tools to generate reports on inventory performance metrics such as turnover ratio, fill rate, and stock aging.
  • Identify trends, patterns, and anomalies in inventory data to provide actionable insights to management.
  • Prepare regular inventory reports and presentations for stakeholders, highlighting key findings and recommendations.

Supplier Management

  • Collaborate with suppliers to optimize lead times, order quantities, and delivery schedules.
  • Evaluate supplier performance based on factors such as on-time delivery, quality of goods, and order accuracy.
  • Negotiate pricing, terms, and contracts with suppliers to secure favorable agreements and minimize procurement costs.

Process Improvement

  • Continuously evaluate and refine inventory management processes to enhance efficiency and accuracy.
  • Identify opportunities for automation and system integration to streamline inventory workflows.
  • Implement best practices and standard operating procedures to ensure consistency and compliance with regulatory requirements.
Company DescriptionPromoShop is an experienced promotional merchandising and marketing services company that provides creative branded merchandise and custom premiums to our clients, large and small.

We focus our resources and energies on serving those companies that have entrusted us with the protection and promotion of their brands.

Minority-owned and certified.Company DescriptionPromoShop is an experienced promotional merchandising and marketing services company that provides creative branded merchandise and custom premiums to our clients, large and small.\r
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We focus our resources and energies on serving those companies that have entrusted us with the protection and promotion of their brands.\r
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Minority-owned and certified.