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Demand & Inventory Planning Manager

1 month ago

Vernon Hills, United States RICHARD WOLF MEDICAL INSTRUMENTS CORPORATION Full time
Job DescriptionJob Description

Responsible for coordination of entire planning process including accurately forecasting demand, material planning, production planning, sourcing, managing inventory levels, and optimizing the supply chain processes to ensure optimum product availability while minimizing costs. Driver of planning process design, RACI’s and facilitator of SIOP meetings, proposes and executes assigned approval rights. Leads all aspects of planning and scheduling of raw materials and finished goods to ensure production, sales, repair and repair exchange program (REP) commitments are fulfilled on time.

REQUIREMENTS AND RESPONSIBILITIES:

  • Analyzes inventory and sales data to identify trends, issues, and opportunities for improvement.
  • Develops demand forecasts, coordinates with production departments to align inventory levels with production schedules.
  • Completes regular analysis of commitments, demand, actual inventory, in-process, backorders, lead time, and adjust as required.
  • Supports creation of production schedules with at least 4 weeks outlook with the first 2 weeks firm. Production schedule should include clarity around resources, equipment, parts, documentation, validations, sequence and lead-time for appropriate planning and visibility to ensure manufacturing can deliver on their commitments.
  • Determines appropriate inventory levels and safety stock based on forecast and demand. Tracks and manages excess and obsolete inventory, minimizes scrap. Suggests inventory reduction targets.
  • Adjusts inventory minimums and maximums based on input from key stakeholders (SIOP group), sales history, and documented commitments from Sales & Marketing or management directives.
  • Obtains/maintains overview of realistic lead times and optimizes order quantities to reduce costs and improve efficiency.
  • Works closely with Purchasing to expedite materials with innate ability to assess risk vs reward against production/sales/repairs/REP commitments.
  • Identifies and implements process improvements to enhance supply chain efficiency and effectiveness.
  • Liaison between Manufacturing, Sales, Marketing, Regulatory, Costing & Pricing and Purchasing to ensure solid partnerships/relationships that influence and enhance results.
  • Leads or participates in cross-functional projects to improve overall business performance.
  • Communicates updates regularly with key stakeholders. (E.g. leadership, purchasing, production, sales, marketing, QA/QC, etc.).
  • Establishes direct contacts within RW GmbH and subsidiaries to ensure we are current with changes and requirements and schedule standing calls to verify requirements.
  • Reports on critical KPI’s (e.g. Measure and report on inventory accuracy, Inventory Turns, Inventory carrying cost reduction, On-time delivery based on planned commitments, On-Time delivery for drop-ins, Cost of inaccurate forecasting).
  • Provides quarterly plan/forecast to Sales & Marketing.
  • Partners with Purchasing and Quality Control on supplier issues.
  • Ensures sourced materials are not received with expired or short dated expiration dates.
  • Collaborates with Calculations to assess and make recommendations for improvements in regard to improving inventory accuracy and cycle count inventory management.
  • Coordinates field product inventory taking and its optimization, establishes rules for its distribution, e.g. maximum/minimum inventory levels, and its re-allocation.
  • Responsible for approval of T&E and Demo inventory request.

ADDITIONAL RESPONSIBILITIES:

  • Reports on sales and finance of sales, suppliers, and/or customers not meeting expected targets.
  • Coordinates cross-functional activities to reconcile variances and refine the forecast model to reflect updated sales and marketing assumptions.
  • Creates and drives continuous improvement of world-class demand planning and SIOP processes.
  • Measures, controls, and improves S&OP plan accuracy through clearly defined metrics.
  • Conducts regular inventory audits and reconciles discrepancies.
  • Implements inventory control procedures and policies.
  • Aware of and complies with the RWMIC Quality Manual and regulations & requirements as they apply to this job type/position.
  • Completes all planned Quality & Compliance training within the defined deadlines.
  • Stays updated with industry best practices and technological advancements in demand planning and inventory management.
  • Other duties as assigned by the Vice President.

QUALIFICATIONS:

  • Bachelor’s degree in Supply Chain Management, Business Administration, Logistics, or a related field required
  • 7-10 years of proven experience in demand planning, inventory management, and/or supply chain management
  • Proven track record of off-scratch design and establishment of SIOP process landscape and RACI’s in similar industries or similarly complex product portfolio
  • Excellent interpersonal and communication skills, with the ability to collaborate effectively with cross-functional teams at all levels
  • Ability to lead team projects and create new processes
  • Proficient in identifying issues and implementing solutions promptly
  • Ability to manage multiple tasks and priorities in a fast-paced environment, expert in prioritizing
  • Excellent PC skills and familiarity with all MS Office suite products
  • Experience with ERP systems, SAP preferred
  • Knowledge of lean manufacturing and just-in-time (JIT) inventory practices
  • Certification in supply chain management (e.g., APICS CSCP, CPIM) preferred
  • Experience with and understanding of cross-cultural differences and the ability to work within this environment is crucial for successful employment.
  • The following physical demands are required:
    • Stand/Sit/Walk 8 hours per day
  • RWMIC offers annual Immunizations for Hep B and Flu Shots to all RWMIC employees. RWMIC employees have the responsibility to themselves and the company to consider receiving these immunizations.
  • All RWMIC Employees have the responsibility to themselves and the company to work safely.


At Richard Wolf Medical Instruments Corporation (“RWMIC”), we are committed to maintaining an environment of Equal Opportunity and Affirmative Action. If you want to view our Affirmative Action Plan, it is available at our corporate location at 353 Corporate Woods Parkway, Vernon Hills, IL – Office of the US Head of Human Resources. This document may be reviewed with the AAP Officer upon request.