Inventory Optimization Specialist
2 days ago
Rural King Supply is seeking a highly skilled Inventory Optimization Specialist to join our team. As a key member of our supply chain department, you will play a crucial role in optimizing inventory levels and ensuring the availability of products across our retail channels.
Key Responsibilities- Support the monitoring and analysis of sales trends, inventory levels, and customer demand to identify patterns and assist in accurate demand forecasting.
- Assist in developing and implementing replenishment strategies to optimize inventory levels, minimize stockouts, and maximize sales.
- Collaborate with cross-functional teams, including merchandising, procurement, and supply chain, to ensure timely product replenishment and maintain appropriate stock levels.
- Assist in reviewing and adjusting inventory parameters, such as reorder points, lead times, and safety stock levels, based on demand forecasts and historical data.
- Contribute to regular inventory audits to identify discrepancies, analyze root causes, and support the implementation of corrective actions to improve accuracy and minimize shrinkage.
- Assist in maintaining effective communication channels with vendors and suppliers, monitoring their performance, and assisting in resolving any product availability or quality issues.
- Contribute to generating reports and providing insights on key performance metrics, including sales, inventory turnover, and forecast accuracy.
- Support ongoing evaluation and improvement of replenishment processes and systems to enhance efficiency and reduce costs.
- Stay updated on industry trends, market conditions, and emerging technologies to identify opportunities for process improvement and innovation.
- Assist in training and knowledge sharing with junior team members, fostering a culture of continuous learning within the team.
- At least 2 years of relevant experience and bachelor's degree or equivalent combination of experience and education.
- Basic understanding of supply chain principles, including demand forecasting, inventory control, and replenishment strategies.
- Strong understanding of retail business practices.
- Excellent negotiation and conflict resolution skills.
- Demonstrated ability to adapt in a fast-paced environment.
- Strong analytical and problem-solving skills.
- Excellent organizational skills and attention to detail.
- Proficiency with Microsoft Office Suite or related software.
- Proficiency with or the ability to quickly learn Oracle ERP System.
- Comfortable navigating computer systems and software to assist customers or manage activities.
- Excellent verbal and written interpersonal and communication skills.
- Excellent customer service skills.
The ideal candidate will be able to maintain a seated or standing position for extended durations, lift 15 pounds periodically, and navigate and access all facilities. Reasonable accommodations may be made to enable individuals with disabilities to perform essential job functions.
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