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Supply Chain Inventory Specialist
2 months ago
Job Overview
The role focuses on managing inventory dynamics to align with financial and merchandise objectives. This position involves a thorough analysis of business operations and the formulation of strategies aimed at enhancing sales, productivity, and overall profitability.
Key Responsibilities:
INVENTORY MANAGEMENT/SUPPLY CHAIN:
- Oversees the allocation of products to ensure profitability, inventory turnover, and customer satisfaction across designated areas.
Establishes optimal ratios for distribution center, store, and pipeline inventory for all products; adjusts replenishment parameters as necessary for all basic reorder items; guarantees that stock levels align with approved planograms and store dimensions.
Collaborates with the Forecast Analyst to assess and modify forecasting parameters for seasonal and/or promotional items.
Ensures that highlighted products are available at locations involved in promotional activities.
Evaluates the overall health of the supply chain when making business decisions; identifies and implements efficiencies within the supply chain.
Actively engages in Supplier/Merchant meetings to discuss supply chain opportunities, challenges, and successes, including collaboration on anticipated needs.
Proactively seeks cost-saving measures related to product distribution and collaborates with distribution and merchant teams for implementation.
Effectively communicates with both internal and external stakeholders to address inventory and supply chain concerns or opportunities.
Monitors aged inventory and identifies strategies to mitigate risks, providing actionable recommendations to merchants.
Continuously reviews and maintains replenishment metrics, including Planogram Accuracy, Non-Inventory Stock Causes, and other relevant metrics.
Utilizes allocation for seasonal, fashion, and promotional one-time purchases; ensures that inventory quantities and levels accurately reflect sales demand at the item location level.
BUSINESS ANALYSIS:
- Regularly monitors and assesses Open-to-Buy on a weekly basis; evaluates risks and recommends actions accordingly; prepares reports and actionable business analyses as required.
Identifies and addresses items that may negatively impact inventory and turnover due to poor performance; makes proactive recommendations and takes steps to reduce aged inventory while adhering to exit strategies.
ADDITIONAL RESPONSIBILITIES:
- Conducts store visits as necessary to assess merchandise presentation, stock assortments, and inventory levels.
Collaborates closely with store management to identify and capitalize on business opportunities.
Responsible for overseeing and developing subordinate staff as appropriate.
Performs other related duties as assigned.
Works under the guidance of a Senior Inventory Planner or Divisional Merchandise Manager of Planning. Operates independently within the framework of organizational policies, procedures, and regulations. Exercises independent judgment in routine and non-routine situations, consulting with supervisors on policy matters, deviations from standard procedures, or unusual circumstances. Performance is evaluated based on operational effectiveness, skill assessments, customer service, collaboration, teamwork, leadership, work quality, and established individual performance metrics.
The incumbent of this position is required to file a Financial Disclosure Report (OGE) Form 450, as mandated.
A total of 6 years of experience is required, which includes:
GENERAL EXPERIENCE: Three years of experience in professional, technical, or other responsible roles that provided knowledge of retail practices and demonstrated skills in retail merchandise planning, demand forecasting, inventory management, allocation or replenishment, supply chain optimization, financial planning, or financial analysis in collaboration with operational personnel; along with the ability to analyze issues and propose practical solutions using sound judgment.
OR SUBSTITUTE OF EDUCATION FOR EXPERIENCE: One year of academic study beyond high school may be substituted for nine months of experience, up to a maximum of a four-year bachelor's degree in business, merchandising, or a related field, or a combination of education and/or general experience.
AND SPECIALIZED EXPERIENCE: Three years of progressively responsible experience in merchandise planning and allocation, including: Procurement Replenishment practices, methods, and procedures; Development and management of an open-to-buy system; Creation and validation of seasonal financial plans and trends; Preparation of forecast inventory projections and development of strategies to maximize opportunities and mitigate risks; Monitoring and maintenance of sales, inventory levels, and stock turns; Review and analysis of sales, inventory, and profit trends; Proficiency in database/spreadsheet software applications; or similar responsible work that demonstrates knowledge and ability within one or more operational or merchandising areas of retail management.
Job
: Planning