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Strategic Inventory Planner
2 months ago
Position Summary:
Reporting directly to the Vice President of Supply Chain, this pivotal role is responsible for guiding the demand and inventory planning processes in collaboration with various cross-functional teams. This position works closely with departments such as sales, marketing, product management, service, and finance to achieve the strategic objectives of the organization. The individual will develop a comprehensive inventory management strategy for the US distribution centers, aiming to meet a fill rate of 95% for the top 25 SKUs and 90% for all other products, while effectively managing aged inventory and optimizing overall working capital. This role is integral to the company's key goals of maintaining reliability as a supplier, enhancing ease of business interactions, and driving profitable revenue growth.
Key Responsibilities:
- Define and implement inventory management strategies, including inventory days and reorder points, ensuring alignment with company growth and financial objectives.
- Analyze historical and projected demand data, incorporating insights from sales and marketing to inform inventory planning.
- Understand market dynamics and demand influencers, leading the forecasting process to enhance accuracy and achieve stock availability targets.
- Ensure fulfillment of demand in a timely and complete manner, aligning order management processes with customer expectations.
- Collaborate with cross-functional teams on initiatives such as product launches and transitions, ensuring timely supply of products.
- Generate comprehensive reports detailing stock levels, production schedules, shipment timelines, and potential risks to support business expansion.
- Identify gaps in demand and supply, proactively addressing potential shortages and communicating with relevant stakeholders.
- Establish and communicate a structured stock transfer process to ensure accurate and timely inventory movements.
- Manage warehouse capacity in accordance with growth targets, planning for necessary expansions.
- Oversee warehousing costs and resolve discrepancies with third-party logistics providers.
- Conduct annual physical stock audits and address any discrepancies.
- Maintain accurate SKU-based estimated time of arrival (ETA) information and share with relevant parties.
- Collaborate with marketing, sales, and finance teams to develop strategies for managing obsolete stock.
- Monitor and report on key performance indicators such as inventory turnover, aged stock ratios, and on-time delivery metrics, driving continuous improvement initiatives.
Qualifications:
- Bachelor's Degree in Engineering, Supply Chain Management, Logistics, Business, or a related field; a Master's or MBA is preferred.
- A minimum of 5 years of experience in procurement, supply chain, and logistics is essential.
- Technical expertise in demand and inventory planning is required.
- Proficient in software applications that support supply chain functions, with a preference for experience in SAP-ERP.
- Advanced skills in Microsoft Office Suite, particularly Excel, Word, and PowerPoint.
- Strong analytical capabilities to assess costs, inventory levels, and other critical data.
- Exceptional organizational and planning skills to enhance efficiency across the supply chain.
- Proven decision-making and problem-solving abilities, with a focus on effective communication across teams.
- Ability to manage multiple priorities in a dynamic, fast-paced environment.
Employee Benefits:
- Comprehensive Health Care Plan (Medical, Dental & Vision).
- Retirement Savings Plan (401k, IRA).
- Life Insurance Options (Basic, Voluntary & AD&D).
- Generous Paid Time Off (Vacation, Sick Leave & Public Holidays).
- Short-Term and Long-Term Disability Coverage.
- Flexible Work Arrangements.