HR Manager at Industrybuying
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Industrybuying.com - Team Lead - Inventory Planning & Procurement (4-8 yrs)
Team Lead - Inventory Planning and Procurement
1. Order Management: Generate and process purchase orders to replenish stock, ensuring timely and accurate deliveries from suppliers while considering lead times and shipping constraints.
2. Vendor Management: Collaborate with suppliers and negotiate terms to secure favorable pricing, discounts, and efficient order fulfilment to optimize inventory costs.
3. Inventory Optimization: Continuously monitor inventory performance metrics such as turnover ratio, days on hand, and excess stock levels. Implement strategies to reduce deadstock and increase inventory turnover.
4. Supply Chain Efficiency: Identify opportunities to improve supply chain processes, including transportation, warehousing, and order fulfilment, to enhance inventory management effectiveness.
5. Reporting and Analysis: Prepare regular inventory reports and present insights to management, highlighting key performance indicators and recommending action plans for improvement.
6. Technology Utilization: Leverage inventory management software and tools to streamline processes, maintain accurate records, and optimize replenishment decisions.
7. Risk Management: Proactively identify potential inventory risks, such as stock shortages or supply chain disruptions, and implement contingency plans to mitigate their impact.
1. Education: Bachelor's degree in engineering Business Administration, Supply Chain Management, Logistics, or a related field. A Master's degree is advantageous.
2. Experience: Proven experience as an Inventory Manager or a similar role in procurement, with a track record of successfully managing inventory Reordering processes or handling similar products procurement.
3. Analytical Skills: Strong analytical and problem-solving abilities to interpret data, trends, and customer behaviour to make informed inventory decisions.
4. Communication: Excellent communication and interpersonal skills to collaborate effectively with cross-functional teams, vendors, and stakeholders.
5. Leadership: Demonstrated leadership skills to lead a team responsible for inventory replenishment(reordering).
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