Tata 1mg - Manager - Audit & Loss Prevention

Manager - Audit & Loss Prevention

Job Summary:

- The Manager of Quality & Inventory Audit, Compliance, and Loss Prevention is responsible for overseeing and optimizing inventory accuracy, ensuring compliance with regulatory standards, and minimizing loss through effective risk management strategies.

- This role involves centrally leading audits, implementing quality control measures, and developing loss prevention programs to safeguard company from counterfeit products and recalls closures.

Key Responsibilities:

Quality & Inventory Audit:

- Develop and execute comprehensive inventory audit programs to ensure accuracy and minimize discrepancies.

- Analyze inventory data to identify trends, root causes of variances, and process improvements.

- Collaborate with cross functional teams to reconcile discrepancies and implement corrective actions.

Compliance Management:

- Ensure adherence to company policies, industry regulations, and legal requirements (e.g., ISO, FDA, FSSAI, GWP).

- Maintain documentation and records for audits, inspections, and compliance certifications.

- Lead internal and external compliance audits, addressing findings and implementing corrective measures.

Loss Prevention & Risk Mitigation:

- Develop and enforce loss prevention strategies to reduce shrinkage, theft, and operational waste.

- Identify framework to eliminate counterfeit products inwards

- Investigate inventory discrepancies, theft, or fraud incidents and recommend preventive measures.

- Train staff on loss prevention best practices and foster a culture of accountability.

Process Improvement & Reporting:

- Identify inefficiencies in inventory management and quality control processes, recommending automation or procedural enhancements.

- Generate reports on audit findings, compliance status, and loss prevention metrics for senior management.

Qualifications & Skills:

- Education: Bachelor's degree in Supply Chain Management, Business Administration, Quality Assurance, Pharma or related field.

- Experience: 5+ years in inventory control, quality auditing, compliance, or loss prevention, preferably in retail or manufacturing

- Technical Skills: Proficiency in Google sheets, slides, ERP systems, data analysis tools, and audit software.

- Soft Skills: Strong leadership, problem-solving, and communication skills; attention to detail; ability to work cross-functionally.

Work Environment:

- On-site corporate office.

- Occasional travel to multiple locations may be required.

Performance Metrics:

- Inventory accuracy rate (%)

- Reduction in shrinkage/loss (%)

- Compliance audit pass rates

- Process improvement initiatives implemented

- Counterfeit inward rate