Develop and execute strategies to manage inventory, ensuring efficient utilization and minimizing financial impact.Collaborate with cross-functional teams, including procurement, sales, and operations, to identify and address inventory issues.Conduct regular analysis of inventory levels, demand patterns, and market trends to forecast potential inventory risks.Liaise with suppliers and negotiate return, disposal, or repurposing of inventory, ensuring compliance with company policies and regulations.Implement inventory optimization techniques, such as demand forecasting, safety stock management, and inventory classification, to minimize excess and obsolete inventory.Collaborate with internal stakeholders to identify root causes of excess and obsolete inventory and develop preventive measures to mitigate future occurrences.Develop and maintain key performance indicators (KPIs) to measure and track inventory management performance.Monitor and analyze inventory aging, obsolescence, and write-off trends, providing regular reports and recommendations to management.Stay updated with industry best practices, technological advancements, and regulatory requirements related to inventory management.Train and mentor junior supply chain staff on effective inventory management techniques.Experience & QualificationBachelor's degree in supply chain management, logistics, engineering, information technologies or a related field. Master's degree preferred.Proven experience of 5+ years as a Supply Chain Specialist or similar role, with a focus on inventory management.In-depth knowledge of inventory management principles, methodologies, and best practices.Strong analytical and problem-solving skills, with the ability to analyze complex data and identify trends and patterns.Proficiency in using inventory management software and data analysis tools.Excellent communication and interpersonal skills, with the ability to collaborate effectively with internal and external stakeholders.Ability to work under pressure, manage multiple priorities, and meet tight deadlines.Professional certifications such as Certified Supply Chain Professional (CSCP) or Certified Professional in Inventory Management (CPIM) is a plus.
