Job Description
Job Summary
- The Inventory Lead oversees the inventory level of the company and the inventory officers towards the control and record tracking of new and existing stocks and finished products.
- They manage, onboard, negotiate prices with various suppliers/vendors, receive materials and manage the storage of materials and arrangement of finished products based on customers' requests to ensure smooth operations.
Responsibilities
- Oversee stock/inventory analysis and projections
- Create annual inventory budgets for financial planning and forecasts
- Oversee inventory management decisions in planning and buying.
- Manage vendor communication & relationships to influence supply negotiations and ensure specifications are met
- Ensure efficient reorder cycle process to avoid stock-outs
- Ensure adequate products storage and store/warehouse control
- Monitor productivity rates to improve inventory control processes for efficiency
- Ensure inventory unit processes/activities are cost-effective by vetting, negotiating and estimating costs to fit the company’s financial plans
- Develop and implement work instruction, SOPs for all departmental units and ensure adherence from all unit leads
- Oversee and ensure accurate departmental data analysis, collation and documentation to ensure timely reports
- Ensure departmental/Inventory dashboards are utilized efficiently and make improvements where necessary
- Coaching and overseeing/supervising team leads in planning and coordinating unit processes/activities
- Liaise and manage communications/relationships with different units, departments and external parties (suppliers/vendors, partners, etc.)
- Work with the company’s management and team leads to implement the company's policies and goals in the department
- Motivate the team to foster cordial relationships and great teamwork in achieving the company’s objectives
- Review worker performance and identify training needs
- Mentor and train team on processes and personal improvement to build their skills in the key areas
Educational Qualifications
- HND or Degree in Business Administration, Inventory Management, Supply Chain, Finance or any related field
- Minimum of 3 years of experience working in a similar role in a production factory
- Solid knowledge of data analysis, inventory management software, and forecasting techniques
- Must have an analytical mind with strong attention to detail.
As the Inventory Lead, You'll need to exert:
- Exceptional communication, analytical and problem-solving skills
- Strong management and leadership skills
- Sound Numerical and negotiation skills
- Great administrative / organizational skills and a keen eye for details
- Thorough understanding of company products and logistics
- Resilience under pressure and against deadlines.