- Analyze inventory data to forecast demand accurately, ensuring optimal stock levels and minimizing excess inventory.
- Collaborate with procurement and sales teams to align inventory strategies with business objectives and market trends.
- Monitor inventory turnover rates and adjust purchasing strategies to improve efficiency and reduce carrying costs.
- Implement and maintain inventory management systems to track stock levels, orders, and deliveries effectively.
- Develop and manage inventory reports and dashboards to provide insights for decision-making to senior management.
- Conduct regular audits of inventory to ensure accuracy and compliance with company policies and procedures.
- Identify slow-moving or obsolete stock and develop action plans to mitigate potential losses.
- Establish and maintain strong relationships with suppliers to negotiate better terms and improve supply chain reliability.
- Support new product launches by coordinating inventory needs and stock availability with cross-functional teams.
- Train and mentor junior inventory staff to enhance team performance and foster a culture of continuous improvement.
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