The Inventory Controller is responsible for managing and maintaining optimal inventory levels, ensuring accuracy in inventory records, and implementing effective inventory control procedures. This role involves monitoring stock movements, analyzing inventory data, forecasting demand, and coordinating with various departments to streamline inventory management processes.
Key Responsibilities:
- Inventory Management:Maintain accurate inventory records and ensure the integrity of data.
Monitor stock levels and conduct regular physical inventory counts.
Track and manage inventory movements, including incoming and outgoing shipments.
- Demand Forecasting:Analyze historical sales data and market trends to forecast future inventory needs.
Collaborate with sales and production teams to develop accurate demand forecasts.
Adjust inventory levels based on changes in demand patterns.
- Supply Chain Coordination:Work with suppliers to ensure timely delivery of materials and products.
Negotiate terms and conditions with suppliers to optimize inventory costs.
Coordinate with logistics and warehouse teams to streamline inventory handling and storage.
- Inventory Optimization:Implement strategies to minimize excess inventory and reduce holding costs.
Identify and address slow-moving or obsolete inventory items.
Develop and maintain inventory turnover metrics to ensure efficient stock utilization.
- Data Analysis and Reporting:Generate and analyze inventory reports to provide insights and recommendations.
Monitor key performance indicators (KPIs) related to inventory control.
Present regular updates and reports to management on inventory status and performance.
- Process Improvement:Develop and implement inventory control procedures and best practices.
Identify opportunities for process improvements and cost savings in inventory management.
Ensure compliance with company policies and regulatory requirements.
