Monitoring and maintaining optimal inventory levels to meet demand while minimizing excess stock.
Tracking stock movements, forecasting demand, and identifying potential shortages or overstock situations.
Implementing inventory control procedures and best practices.
Conducting regular inventory counts and audits to maintain accuracy.
Supplier Coordination:
Working with suppliers to ensure timely delivery of materials and products.
Negotiating with suppliers to secure favorable terms and pricing.
Maintaining strong relationships with suppliers and communicating effectively.
Record Keeping and Reporting:
Maintaining accurate records of inventory transactions, receipts, and shipments.
Utilizing inventory management software and ERP systems for data tracking and reporting.
Generating reports on inventory levels, stock movements, and other relevant metrics.
Process Improvement:
Identifying opportunities to streamline inventory management processes and improve efficiency.
Developing and implementing strategies to reduce costs and minimize waste.
Analyzing data to identify trends and areas for improvement.