An inventory manager’s job is to make sure that the company’s inventory systems are properly managed, and that any shortages are handled in a way that they do not affect the work of staff members. Since inventory managers need to be in constant contact with people from different departments, they do not have a choice but to possess exceptional communication and interpersonal skills.
Mostly, an inventory manager is considered eligible if he or she has a high school diploma or a GED. In some instances, he or she might be required to possess a degree in business. For an inventory manager to be truly successful at what he or she does, it is imperative to be organized and meticulous in his or her work. Working at this level means that you have to possess excellent knowledge of data analysis and forecasting methods so that you can determine inventory requirements of each department in a timely and accurate manner.
Typically, an inventory manager needs to possess excellent planning skills – planning an entire inventory system is a difficult and challenging thing to do, so it is imperative that you can do this. Some knowledge of shipment and warehouse work comes in handy when working at this position. Some typical duties of an inventory manager include:
• Meet departmental heads to determine their needs
• Create lists of supplies and equipment required for each department and determine if they are within the set budget
• Inspect levels if supplies and equipment and identify any shortages
• Create and maintain effective liaison with suppliers and vendors to ensure timely delivery of products
• Use software to monitor demand and ensure that it is properly filled at time
• Analyze existing inventory data to anticipate future needs and place orders to replenish stock in order to avoid inefficiencies
• Implement new inventory management systems to replace old and inefficient ones, in a bid to increase efficiency of demand and supply
• Collaborate with warehouse employees to ensure that business goals are properly met
• Interview, hire and train new employees to perform inventory management duties
• Receive and record new stock as it comes in and ensure that stock is properly and safely stored in designated areas
• Ascertain that each item is transported to the department from where procurement request has originated
• Evaluate current suppliers and vendors and search for new and more efficient / less expensive ones
• Prepare inventory documentation by accurately recording quality, quantity, type and style of each received product