Inventory Manager

Way2testing; Patna; On-site; INR 400,000 - 600,000; Full time

Job summary

Way2testing in Patna, India is seeking an experienced Inventory Manager to oversee inventory levels across all branches. The role involves developing logistics strategies, conducting stock audits, and ensuring compliance with established policies.

The ideal candidate will have a solid background in inventory management, proven leadership skills, and the ability to optimize costs effectively. This position provides an opportunity to enhance inventory operations and collaborate with cross-functional teams.

Qualifications

• Proven experience in inventory management and logistics.
• Strong analytical skills with a focus on cost optimization.
• Excellent leadership and team supervision capabilities.

Responsibilities

• Monitor inventory levels and manage stock for multiple branches.
• Develop and implement logistics strategies.
• Conduct regular stock audits and ensure compliance with SOPs.
• Train and mentor inventory personnel.

Skills

Inventory management

Logistics planning

Cost optimization

Team supervision

Compliance adherence

Education

Bachelor's degree in Supply Chain Management or related field

Tools

Inventory management software

Job description

A. Inventory Management

1. Monitor and maintain inventory levels for all branches, ensuring dynamic control based on seasonal and non-seasonal demand.
2. Define and update Minimum and Maximum Stock Levels for branches and the organization.
3. Ensure accurate stock records in inventory management software.
4. Analyze and improve the Inventory Turnaround Ratio, minimizing idle stock and maintaining efficiency.

2. Space Planning & Warehouse Utilization

1. Strategize and implement proper space planning for warehouses to maximize utilization.
2. Ensure optimal layout designs for easy access, movement, and storage of inventory.

3. Forecasting & Procurement

1. Ensure timely Forecast of inventory needs based on sales trends and seasonal demand.
2. Timely filling and processing of Purchase Requisition Forms to avoid stockouts.

4. Damage Control & Cost Optimization

1. Identify, report, and address damaged, repairable, or NPA (Non-Performing Asset) products.
2. Develop strategies to minimize damages and operational inefficiencies.
3. Optimize costs related to inter-branch stock transfers, transportation, and warehouse operations.

6. Logistics Planning and Management

1. Develop and implement logistics strategies to streamline inbound and outbound stocks.
2. Monitor and control logistics cost, ensuring budget adherence and quality standards.
3. Analyse and forecast logistics requirements to align with business goals and Inventory levels.
4. Optimize routs, transportatation modes and delivery schedules for cost effective operations.

7. Audit & Reporting

1. Conduct regular stock audits at the Head Office and branches to ensure accuracy and accountability.
2. Perform Stich Audits to cross-verify inventory records and prevent discrepancies.
3. Prepare and present department MIS reports for management review.

8. Compliance & SOP Enforcement

1. Ensure adherence to company SOPs across all warehouses and branches.
2. Enforce policies and procedures to maintain inventory accuracy and prevent losses.
3. Track and close KPIs for Inventory Executives, Warehouse Incharge ensuring alignment with organizational goals.

9. trategic Planning & Development

1. Work closely with cross-functional teams to develop strategies for effective inventory management.
2. Stay updated with market trends and implement innovative solutions for inventory challenges.
3. Design contingency plans for stock emergencies like sudden demand spikes or supply chain disruptions.

10. Training and Team Supervision

1. Trained branch staff and warehouse personnel on inventory best practices, system usage and Inventory processes.
2. Provide regular guidance to the inventory team to ensure adherence to company policies.
3. Recruite, train and mentor inventory personel.

11. Represent the inventory department in management meetings and share progress, challenges, and recommendations.

12. Uphold Tent Studio’s core culture, values, and ethics in daily operations.

13. Stay updated with industry trends and implement innovative methods to enhance inventory management & operations.