Field Inventory Analyst

Terumo Cardiovascular Group; Franklin Township (NJ); On-site; USD 70,000 - 90,000; Full time

Job summary

A leading company in medical devices is seeking an Inventory Management professional in Franklin Township, NJ. This position involves ensuring compliance with inventory policies, analyzing product data, and collaborating with sales and operational teams. Ideal candidates will possess strong analytical skills, a relevant bachelor's degree, and at least five years of experience in inventory management or supply chain roles.

Qualifications

• Bachelor's degree required, ideally in finance.
• Minimum 5 years in inventory management or supply chain functions.

Responsibilities

• Manage inventory of Terumo products through sales and distribution channels.
• Collaborate with Sales Territory Managers to enforce inventory policies.
• Analyze product turnover to optimize stock rotation.

Skills

Analytical Aptitude

Communication Skills

Process Improvement

Creative Thinking

Teamwork

Time Management

Education

Bachelor's degree in a financial discipline

Tools

ERP systems

Logistical systems

Microsoft Office (Excel, Word, PowerPoint)

Job description

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Assist in the management of inventory of Terumo Interventional Systems (TIS), Terumo Canada (TMCI) and Terumo Aortic (TA) products through various sales and distribution channels, primarily Field and Consignment based. Ensure effective utilization of assets and compliance with terms of the agreements as well as compliance with policies and procedures. Analyze product turnover to determine optimal stock rotation to reduce losses from expiry and maximize ROI. Review operational processes and data to identify opportunities for improvement.

• Associate is responsible to follow requirements of TMC Quality System; including but not limited to requirements for traceability of product, recognizing customer complaints and the requirement to forward information to Quality Assurance.
• Participates to provide ideas, methods, or processes for improvement by unit/company performance.
• Assist with inventory covered by consignment agreements and field Inventory policy and ensure compliance within the terms of the agreements as well as effective utilization and tracking of Company assets.
• Collaborate with Sales Territory Managers to ensure consignment and field inventory policies are enforced. Resolve issues related to lost, damaged or expired consigned inventory.
• Performs cycle count programs for consigned and representative based inventories. Collaborate with Territory Managers and Finance to investigate and reconcile variances and document results.
• Manage and analyze inventory utilization and recommend par levels for existing and potential new inventory locations.
• Lead strategic analyses and inventory reporting to support business unit and corporate objectives.
• Provides data analysis for production planning and volume studies.
• Develop, analyze, interpret and act upon short, medium- and long-term forecast models.

Job Responsibilities (continued)

• Provide guidance and training on policies and procedures, both initial and continuous, to internal and external parties responsible for carrying inventory.
• Participate in continuous improvement projects.
• Develop relevant inventory performance metrics and measures and prepares detailed month-end reports for management.
• Ensure integrity of field inventory and consignment systems.
• Organizes and handles a variety of logistics issues in manufacturing/contract manufacturing environment.
• Additional responsibilities include but are not limited to supply chain services, inventory control, critical parts availability, material handling, import-export licensing, shipment of products, and third-party warehousing.
• Serve as liaison between sales and operations teams to develop concepts and coordinate product knowledge.
• Demonstrate a commitment to patient safety and product quality by maintaining compliance with all TMC Quality Systems requirements. This includes but is not limited to the prompt recognition and forwarding of customer complaints (i.e. adverse events, product performance reports, etc.) to Quality Assurance (QA), and by ensuring all promotional messaging (i.e. branding strategies, product claims, etc.) and materials (i.e. literature) discussed or presented to customers are clinically accurate and adhere to AdvaMed guidelines and TerumoâÂÂs policy on Interactions with Healthcare Professionals.
• Assists with other general accounting projects as needed. Perform other job-related duties as assigned.

Knowledge, Skills and Abilities (KSA)

• Strong analytical aptitude with the proven ability to analyze and interpret data.
• Previous exposure to and an understanding of the supply chain and logistics environment.
• Exceptional written and verbal communication skills and a natural inclination towards process improvement are imperative.
• Demonstrated creative thinking skills with emphasis on developing innovative solutions to complex problems. Must be able to identify and resolve problems with focus on prevention.
• Experience with field-based inventory, both consignment and representative based and associated processes in the medical device or pharmaceutical space.
• Must be able to handle a high volume of work in a fast-paced environment while performing work accurately under time constraints.
• Must be able to work in a team environment.
• Proficient working with Microsoft Office Professional (Excel, Word & PowerPoint).

Qualifications/ Background Experiences

• Requires a bachelors degree, preferably in a financial discipline, and a minimum of 5 years of experience in inventory management, inventory control or supply chain functions; or equivalent combination of education, training and experience.
• Experience with ERP systems, logistical systems and standard operating procedures are required.