Inventory Asset Manager

ZipRecruiter; West Valley City (UT); Hybrid; USD 70,000 - 90,000; Full time

Job summary

A leading company is seeking an Inventory Asset Manager to oversee inventory control and management. This role involves analyzing inventory performance, developing strategies to reduce excess stock, and implementing a controlled purchasing process. The position offers a hybrid work environment and requires travel as needed.

Benefits

Flexible working hours

Competitive Medical – Dental – Vision

Life Insurance

401(k) Traditional & Roth

Paid Time Off

Great TEAM environment

Qualifications

• Experience in inventory management and purchasing.
• Strong problem-solving and communication skills.

Responsibilities

• Analyze and manage inventory levels across branches.
• Develop strategies for reducing underperforming inventory.
• Prepare monthly progress reports for Regional VPs.

Skills

Inventory management experience

Microsoft Excel

Communication

Interpersonal skills

Problem-solving

Tools

Microsoft Office Suite

Job description

Job DescriptionJob Description

Summary:

The Inventory Asset Manager is responsible for the overall control and ongoing management of our key asset, inventory. The position will first analyze the makeup of our existing inventory, develop an action plan to reduce underperforming inventory (slow-moving, deadstock and excess) and then reorganize the purchasing process for the company to ensure we maintain higher turns, minimize future additions to deadstock and reduce pockets of excess inventory. This position will require travel, as needed. Potential for hybrid work environment.

Definitions:

• Deadstock—no sales in last 12 months
• Slow-moving—less than one turn per year
• Excess inventory—typically A & B items with more than 6 months on hand

Immediate Duties and Responsibilities:

• In conjunction with IT and Regional VPs, develop automated reports to accurately identify underperforming inventory—deadstock, slow-moving inventory and excess inventory.
• Ensure weekly automated reports are distributed to Regional VPs, Area Managers and Branch Managers so they have visibility to underperforming inventory identified by branch.
• Develop a strategy for the immediate disposition of deadstock and the reduction of slow-moving inventory.
• Develop and design specific action plans by Branch to reduce underperforming inventory.
  • Branches with largest dollar amounts of underperforming inventory should be addressed first.
  • Branches have varying inventory reserve amounts which impacts their options for disposal.
  • Deadstock should be identified and disposed—must consult with Regional VPs to determine P&L impact and timing of certain disposals.
  • Incentive programs should be developed to motivate actions—higher commissions, SPIFFS, sharing of margin dollars.
  • Shifting inventory between branches where feasible—freight and handling are key considerations.
• Set specific inventory target levels (dollar totals) for each Branch based upon DOH to help provide concrete goals and guidelines for ongoing inventory management.

Future Duties & Responsibilities (After 3-6 Months):

• Understand the current purchasing process---there are varying processes and nuances at our various branches.
• Design and introduce an organized and controlled purchasing process we can implement to better manage future purchasing decisions.
• Determine if specific inventory product categories should be rolled up into a centralized purchasing scheme and if so, develop a plan to centralize this activity.
• Identify and document who should have purchasing responsibilities at the Branch level—we believe that too many individuals currently have purchasing authority and that this contributes to our high level of underperformance.
• Monitor, advise and manage inventory levels by branch – with the understanding that this will require accountability at the Branch level and active participation of the individual Branch Managers.
• Prepare a monthly progress report for Regional VPs of actions taken, track underperforming inventory levels and provide updates by branch of successes and further actions that are needed.
• Additional duties as assigned.

Skills Required:

• Inventory management experience
• Highly proficient in Microsoft Excel
• Competent in Microsoft office suite
• Excellent written and verbal communication skills
• Strong interpersonal skills
• Superb attention to detail and strong problem-solving skills
• Ability to manage multiple projects at a time
• Ability to work unsupervised
• Purchasing experience a plus
• Ability to travel to different branch locations as needed

What’s in It for You:

• Monday thru Friday; flexibility required
• Competitive Medical – Dental – Vision
• Short Term and Long-Term
• Life Insurance
• 401(k) Traditional & Roth
• Paid Time Off
• Great TEAM environment

This is a safety sensitive position