An inventory manager is in charge of a company’s goods, materials, products, or parts. The inventory may be for internal use or may include goods that have been sold or rented to customers. The inventory manager frequently collaborates with other departments and is in charge of one or more inventory clerks. She could work in the public or private sector for a large or small company.
Inventory management is usually critical to a company’s success. The inventory manager is typically in charge of keeping track of inventory levels and ordering additional merchandise as needed to meet the company’s or customers’ needs. Her ability to assess current needs and predict future requirements is frequently required for her to maintain effective inventory control.
An inventory manager may use various methods to keep track of stock depending on the volume of inventory and the nature of the business. Cycle counts are performed on a regular basis some businesses that deal in large volumes of components and parts. This practice necessitates counting different parts of the inventory to ensure that all parts are inventoried at least once every six months or a year. Popular items are counted more frequently than slow-moving items, with only a few items being inventoried every day.
The inventory manager typically monitors it manually or through a computerized inventory tracking system in an environment where the inventory is relatively small or where the demands on it vary significantly and frequently. She is usually alerted to reorder at a specific inventory level for each part or product in stock. A system for tracking back orders and returns is usually built into the program’s mainframe.
An inventory manager typically tracks the costs of storing slow-moving inventory to ensure the highest profit margins are maintained and there are no interruptions in production or sales. She compares it to the cost of ordering goods on an as-needed basis on a regular basis. If the latter option proves to be more profitable, the manager will most likely change her inventory ordering and storage systems to boost profits.
In order to be successful in this position, you must have exceptional attention to detail and organizational skills. An inventory manager’s ability to apply analytical skills to inventory control is generally regarded as a plus. Knowledge of computerized tracking systems is commonly thought to be beneficial for those working in this field.
To work as an inventory manager, a bachelor’s degree in mathematics or inventory management is usually required. Applicants for this job should have credentials and certifications from accredited inventory control associations. For aspiring inventory managers, prior work experience in the field of inventory control is beneficial.