An inventory specialist is a person who works for a company, usually in a retail or manufacturing setting, and is in charge of inventory counts and issues in the store. This could be a lower-level position with a title designed to make it appear more important than it is, or a management position with a close connection to the store’s daily operations. Performing daily counts, tracking down inventory problems, communicating with warehouses and distributors, organizing scheduled inventory counts, and effectively organizing a business’s inventory are all common responsibilities, regardless of the position’s status.
The product or materials located at a retail store or manufacturing facility are commonly referred to as inventory. It’s also known as “physical inventory,” and it’s made up of the goods that a store sells or that a manufacturer uses to make other products. Inventory is important in both types of establishments, so an inventory specialist is usually hired to ensure proper counting and storage of such items.
An inventory specialist’s daily counts are frequently an important task. These counts usually entail physically looking for products in a store to ensure that what is there matches what is recorded on a computer or in other forms of bookkeeping. Shipping errors, shoplifting, employee theft, and product mishandling at cash registers can all result in discrepancies between physical inventory and what should be there. Mistakes and other issues can often be discovered and resolved more quickly when these types of counts are performed.
Because so much of a company’s inventory comes from other manufacturers or distributors, an inventory specialist may have to work with warehouses to figure out what’s causing the problem. If a pallet of merchandise isn’t on a truck, the specialist will usually have to track it down and make sure it gets to the right store or facility. Yearly store inventories are another important aspect of what people in this position are usually in charge of.
These types of annual inventories frequently reveal a “shrink” or “swell” in company profits due to the discovery of product that is either missing or in excess of what should be present. Excessive shrink can jeopardize an inventory specialist’s job, so accurate counting is crucial for anyone in that position. Inventory specialists may also be in charge of making sure that products are properly placed on shelves so that customers can find what they want. Excess product may need to be stored in overhead compartments, and an inventory specialist will need to make sure this is done safely and efficiently.