Assistant Manager Inventory Controller
Mumbai, Maharashtra, India
Description for AM Supply Chain-Inventory Controller
Inventory Controller plays a crucial role in managing and optimizing
a company's inventory. The job description of an Inventory Controller
typically includes a range of responsibilities aimed at ensuring
efficient inventory management and maintaining accurate records. Here
is a comprehensive job description for an Inventory Controller:
Inventory Controller is responsible for overseeing all aspects of
inventory management, including planning, procurement, storage,
tracking, and reporting. The primary goal is to maintain optimal
inventory levels while minimizing costs and ensuring product
availability to meet customer demand.
Inventory Planning and Forecasting:
Collaborate with various departments to forecast demand and plan inventory accordingly.
Monitor inventory trends and adjust procurement and stocking strategies as needed.
Set reorder points, safety stock levels, and order quantities to maintain optimal inventory levels.
Procurement and Receiving:
Place orders with suppliers based on demand forecasts and inventory needs.
Coordinate with suppliers to ensure timely and accurate deliveries.
Inspect received goods to verify quality and quantity, resolving discrepancies as necessary.
Inventory Storage and Organization:
Supervise the organization and layout of the warehouse or storage area.
Implement efficient storage methods to maximize space utilization.
Ensure proper labeling and categorization of inventory items.
Inventory Tracking and Management:
Implement inventory tracking systems (e.g., barcoding, RFID) to maintain accurate records.
Regularly conduct physical inventory counts and reconcile discrepancies.
Identify slow-moving, obsolete, or surplus inventory and recommend appropriate actions.
Generate and maintain inventory reports, including stock levels,
turnover rates, and valuation.
Provide regular reports to management with insights and recommendations for inventory optimization.
Stock Rotation and FIFO/LIFO Compliance:
Ensure proper stock rotation to minimize the risk of product spoilage or obsolescence.
Comply with FIFO (First-In, First-Out) or LIFO (Last-In, First-Out)
inventory methods as applicable.
Establish and maintain positive relationships with suppliers and negotiate favorable terms.
Evaluate supplier performance and seek continuous improvement opportunities.
Compliance and Documentation:
Ensure compliance with relevant regulations, such as safety and quality standards.
Maintain accurate and up-to-date inventory documentation and records.
Monitor inventory-related expenses, such as storage costs, and identify cost-saving opportunities.
Implement cost-effective inventory management strategies.
Work closely with cross-functional teams, including purchasing,
logistics, and production, to ensure seamless operations.
Train and supervise inventory staff as needed.
Bachelor's degree in supply chain management, business, or a related field (or equivalent experience).
Proven experience in inventory control, supply chain, or related roles.
Proficiency in inventory management software and Microsoft Office applications.
Strong analytical and problem-solving skills.
Excellent communication and teamwork abilities.
Attention to detail and accuracy.
The role of an Inventory
Controller is critical in maintaining a well-functioning supply chain
and ensuring that a company's inventory is managed efficiently and
cost-effectively. Successful inventory control can contribute
significantly to a company's profitability and customer satisfaction.