Vendor Purchasing Inventory Specialist

Summary of Job Duties: (On-Site Position)

The Inventory Specialist is responsible for overseeing the organization's inventory operations, ensuring accurate stock levels, efficient inventory tracking, and timely replenishment of goods. This role is critical in maintaining supply chain efficiency, minimizing inventory costs, and preventing stockouts or overstock situations.

Specific Job Duties:

1. Develop and implement inventory management procedures and best practices.

2. Monitor inventory levels and manage stock control to ensure adequate supplies.

3. Use inventory management system to track stock levels, orders, and deliveries.

4. Conduct regular stock audits and reconcile inventory discrepancies.

5. Monitor forecast demand and coordinate with procurement to maintain optimal stock levels.

6. Analyze inventory data to identify trends, inefficiencies, and opportunities for cost reduction.

7. Execute inventory transfers between distribution centers to balance stock levels across locations.

8. Execute returns of overstocked and aging inventory to improve turnover and minimize holding costs.

9. Collaborate with warehouse staff and other departments (sales, procurement, logistics) to ensure smooth inventory flow.

10. Ensure compliance with health, safety, and quality standards.

11. Report on inventory KPIs and performance metrics to senior management.

12. Perform all other tasks assigned by Threshold management.