Job Summary:
The Inventory Planner is responsible for managing and optimizing inventory levels to support the company's sales and operational goals. This role involves analyzing sales data, forecasting demand, and coordinating with suppliers and internal teams to ensure timely availability of products. The Inventory Planner aims to balance the need for product availability with the company's financial objectives, minimizing excess inventory and reducing stockouts.
On-Site: Sarasota, FL
Key Responsibilities:
Demand Forecasting:
- Analyze historical sales data and market trends to forecast future demand for products.
- Collaborate with sales, marketing, and product development teams to incorporate promotional plans and new product launches into forecasts.
Inventory Management:
- Monitor and maintain optimal inventory levels for all products, balancing the need to meet customer demand while minimizing carrying costs.
- Develop and implement inventory control procedures to manage stock levels, track inventory turnover, and reduce obsolete inventory.
- Conduct regular cycle counts and reconcile discrepancies to maintain accurate inventory records.
Supplier Coordination:
- Work closely with suppliers to manage lead times, order quantities, and delivery schedules.
- Negotiate terms and conditions with suppliers to ensure favorable pricing and service levels.
- Monitor supplier performance and address any issues related to delivery, quality, or cost.
Data Analysis and Reporting:
- Generate and analyze inventory reports, identifying trends and making recommendations for improvements.
- Monitor key performance indicators (KPIs) related to inventory, such as stock turnover rates, fill rates, and days of supply.
- Prepare regular reports for management, providing insights into inventory performance and potential risks.
Cross-Functional Collaboration:
- Collaborate with the operations, logistics, and finance teams to align inventory planning with overall business objectives.
- Participate in cross-functional meetings to discuss inventory strategies, product lifecycle management, and process improvements.
Continuous Improvement:
- Identify opportunities to streamline inventory processes and implement best practices.
- Stay up-to-date with industry trends and emerging technologies in inventory management.
Qualifications:
- Bachelor's degree in Supply Chain Management, Business Administration, or a related field.
- Proven experience in inventory planning, demand forecasting, or a related role.
- Strong analytical and problem-solving skills, with proficiency in data analysis tools and software (e.g., Excel, ERP systems).
- Excellent communication and interpersonal skills, with the ability to work effectively with cross-functional teams.
- Detail-oriented and highly organized, with the ability to manage multiple priorities and deadlines.
- Knowledge of inventory management principles and best practices.
Preferred Qualifications:
- Experience with advanced inventory planning software or systems (e.g., SAP, Oracle, JDA).
- APICS certification or equivalent.