Inventory Officer/Manager

NDE Infratech Ltd

 

NDE Infratech Ltd

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Summary

• Vacancy: —
• Location: Dhaka
• Salary: Negotiable
• Experience: 2 to 6 years
• Published: 14 Jul 2024

 

Requirements

Education

• Master of Business Administration (MBA), Bachelor of Business Administration (BBA)

Experience

• 2 to 6 years
• The applicants should have experience in the following business area(s):
  Manufacturing (FMCG), Engineering Firms, Garments, Group of Companies

Responsibilities & Context

Develop and maintain an efficient inventory management system that ensures accurate and up-to-date records of all incoming and outgoing products.

Collaborate with other departments, purchasing, and logistics, to ensure inventory levels meet business requirements.

Perform regular physical counts of inventory and compare results to system records to ensure accuracy.

Develop and implement processes for inventory tracking and optimization, including Just-In-Time inventory management principles.

Monitor inventory levels and demand trends, and make informed decisions about inventory levels to avoid stockouts or excess inventory.

Negotiate with suppliers to ensure timely and accurate deliveries, and resolve any conflicts regarding inventory levels.

Continuously evaluate and improve inventory management processes to increase efficiency and reduce waste.

Provide regular reports on inventory performance and make recommendations for process improvements.

Develop and implement inventory management strategies.

Conduct regular audits and reconciliations to ensure inventory accuracy.        Implement and maintain advanced inventory control systems.

Utilize inventory management software to track and manage stock levels.         Ensure proper documentation and record-keeping of inventory transactions.

Establish and maintain relationships with suppliers.

Negotiate contracts and terms with suppliers to ensure favorable conditions.

Monitor supplier performance and address any issues promptly.

Supervise and train inventory staff.

Assign tasks and responsibilities to team members.

Foster a positive and productive work environment.

Implement cost-saving measures in inventory management.

Monitor and control inventory levels, tracking stock movements, and conducting regular stock counts to ensure accuracy and completeness of inventory records.

Receive, inspect, and record incoming inventory materials, verifying quantities, quality, and condition of goods received against purchase orders or packing slips.

Update inventory databases, systems, or spreadsheets to reflect stock transactions, adjustments, and movements, maintaining up-to-date and accurate inventory records.

Generate inventory reports, including stock levels, aging analysis, and inventory turnover ratios, to assess inventory performance and identify trends or issues.

Analyze demand patterns, sales forecasts, and historical data to forecast inventory requirements, set reorder points, and determine optimal stock levels.

Coordinate with procurement and purchasing teams to place orders, ensuring timely delivery and availability of inventory items.

Manage stock rotation, shelf-life tracking, and expiry date monitoring for perishable or time-sensitive goods, minimizing waste and spoilage.

Implement inventory control measures, such as FIFO (first-in, first-out) or LIFO (last-in, first-out), to optimize inventory turnover and minimize obsolescence.

Conduct regular inventory audits, reconciling physical stock counts with inventory records, investigating discrepancies, and resolving inventory variances.

Identify and investigate inventory discrepancies, stock shortages, or surplus inventory, conducting root cause analysis and implementing corrective actions.

Collaborate with warehouse and logistics teams to ensure efficient storage, handling, and distribution of inventory items, optimizing warehouse layout and organization.

Develop and maintain relationships with suppliers, vendors, and service providers, negotiating terms, pricing, and delivery schedules to ensure reliable supply of inventory items.

Implement inventory management best practices, standard operating procedures (SOPs), and quality standards to improve efficiency and accuracy in inventory control processes.

Train and supervise inventory staff, providing guidance, coaching, and support to ensure compliance with inventory management policies and procedures.

Stay updated on industry trends, best practices, and regulatory requirements in inventory management, participating in training, workshops, and professional development activities.

Skills & Expertise

Cost and Inventory Management

Data Analysis skills

Distribution/ Supply Chain Management

Inventory Mangement

MS Word/ Excel/ PowerPoint/ OneNote

Problem Solving Ability

Time Management

Workplace

Work at office

Employment Status

Full Time

Job Location

Dhaka

Job Highlights

As an Inventory Manager or Officer, you will play a critical role in overseeing and optimizing the entire inventory management process. This includes the procurement, receipt, storage, and management of products across various locations.

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