Inventory Manager at Pharmarun

Position Overview:

• As the Inventory Manager, you will play a crucial role in overseeing and managing all aspects of inventory control within our organization.
• Your primary responsibilities will include ensuring accurate and up-to-date pricing, maintaining optimal stock levels, and implementing efficient inventory management practices.

Key Responsibilities:

Price Management:

• Regularly review and update product pricing to ensure competitiveness and alignment with company pricing strategies.
• Monitor market trends and competitor pricing to make informed pricing decisions.
• Collaborate with the sales and marketing teams to develop pricing strategies that maximize profitability while remaining competitive in the market.

Stock Control:

• Maintain accurate inventory records and ensure stock levels are sufficient to meet customer demand.
• Implement inventory control procedures to minimize stock discrepancies, shrinkage, and obsolescence.
• Conduct regular stock audits and reconciliations to identify discrepancies and address any issues promptly.

Supplier Management:

• Coordinate with suppliers to ensure timely delivery of inventory and resolve any supply chain issues that may arise.
• Negotiate favourable terms with suppliers to optimize inventory costs and minimize lead times.
• Evaluate supplier performance and establish relationships with key suppliers to ensure the reliability and quality of inventory.

Inventory Optimization:

• Analyze inventory data and trends to identify opportunities for optimization and improvement.
• Implement strategies to reduce excess inventory and improve inventory turnover ratios.
• Work closely with cross-functional teams to forecast demand accurately and adjust inventory levels accordingly.

Process Improvement:

• Continuously evaluate and refine inventory management processes to enhance efficiency and accuracy.
• Identify areas for automation and implement technology solutions to streamline inventory management tasks.
• Provide training and guidance to staff members on inventory management best practices and procedures.

Qualifications:

• Bachelor's degree in business administration, supply chain management, or a related field.
• Proven experience in inventory management, preferably in a retail or manufacturing environment.
• Strong analytical skills with the ability to interpret data and make data-driven decisions.
• Excellent attention to detail and organizational skills.
• Proficiency in inventory management software and Microsoft Excel.
• Effective communication and interpersonal skills.
• Ability to work collaboratively in a team environment and prioritize tasks effectively.