Inventory Officer at Tonia Pharmacy Limited

Responsibilities

• 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 shipments, 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 for replenishment stock, 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.

Requirements and Qualifications

• Bachelor's Degree in Business Administration, Logistics, Supply Chain Management, or a related field; certification in inventory management is a plus.
• 2 - 5 years proven experience in inventory management, stock control, or warehouse operations, preferably in a manufacturing, retail, or distribution environment.
• Strong analytical and numerical skills, with the ability to analyze inventory data, interpret trends, and make data-driven decisions.
• Proficiency in inventory management software, ERP systems, and Microsoft Office suite (Excel, Word, Outlook).
• Excellent organizational and time management skills, with the ability to prioritize tasks, meet deadlines, and manage multiple projects simultaneously.
• Attention to detail and accuracy in inventory record-keeping, stock tracking, and data entry.
• Effective communication and interpersonal skills, with the ability to work collaboratively with cross-functional teams and external stakeholders.
• Problem-solving and decision-making abilities, with the capacity to identify issues, analyze root causes, and implement effective solutions.
• Knowledge of inventory control principles, best practices, and regulatory requirements, such as FIFO, LIFO, and inventory valuation methods.
• Commitment to continuous improvement, with a focus on optimizing inventory processes, reducing costs, and enhancing efficiency.

Required Skills:

• Inventory management
• Data analysis
• Communication skills
• Problem-solving
• Time management
• Attention to detail
• Software proficiency
• Team coordination
• Negotiation skills
• Continuous improvement.