Senior Manager - Inventory Health Management
Position Overview:
We are seeking a dynamic, results-driven Senior Manager of Inventory Health Management to oversee and optimize inventory performance across the organization. This role will be responsible for ensuring that the inventory is aligned with the company's strategic objectives and operational goals while driving continuous improvement in inventory accuracy, turnover, and overall health.
The ideal candidate will have a deep understanding of inventory management best practices, strong analytical skills, and the ability to collaborate cross-functionally with teams in supply chain, procurement, sales, and operations.
Key Responsibilities:
- Inventory Health Optimization
- Develop and execute strategies to monitor and improve the health of inventory across multiple BUs.
- Drive continuous improvement initiatives related to inventory turnover, shelf life ,obsolescence reduction, Non-live reduction
- Assess and manage slow-moving, excess, and obsolete inventory, implementing corrective actions as needed.
- Utilize data analysis to identify trends in inventory health and make recommendations to Sell through high and low sell through inventory
- Forecasting & Demand Planning
- Collaborate closely with demand planning, sales, and procurement teams to ensure accurate forecasting of inventory needs.
- Assess the impact of demand fluctuations on inventory health and take proactive measures to prevent overstock or stockouts.
- Inventory Accuracy & Controls
- Lead efforts to maintain high levels of inventory accuracy across all warehouses, stores, and distribution centers.
- Work with operations teams to improve cycle counting processes, inventory reconciliation, and reporting.
- Establish and maintain inventory control protocols, ensuring compliance with company policies and industry standards.
- Stakeholder Engagement & Reporting
- Provide regular inventory performance updates to senior leadership, highlighting key metrics (turnover rate, inventory value, etc.).
- Collaborate with cross-functional teams to set and achieve inventory health KPIs.
- Work with the finance/ IPC team to assess the financial impact of inventory performance and make recommendations for improvement.
- Process Improvement & Technology Integration
- Identify and implement process improvements related to inventory management and reporting.
- Leverage ERP systems and other technologies to improve inventory tracking, forecasting, and decision-making processes.
- Stay up-to-date on industry trends, best practices, and emerging technologies that can enhance inventory health management.
- Team Leadership & Development
- Provide training and mentorship to team members to build expertise in inventory management and analytics.
- Set clear performance goals, track progress, and provide regular feedback to ensure team success.
Key Performance Indicators (KPIs):
- Inventory turnover ratio(STR)
- Days of Hand (DOH)
- Reduction in slow-moving and obsolete inventory
- Forecast accuracy
- Reduction in out-of-stock incidents
- Overall inventory value and health
Qualifications:
Education & Experience:
- Bachelor’s degree in Supply Chain Management, Business Administration, or a related field (Master's degree preferred).
- 7+ years of experience in inventory management or supply chain operations, with at least 3 years in a leadership or managerial role.
Skills & Competencies:
- Strong analytical skills with the ability to turn data into actionable insights.
- Proven ability to develop and implement inventory management strategies.
- Exceptional communication and interpersonal skills, with the ability to work cross-functionally.
- Strong problem-solving skills, with a proactive approach to addressing inventory challenges.
- Knowledge of lean inventory management techniques, demand forecasting, and replenishment strategies.
- Ability to lead teams and manage multiple projects in a fast-paced environment.
Preferred Qualifications:
- Advanced proficiency in data analysis tools such as Excel, Power BI, SQL and Python.
- Experience in e-commerce, retail, or consumer goods industries.
