Inventory Planner

Job Title: Inventory Planner
Location: Remote

Work Shift/Working Hours: US Timezone

JOB OVERVIEW

Responsible for forecasting inventory needs through peaks & valleys of business. Forecasts for future inventory based on historical buys, reoccurring buys and current inventory levels. Review stock to sales ratios and respond to changing sales trends to ensure plan sales.

Responsibilities and Duties:

INVENTORY PLANNING

• Analyzing sales data, trends, and customer demands to create inventory forecasts
• Create live spreadsheet forecasting template
• Create Import packing list into fulfillment center when they receive a new freight from factory
• Coordinating with suppliers to ensure timely delivery of raw materials or components to meet production schedules
• Developing plans for maintaining inventory levels, including determining how much inventory should be kept on hand and anticipating potential shortages
• Developing policies and procedures for inventory management procedures, including how to handle damaged goods or expired items
• Developing plans for maintaining inventory levels, including determining how much inventory should be kept on hand and anticipating potential shortages
• Reviewing orders and shipping schedules to ensure that they meet legal requirements regarding the safe transport of merchandise
• Communicating with suppliers about order status updates

• Recommending improvements to inventory management systems based on past results

DEMAND FORECASTING

• Develop monthly sales and inventory forecasts through vendor management tools and demand forecasting.

REPORTING

• Measure business performance and address performance gaps by establishing metrics.
• Coordinate with other Departments like Marketing, Sales, to get input on data trend
• Communicate on requirements and share information with team members.
• Develop and measure inventory levels and service performance through KPIs.
• Organize, check and distribute product information to departments.
• Review inventory data to estimate potential utilization.
• Analyze data to identify opportunities for process improvement and cost optimization in logistics and inventory management.

Requirements

• Bachelor's degree in business, supply chain or other relevant fields.

• A minimum of 5 years experience in a demand planning/forecasting role in total supply chain
• Solid understanding of inventory management practices and procedures.
• Strong project management skills
• Have experience using project management tools
• Strong mathematical and statistical knowledge.
• Excellent verbal and written communications skills