Job Description: Inventory Manager – Hardware Retail & WholesalePosition Overview:The Inventory Manager oversees all aspects of inventory control and management within a hardware retail and wholesale environment.
This role ensures optimal stock levels, reduces waste, and improves efficiency in inventory operations to meet customer and business demands.
The Inventory Manager collaborates with suppliers, warehouse staff, and sales teams to align inventory strategies with organizational goals.Key Responsibilities:Inventory Control & ManagementDevelop and implement effective inventory management policies, procedures, and systems tailored to the hardware industry.Monitor inventory levels, ensuring stock accuracy, and conducting regular audits to prevent stock discrepancies.Establish reorder points and maintain optimal stock levels to meet retail and wholesale demand while minimizing overstock and stockouts.Oversee the tracking of inventory trends, including high-demand, seasonal, or slow-moving items, and adjust stocking strategies accordingly.Ensure the proper labeling, storage, and organization of inventory to facilitate easy retrieval and accurate counts.Supplier Coordination & ProcurementBuild and maintain strong relationships with suppliers to negotiate, delivery schedules, and terms of supply agreements.Collaborate with the purchasing department to forecast product demand and place orders based on market trends and sales data.Resolve issues related to late deliveries, defective goods, or supplier disputes to ensure uninterrupted operations.Data Analysis & ReportingAnalyze inventory performance metrics such as turnover rates, gross margins, and carrying costs.Prepare regular reports for management, detailing inventory performance, loss prevention findings, and cost-saving opportunities.Utilize inventory management software and tools to generate real-time data for decision-making.Team Leadership & TrainingManage and train inventory staff on best practices in inventory handling, data entry, and loss prevention.Provide leadership to ensure efficient workflows in stock receiving, replenishment, and order fulfillment.Collaborate with the sales and customer service teams to communicate product availability and delivery timelines.Loss Prevention & ComplianceImplement strategies to minimize inventory shrinkage, including theft, damage, and obsolescence.Ensure compliance with safety and regulatory standards in the handling, storage, and disposal of hardware materials.Conduct investigations into discrepancies and recommend corrective actions to prevent future issues.Qualifications:Education & Experience:Bachelor's degree or Diploma, Certificate in Supply Chain Management, Business Administration, or a related field preferred.3+ years of experience in inventory management, preferably in the hardware retail/wholesale sector.Skills:Proficient in inventory management software (e.g., SAP, SAGE, K8, GENESIS).Strong analytical and problem-solving skills with a focus on data-driven decision-making.Excellent organizational and multitasking abilities in a fast-paced environment.Strong negotiation and supplier relationship management skills.Knowledge of hardware tools, building materials, and related product categories is highly desirable.Personal Attributes:Detail-oriented with a proactive approach to identifying and resolving issues.Effective communication skills, both verbal and written, for interfacing with diverse teams and stakeholders.Leadership capabilities to inspire and manage a team effectively.Performance Metrics:Inventory accuracy rate (e.g., annual shrinkage targets).Stock turnover ratio and replenishment cycle efficiency.Reduction in obsolete or slow-moving inventory.Supplier performance and on-time delivery rates.Cost savings achieved through optimized inventory practices.Work Environment:Split between office settings, warehouses, and retail floors.May involve physical activities such as inspecting inventory or handling shipments.Occasionally requires long hours during peak seasons or stocktake periods.