Inventory Officer Responsibilities

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Effective management of inventory forms the core of inventory officer responsibilities.

The inventory officer is primarily responsible for handling the material management responsibilities that include acquisition of the material, merchandise, items, etc., and its proper distribution. The inventory officer may also be referred as the purchasing or inventory manager.

The purpose of this position is to supervise and coordinate the activities of those engaged in inventory management and to ensure that optimum levels of inventory is maintained and that it is at par with quality standards. He/she is also responsible for keeping a track of the inventory records and making sure that it is accurate.

Key Responsibilities of Inventory Officer

The inventory officer is responsible for preparing the purchase orders, receiving, storing, issuing the goods, managing the stock levels and giving out the supplies from the stock.
He/she is also involved in preparing the inventories, maintaining the stock records, using computerized systems for entering the records and is accountable for checking the supply invoices with the purchase orders.
He/she is responsible for preparing the reports on adjustments done to inventories that may be damaged, spoilt, etc., and coordinates the purchasing, inventory and warehousing functions.
He/she finds out sources of supply and is responsible for obtaining quotes from the suppliers as well.
He/she makes sure to get rid of the surplus or obsolete stock.
To maintain record of receipts as well as issuance of items that are going out of the warehouse so as to ensure accuracy and completeness
To be involved in reconciliation of physical stock with the stock in the system
To oversee that the arrangement of goods has been done in an orderly system within the stock location system so that the stock can be stored easily and retrieved whenever there is a requirement. Similarly, he/she ensures that the stocks stay physically protected in the warehouse
To undertake the function of stock taking and confirm the periodic stock on a regular basis by working closely with the designated staff members
To supervise the offloading process, the subsequent arrangement of merchandise, material, etc., and consignment so that it can be accessed and identified easily
To ensure the correct and timely valuation of the inventory and to be involved in directing and managing procedures related to offloading, packing and unpacking

In addition to the above duties, the inventory officer is responsible for keeping a close eye on the movement of stock from in and out of the warehouse.

He/she is involved in preparing the weekly reports of all the activities in the warehouse like the consignment received, the quantity of items received, point of collection and dispatch, stacking number, outstanding balance, etc. He/she provides the best service needs to the existing as well as the new customers and ensures that each and every customer remains satisfied.

He/she oversees the cycle counting programs for the distribution centers as well as the stores. He/she develops, maintains, and adopts the best operational procedures and practices for inventory control. He/she tries to find out discrepancies and determines the root cause for the issue found.

Thus, he/she is involved in performing all the procedures and activities concerned with the management of the inventory and generally works under the supervision of a senior personnel and may perform other related duties as well.

Essential Skills and Abilities

The individual interested in becoming an inventory officer should be able to demonstrate collaborative work style, strong leadership skills and should have the ability to take proper decision and action whenever any difficult situation arises.
He/she should have excellent oral and written communication skills.
Good analytical and organizational skills with experience in project management would definitely prove to be an advantage.
He/she should have a desire to learn every detail related to inventory business and should have the passion to reach out for promotional opportunities.
He/she should be able to enjoy clerical and administrative work with good planning and numeric skills.
He/she should have a methodical approach to complete the assigned work and should pay strong attention to detail.

Educational Background

If you want to apply for the position of an inventory officer, the minimum qualification required to be eligible for this position is that you should have completed a bachelor's degree in business related to inventory management, accounting, logistics, etc., from an accredited college or university. Some employers may look out for some equivalent work experience in inventory management.

Work Schedule

The work schedule of this professional is ever changing depending on the work assigned. He/she may need to travel to the customers' locations. Thus, he/she must be ready to work in a flexible work environment.

Salary Details

The average salary package offered for this professional is in the range of $79,000. However, this is only a general range provided by one of the job portals and may vary depending on the individual's skills, knowledge and experience.

Career Prospects

The job opportunities for this professional will definitely be growing in the coming years. The individual who has worked hard will definitely rise to higher positions and should be ready to relocate if he/she is offered any advancement opportunities.

Therefore, to become a complete professional in this field and ensure a rewarding career ahead, the inventory officer responsibilities must be shouldered efficiently and effectively.

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