Inventory Specialist Job Description, Skills, and Salary
Are you searching for an inventory specialist job description? Get to know about the duties, responsibilities, qualifications, and skills requirements of an inventory specialist. Feel free to use our inventory specialist job description template to produce your own inventory specialist job description. We also provide you with information about the salary you can earn as an inventory specialist.
Who is an Inventory Specialist?
An inventory specialist often referred to as an inventory control specialist, is a qualified individual who is in charge of managing the ordering, storing, receiving, and distribution of the goods and supplies used by a company. Based on the demands of their business, inventory specialists are responsible for a wide range of tasks. Controlling the flow of supplies and equipment, keeping track of inventories, and performing safety-related maintenance are some of their main responsibilities. Additionally, they create procedures to lessen loss if an incident like a fire or theft at your place of business occurs.
Typically employed by the department or retail stores, inventory specialists create processes for efficiently managing and maintaining a company’s inventory. They’ll carry out inventory counting procedures to ensure that a company’s cargo is accurate. To make sure there’s enough place to keep fresh product shipments, inventory specialists also monitor and manage the warehouse’s inventory storage space. The Inventory Specialist will place restock orders when inventories begin to dwindle and ensure that they never run out of necessary inventory items. To maintain and update their inventory records appropriately, they also use management software systems and technologies.
Warehouse Workers are often the people who are answerable to inventory specialists. To make sure the warehouse workers are performing efficiently, inventory specialists keep an eye on their performance and efficiency levels and offer insightful criticism. The schedules for the warehouse workers are also created by the inventory specialists, who assign jobs based on the abilities and preferences of their workers. The Inventory Specialist strives to solve any difficult workplace issues that the Warehouse Workers have and comes up with a logical answer. Typically, the size of the company a person works for determines to whom the inventory specialist reports. Larger warehouse employees could be part of a group of Inventory Specialists who collectively operate under the supervision of a Senior Inventory Specialist or Inventory Manager. Smaller businesses’ other inventory specialists might answer directly to the owner or manager of the store. They give the Inventory Specialist regular store updates and information about the need for inventory.
The duties of taking stock and inventory of items are common among inventory specialists. The majority of the time is frequently spent in the warehouse supervising the staff who are stocking the merchandise by those who work in larger department stores and retail locations. They also guarantee that the appropriate goods are delivered from the warehouse to the sales floor. Some inventory specialists may work in an office environment where they inventory supplies that the company’s staff uses frequently. To find out what is required, they consult with various departments. They then speak with suppliers to agree on the best price for the company to pay for these supplies. Math skills are strong, and the ability to calculate inventory levels is a strong suit of a good inventory specialist. To take into account the company’s budget, they should be able to assess various shipping charges. Inventory Specialists should have excellent organizational abilities to efficiently sort through inventory duties and keep up with inventory levels since they are frequently developing inventory strategies and methods. Stockers and other warehouse workers frequently need assistance from Inventory Specialists as they transport merchandise from one area to another throughout the warehouse. To do this, they should have the necessary physical endurance. Excellent interpersonal communication abilities, a solid understanding of fundamental computer programs, and the capacity to function both independently and as part of a team are requirements for successful inventory specialists. Candidates with inventory experience and mid-level management experience are preferred.
Inventory Specialist Job Description
What is an inventory specialist job description? An inventory specialist job description is simply a list of duties and responsibilities of an inventory specialist in an organization. Below are the inventory specialist job description examples you can use to develop your resume or write an inventory specialist job description for your employee. Employers can also use it to sieve out job seekers when choosing candidates for interviews.
The duties and responsibilities of an inventory specialist include the following:
- Stack up all the goods and supplies in the store.
- Examine sales data and contrast it with inventory levels in actual stores.
- Inform the inventory manager or store manager of any discrepancies.
- Discuss inventory levels with your superiors, and if additional materials are required to maintain sufficient levels, suggest placing purchase orders.
- Keep an inventory of the items that are kept in warehouses, storage facilities, or retail establishments to make sure that they are available for purchase when needed.
- Maintain the stockroom’s cleanliness and order.
- Make purchases of new supplies.
- Find the damaged or expired products on the sales floor and remove them.
- Creates shipping labels, packages defective items for return, and mails everything.
- Come up with ideas for reducing inventory variance and potential theft in collaboration with the shop manager.
- Record, monitor, and manage all inventory-related data using computerized inventory software.
- Assist consumers on the sales floor when necessary.
- Make sure that invoice reconciliation and inventory level adjustments appropriately represent all inventory transactions.
- Scan barcodes or use other computer systems created for this purpose to follow the distribution of merchandise.
- Extract things for consumers and salespeople from the stockroom.
- Accept and sign for the delivery to the store.
- Off-load deliveries and properly store them in the stockroom.
- Restock the sales floor with an inventory.
- Update reports on inventories to reflect new deliveries.
- Provide client service and aid in completing deals.
- Make sure that all of the inventory on the sales floor is well-organized, securely housed, and in good working order.
- Help clean the store during closing hours.
- Show up to shop meetings.
- A high school diploma or its equivalent is preferable.
- Training for the position is necessary before the start date.
- A track record of success in an inventory specialist or comparable position.
- Three years’ experience minimum in the subject.
- Excellent time-management and organizing skills.
- Working knowledge of spreadsheet, database, and word processing programs
- Ability to occasionally work weekends.
- Proficiency with inventory management software.
- Possession of in-depth knowledge about the scope of goods and services offered by the prospective organization.
- Understanding and ability to interpret sales and inventory reports.
- Possession of the physical stamina required to unload and replenish goods
- Ability to focus raptly on details
- Powerful organizational abilities.
- The capacity to come up with the best inventory control strategies.
- Excellent communication and customer service abilities.
- Ability to work well in a team.
- Communication skills: Since they frequently collaborate with other personnel, inventory specialists must be great communicators. It’s crucial to be able to communicate clearly and concisely because you might need to interact with customers, suppliers, and other workers.
- Time management skills: Inventory specialists sometimes collaborate with a team to manage several duties at once. You can prioritize your work and stay on schedule by developing effective time management skills. Create a schedule for replenishing shelves and keeping inventory by working with a team.
- Mathematics skills: A large portion of an inventory specialist’s day will be spent using spreadsheets and software for inventory management. When deciding how to set up a store’s warehouse and how much merchandise to order, they will need to balance a variety of financial and storage issues while comparing shipment costs and numbers with a store’s budget.
- Organizational skills: Determining how a store’s inventory warehouse is set up and how products are rotated and occasionally purchased for the store is one of an inventory specialist’s main duties. An organized inventory expert will possess the necessary abilities to carry out these jobs quickly and effectively.
- Leadership skills: The inventory expert oversees the team in charge of stocking and keeping inventories. When dealing with a company’s management, an inventory expert with good leadership abilities can inspire their stockers and inventory managers and promote their shared interests.
- Problem-solving skills: Inventory specialists frequently collaborate with a team to manage a lot of data. To make sure the business has the appropriate number of products, they could collaborate with other departments. Your ability to solve problems can assist you to overcome any difficulties you may encounter in your job.
- Physical Stamina: The majority of an inventory specialist’s shift is spent travelling about the warehouse and helping stockers move inventory shipments to the sales floor. An inventory expert must have the strong physical endurance to assist the inventory team with shipment rotation for prolonged periods.
- Inventory control skills: Inventory management is the practice of surveillance and managing the supply of products in a corporation. This involves being aware of how much of each product is on hand, when it needs to be refilled, and how many units have been purchased. Inventory specialists use their understanding of inventory management to make sure that businesses have the proper number of products available at the right times.
- Data analysis skills: Data analysis skills are used by inventory professionals to track and monitor inventory levels, sales statistics, and other company data. To buy and replenish inventory, they use this information to make well-informed judgments. For storing and collecting inventory data, data analysis abilities are also crucial.
- Computer proficiency: The store’s inventory specialist is the primary user of the inventory management system. Almost all facets of an inventory specialist’s job, including placing orders and managing an establishment’s inventory budget, rely on this program. A computer whiz will be able to use their program to the most potential as an inventory specialist.
How to Become an Inventory Specialist
Step 1. Acquire required education
A high school diploma is required to work as an inventory specialist. A high school diploma-equivalent certificate can be obtained for applicants without a high school diploma by passing the General Education Development test (GED). A degree from a post-secondary institution is not necessary to work as an inventory specialist. However, obtaining an associate’s degree in logistics will help you stand out from the competition when applying for inventory expert roles and can provide the groundwork for your future success in the warehouse and logistics sector. An avenue for an inventory expert to pursue job growth is to obtain an Associate’s Degree in Logistics or a comparable field.
Step 2. Gain experience and training
Work as an entry-level stocker or in another inventory role for a year or two in the retail sector. The majority of inventory expert jobs call for at least a year of prior professional experience working in retail warehouses. When they begin working at their new job, inventory specialists get two to four weeks of on-the-job training. The purpose of this training is to familiarize the inventory expert with the store’s inventory management software, as well as to inform the specialist of specific store policies. It’s possible to forego some or all of this training if you become an inventory specialist through promotion from a stocker position at the same place. In general, businesses prefer that their candidates have experience working with inventory management when recruiting inventory specialists.
Step 3. Acquire certifications and licensure
The profession of an inventory specialist does not necessarily require any certifications. A logistics career as an inventory specialist can improve with the aid of some certificates, though. An inventory specialist can expand their inventory management skills into a career working in logistics and supply chain management by earning several practical optional certifications from the American Production and Inventory Control Society (APICS). Additionally, an inventory specialist will have a far better chance of being hired if they have a valid license to drive a forklift. Professionals from all industries can take exams and complete training programs to obtain a forklift license through the Occupational Safety and Health Administration (OSHA).
Step 4. Advance to the position of inventory specialist
Ask your supervisor if there are any openings for promotion to the job of an inventory specialist after working in an entry-level stocking or inventory position. If not, look for open inventory specialist employment elsewhere.
Where to Work as an Inventory Specialist
Inventory specialists are employed in a variety of sectors, including warehouses, distribution centres, manufacturing facilities, bigger retail establishments, and department stores. An inventory expert will move around the store’s warehouse area for most of their shift, keeping an eye on stockers as they move merchandise to the sales floor and entering shipment information and product details while they examine the warehouse’s contents. Depending on the sort of facility and the items being stored, they may work indoors or outside. Many inventory specialists work full time, but some may also work part-time, in the evenings or on weekends. During busy times, such as the holiday season, some inventory specialists may be needed to put in the extra effort. Utilizing a range of hand and power equipment, inventory specialists often work in a tidy, well-lit, and well-ventilated setting. They might need to stand for extended periods and lift large objects like boxes of goods.
Inventory Specialist Salary Scale
In the US, an inventory specialist makes, on average, $21 per hour. Typically, the wage range is between $19 and $24. Numerous significant elements, including the hourly rate, can vary significantly. In Nigeria, the average salary for an inventory specialist is about 398,000 NGN per month. The range of salaries is from 187,000 NGN to 629,000 NGN. This is the typical monthly wage, which also includes housing, transportation, and other amenities. Salary ranges for inventory specialists are extremely variable depending on factors including gender, geography, firm type, educational background, certifications, competency, experience in the field, and additional abilities.