Strategic Inventory Manager

About the position

The Strategic Inventory Manager is responsible for managing and optimizing inventory within the production environment. This role ensures that raw materials, components, and finished goods are efficiently procured, stored, and distributed to meet production and customer demand while minimizing costs and avoiding stockouts. The Strategic Inventory Manager will work closely with production, procurement, planning, FP&A, and logistics teams to align inventory levels with manufacturing schedules and demand forecasts.

Responsibilities

• Oversee inventory levels across raw materials, work-in-progress (WIP), and finished goods to ensure alignment with production requirements and demand forecasts.
• Develop and implement inventory strategies that minimize holding costs, reduce excess inventory, and prevent stockouts while insulating the machine from demand changes to the assembly production schedule.
• Continuously monitor inventory turnover and recommend actions to optimize inventory flow through the manufacturing process.
• Work closely with the production team to ensure the availability of raw materials and components required for production schedules.
• Develop and maintain safety stock levels and ordering policies to avoid production delays due to supply chain disruptions.
• Coordinate with planning, procurement, and production teams to adjust inventory based on changes in production demand or lead times.
• Identify opportunities to reduce inventory carrying costs, including storage, handling, and obsolescence.
• Continuously evaluate inventory processes to identify and implement cost-saving measures.
• Establish and monitor key performance indicators (KPIs) such as inventory turnover, stockouts, lead times, plan attainment, and order fulfillment rates.
• Generate regular reports on inventory performance, providing insights and recommendations for improvement to senior management.
• Monitor and adjust inventory levels in response to changing production requirements and demand fluctuations.
• Collaborate with engineering, product development, and quality control teams to align inventory strategies with new product introductions and quality standards.
• Act as a liaison between finance and supply chain teams to ensure accurate forecasting and alignment of budgets with inventory needs.
• Leverage advanced inventory management and Enterprise Resource Planning (ERP) systems to track and manage inventory levels in real-time.
• Work with IT teams to integrate new tools, technologies, or software solutions to improve inventory visibility, tracking, and forecasting.
• Ensure that all inventory data is accurately recorded, updated, and shared across systems.

Requirements

• Education: Bachelor's degree in Supply Chain Management, Operations Management, Business Administration, or a related field. A Master's degree or certifications (e.g., APICS CPIM) is a plus.
• Experience: 7-10+ years of experience in inventory management, preferably in a manufacturing or production environment.
• Strong knowledge of manufacturing processes, supply chain management, and inventory control techniques.
• Expertise in using ERP systems (e.g., SAP, Oracle, Microsoft Dynamics) and inventory management and planning software (e.g. Logility).
• Advanced proficiency in Microsoft Excel and data analytics tools.
• Strong analytical and problem-solving skills with the ability to interpret complex data and make informed decisions.
• Knowledge of Lean Manufacturing and Just-in-Time (JIT) inventory strategies.
• Excellent communication, negotiation, and collaboration skills to work with cross-functional teams.

Nice-to-haves

• Strategic Thinking: Ability to develop and execute long-term inventory strategies that align with business goals.
• Attention to Detail: Ensure inventory accuracy and identify discrepancies promptly.
• Leadership: Capable of leading inventory management initiatives and collaborating across departments.
• Cost Management: Ability to identify cost-saving opportunities and optimize inventory expenditures.
• Problem-Solving: Strong ability to troubleshoot and resolve inventory-related issues quickly and efficiently.

Benefits

• Affordable health and dental insurance
• Strong commitment to training and professional development including an internal skills development program for all manufacturing team members
• Generous tuition reimbursement program
• Company contributions up to 8% of base pay into a 401K retirement account
• Profit sharing
• Great product discounts