Job Description

• Develop and implement inventory control strategies to optimize inventory levels and minimize stockouts or excess inventory.
• Monitor inventory levels and track inventory movement to identify potential discrepancies, variances, or issues. Evaluate inventory values for reserve on a periodic basis.
• Identify and qualify alternate sources, domestic and foreign, for CT finished goods and raw materials as needed.
• Remain updated on tariffs and the impact on our global supply chain, reporting to senior management as global policies change.
• Collaborate with cross-functional teams (such as sales, operations, and finance) and businesses (Richard Tools and Hyde) to forecast inventory needs and establish inventory targets.
• Manage the Forecasting process for the Construction Tool (CT) business using ForecastX software (An Excel based forecast system)
• Coordinate with suppliers and vendors to ensure timely delivery of materials, goods, or products to meet production or customer demand.
• Strong negotiation with vendors and suppliers to obtain competitive pricing, favorable payment terms, and favorable contract terms.
• Establish and maintain strong relationships with suppliers, vendors, and other external partners to ensure a reliable and efficient supply chain.
• Analyze inventory data and generate reports to provide insights and recommendations to management on inventory control strategies and purchasing decisions.
• Continuously evaluate and improve purchasing processes and procedures to streamline operations, reduce costs, and increase efficiency.
• Strong analytical skills and attention to detail to effectively analyze inventory data and identify trends, patterns, and opportunities for improvement.
• Excellent organizational and time management skills to effectively prioritize tasks, meet deadlines, and manage multiple projects simultaneously.
• Proficiency in using ERP inventory management software and systems to track and manage inventory.
• Knowledge of supply chain management principles, inventory control techniques, and purchasing best practices.
• Ability to work independently and make informed decisions, while also collaborating effectively as part of a team.
• Strong problem-solving and decision-making skills to effectively resolve inventory-related issues and implement appropriate solutions.
• Understanding of financial principles and cost analysis to evaluate the financial impact of inventory and purchasing decisions.
• Familiarity with relevant laws, tariffs and regulations related to purchasing and Supply and inventory management.
• Manage one direct report Procurement specialist responsible for indirect supply purchasing of good for the manufacturing facility including, packing materials, energy needs, and employee breakroom goods

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