Main Responsibilities and Required Skills for an Inventory Coordinator

An Inventory Coordinator is a professional who plays a crucial role in managing and maintaining inventory levels within an organization. They are responsible for overseeing the storage, movement, and tracking of goods to ensure efficient and effective inventory management. In this blog post, we will describe the primary responsibilities and the most in-demand hard and soft skills for Inventory Coordinators.

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Main Responsibilities of an Inventory Coordinator

The following list describes the typical responsibilities of an Inventory Coordinator:

Advise

Advise management of cycle count issues on a timely basis.
Advise, record and update all products and store holds.
Advise technicians on material delivery.
Advise the staff about how to maintain proper inventory controls.

Analyze

Analyze slow-moving or obsolete inventory and recommend appropriate actions.

Apply

Apply and manage the KANBAN program for items not related to manufacturing.

Assist in

Assist in selection of materials for purchase.
Assist in teaching / training how to ensure parts refunds are transacted and accounted for per SOP.
Assist in the completion of monthly Cycle Count program.
Assist in the continuous improvement and optimization of all analytics processes.
Assist in the development of action plans to deal with aged and slow selling programs.
Assist in the development of inventory-related budgets and cost control measures.
Assist in the execution of the inventory management tactics.
Assist operators and team members in improbing scrap process to ensure accuracy and efficiency.
Assist other departments with inventory management matters.
Assist Purchasing Mgr in determining items necessary to begin production.

Build

Build and maintain positive working relationships with store personnel.

Carry out

Carry out physical and cyclical accounts on a regular basis and monitor inventory discrepancies.

Check

Check adjustment sheets daily and investigate adjustments.
Check store returns, adjust inventory and advise operations to move stock to picking locations.

Collaborate with

Collaborate with management to develop long-term inventory management strategies.
Collaborate with other departments, such as sales and production, to forecast inventory needs accurately.
Collaborate with the purchasing department to place orders for replenishment.
Collaborate with the suppliers and resolve issues.

Combine

Combine data from various text delimited files.

Communicate

Communicate and coordinate any Return to Vendor shipments.
Communicate openly, honestly and frequently.
Communicate via e-mail / telephone.

Complete

Complete cost of goods sold (COGS) analysis and investigates inventory variances.
Complete the CNS entry at month end.
Complete the obsolescence provision at month end.

Conduct

Conduct analysis to identify gaps between current and end state goals (Needs assessment).
Conduct daily inventory management based on procurement and supply chain needs.
Conduct daily routine and reactive cycle counts and investigate any discrepancies.
Conduct physical and cyclical counts.
Conduct quarterly and annual inventory audits and monthly food log reporting.
Conduct regular audits to ensure compliance with inventory policies.
Conduct regular inventory counts and reconcile any discrepancies.
Conduct regular inventory performance evaluations and implement improvement strategies.

Control

Control, flow and reduce excessive inventory.

Coordinate

Coordinate and verify the entry of the article loading card in JDE.
Coordinate calendar changes between stores, Franchisees and 3rd party count company.
Coordinate inventory flow.
Coordinate the purchasing of materials ensuring timely delivery to meet all production schedules.
Coordinate with documentation partners to ensure that the conditions of credit are maintained.
Coordinate with install teams to move inventory and stage for shipment.
Coordinate with other departments to ensure smooth operations.
Coordinate with shipping and logistics teams to ensure timely order fulfillment.
Coordinate with shipping vendors as necessary.
Coordinate with suppliers and vendors to ensure timely delivery of goods.
Coordinate with the warehouse team to ensure efficient inventory handling.
Coordinate with Warehouse supervisor leads cycle count assistance.

Count

Count physical inventory and update computer.

Create

Create all daily reporting of cycle count results.
Create and maintain reports on inventory levels, stock movement, and turnover rates.
Create purchase orders both domestic and off-shore.
Create strong relationships with our clients and team members to create outstanding client execution.
Create weekly, monthly, quarterly sales with high lights, low lights and all insight.

Deliver

Deliver completed paperwork to the designated employee to complete the billing process.

Develop

Develop and implement strategies for inventory reduction and optimization.
Develop and maintain relationships with key suppliers and negotiate favorable terms.
Develop initiatives to reduce slow-moving inventories and improve weeks forward coverage.
Develop initiatives to reduce slow moving inventories and to improve inventory turns.
Develop material management workflows for EMR.
Develop standardized reporting for the business units using up-to date visualization tools.

Direct

Direct customer contact to facilitate scheduling and rescheduling as needed.

Document

Document results to ensure all applications developed meet quality standards.

Drive

Drive disposition of potential risk inventory and controls liquidation of outdated stock.

Educate

Educate individuals involved with issues to eliminate the problem going forward.

Engage with

Engage with nurses, nurse managers and other end users to discuss inventory concerns.

Ensure

Ensure 100% of required kits are delivered to Manufacturing before due date.
Ensure accuracy and control of completeness.
Ensure inventory record accuracy by performing specific inventory counts.
Ensure parts accepted into inventory meet AML quality standards.
Ensure that corrections to inventory procedures are followed.
Ensure the application of inventory policies to ensure the accuracy of the inventory.

Enter

Enter approved forecast adjustments at the detail level to align with the aggregate demand plan.
Enter daily breakage and repack transactions.
Enter data into the CMMS & generate reports.
Enter inter-plant transfers and adjusts inventories.

Establish

Establish clear accountability and provide the authority to achieve goals.
Establish the process of monthly reports for inventory needs.

Evaluate

Evaluate success measures and metrics to report on progress in achieving organizational priorities.

Expedite

Expedite backlog orders and delivery dates.

Facilitate

Facilitate store returns / recalls.

Follow

Follow applicable standard work, process documentation, and quality procedures.

Follow-up

Follow-up with clients on refilling prescriptions and educate them on available discounts.

Forecast

Forecast inventory needs based on historical data and upcoming demands.

Generate

Generate consistent profitable growth by providing innovative solutions and outstanding service.

Handle

Handle customer inquiries related to inventory availability and order status.

Help

Help ensure FIFO (first in first out) rotation throughout the facility.
Help sourcing team update sourcing intelligence (product formats, etc).

Identify

Identify and address inventory-related issues or bottlenecks in the supply chain.
Identify any spoiled products stored in inventory and bring to the attention of supervisor.
Identify control gaps and recommend appropriate remediation.
Identify risks in inventory control.
Identify risks to customer project delivery.

Implement

Implement and enforce safety procedures for handling hazardous materials or equipment.
Implement and follow inventory control procedures to minimize shrinkage or losses.
Implement and improve inventory management software and systems.
Implement and monitor a first-in, first-out (FIFO) inventory rotation system.
Implement process improvements in the areas of inventory, QA and purchase management.

Import

Import and export data from various data sources.

Input

Input of inventory shrinkage transactions.

Inspect

Inspect and quality check incoming inventory for damages or defects.

Interact with

Interact with inventory levels in Sage software based on physical findings in the warehouse.

Investigate

Investigate inventory variances against perpetual inventories.

Keep

Keep logs and records of warehouse stock, executed orders etc..

Know

Know the products that are available, including new items on the market.

Lead

Lead scanning accuracy program through daily physical verification and metric reporting.

Listen

Listen with empathy and represent the voice of the user.

Maintain

Maintain and develop relationships with existing vendors and source new suppliers when required.
Maintain and track the list of parts sent for repair.
Maintain correct inventory in warehouse.
Maintain inventory accuracy by conducting periodic stock checks.
Maintain inventory for the branch using the Lawson inventory module.
Maintain log of all invoices according to DEA and regulatory manager.
Maintain product and location integrity ensuring accuracy and efficiency for order assembly.
Maintain Weekly Cycle Count Spreadsheet.

Make

Make tactical decisions to make sure the team is moving forward.

Manage

Manage and track inventory flow at internal and external warehouses.
Manage business relationships with suppliers / vendors and customers (internal & external).
Manage cost control and obtain the lowest pricing.
Manage inventory transfer between departments.
Manage JDE related projects.
Manage non-stock inventory, requiring specialized ordering, decrementing and returning.
Manage product sales performance reports.
Manage the creation and receipt of raw material transfer orders.
Manage the creation of new inventory product codes within the ERP.
Manage the repair process for critical spares including repair PO creation.

Measure

Measure sales, create reports for DM, owners and salesmen.

Monitor

Monitor and audit product turnover, rotation and expiration dates.
Monitor and maintain accurate inventory records and databases.
Monitor driver logs for accuracy and potential violations.
Monitor expiration dates for over 250 raw materials to minimize destruct costs.
Monitor inventory health affecting customer projects.

Operate

Operate heavy equipment when leading staging and inventory moves as required.
Operate lift truck or hoist shipments from shipping and receiving platforms to the storage area.

Optimize

Optimize inventory storage and layout to maximize space utilization.

Order

Order and restock inventory.
Order materials for use by the technicians using the Lawson requisition module.
Order, receive and stock inventory orders for the hospital.

Organize

Organize and label inventory items for easy identification and retrieval.

Oversee

Oversee the disposal or recycling of damaged or unusable inventory.
Oversee the movement of new production, restages.
Oversee the practice manager when he or she orders office supplies and other inventory items.

Own

Own their product and is responsible for product success.

Package

Package, repackage, stack, palletize, wrap inventory as needed.

Perform

Perform Cycle Counts on schedule and publish reports of completed work daily.
Perform inventory adjustments as required.
Perform logistics and inventory management of company materials and goods.
Perform QA checks for graphics as defined by QA using supplied signed off samples.
Perform root cause investigations of cycle counts and inventory discrepancies.
Perform routine checks and cycle counts to ensure Inventory accuracy.
Perform work in the context of the departmental and company strategic plans.

Plan

Plan cycle counting goals, (weekly, monthly).

Prepare

Prepare and create purchase orders.
Prepare and distribute reporting in support of the business unit goals and objectives.
Prepare and review journal entries and G / L balance sheet reconciliations.
Prepare daily pre trip sheet for warehouse equipment and safety gear.
Prepare daily results for root cause analysis and trend identification.
Prepare monthly inventory adjustment reports.

Procure

Procure direct and indirect materials, and services to support manufacturing.

Promote

Promote safety as a core value to the organization.

Provide

Provide documentation through reports.
Provide high quality customer service to internal stakeholders\u0026nbsp.
Provide high quality mentorship to sales and risk support team members assigned to the portfolio.
Provide inventory support to Hardware Engineering and Deployment department.
Provide spare parts to the Engineering maintenance teams in a timely manner.
Provide the practice manager with a list of all expired drugs.

Pursue

Pursue operational excellence and quality in everything we do.

Reach

Reach with hands and arms.

Receive

Receive incoming shipments and verify the contents against purchase orders.
Receive, inspect, stock all shipments and record in company job cost system in a timely manner.

Reconcile

Reconcile raw and packaging material inventory based on returns from the production floor.
Reconcile all inventory accounts monthly and makes correcting entries as necessary.
Reconcile the cycle count variances and updates the inventory system.

Record

Record all work orders in the database.

Report

Report any Health and Safety issues to the department manager immediately.
Report any issues to supervisor.
Report generated on a weekly and on a required basis to maximize sales.
Report performance by publishing relevant KPIs.

Research

Research inventory issues / oddities and Identify the root cause.

Review

Review and analyze reports.
Review and track all audits performed on inbound and outbound loads.

Root

Root cause analysis of SAP / WMS inventory issues and resolution.

Set

Set re-order points at a sufficient level to prevent material shortages.

Solicit

Solicit feedback on implemented solutions with a drive to continuously improve.

Sort

Sort product based on size, vintage, varietals and product code.

Standardize

Standardize and process data.

Start

Start shift as early as 7am to prepare the day's orders prior to staff arriving.

Stay updated with

Stay updated with industry trends and best practices in inventory management.

Supervise

Supervise orders and arrange stocking of raw materials and equipment to ensure they meet needs.

Support

Support continuous improvement initiatives.
Support Manager / Supervisor and Inventory Control Department.
Support the procurement department for any ad hoc requests.

Take

Take ownership of all inventory and inventory systems.

Track

Track all information involved with our Nextel communications.
Track and assist with the coordination of scheduling residential and commercial installations.
Track and ensures accurate recording of all material substitutions made during production processes.
Track and manage inventory levels of raw materials, work in process, finished goods, and consignment.
Track damaged material, aged inventory and quarantine material.
Track flyer / event inventory.

Train

Train and supervise inventory staff to ensure proper procedures are followed.
Train the supply chain user group for JDE functions.

Understand

Understand basic medical terminology, abbreviations, and key medical terms.

Work with

Work with and support the team with regard to business decision-making.
Work with appropriate parties to ensure the right products are in the right place at the right time.
Work with counterparts to meet departmental KPI's.
Work with ERP system support and liaison groups to identify and resolve system issues.
Work with import team regarding inbound schedules and inventory shipped in error.
Work with management to ensure Dealersocket has the relevant information pertaining to each vehicle.

Wrap

Wrap / Strap / Band pallets.

Write

Write basic Excel formulas and apply to existing data.

Most In-demand Hard Skills

The following list describes the most required technical skills of an Inventory Coordinator:

Proficiency in inventory management software and database systems.
Knowledge of supply chain and logistics principles.
Familiarity with inventory control and tracking methods (e.g., ABC analysis, JIT).
Competence in using barcode scanners and RFID technology.
Understanding of inventory costing and valuation methods (e.g., FIFO, LIFO).
Knowledge of inventory forecasting and demand planning techniques.
Proficiency in using Microsoft Excel for data analysis and reporting.
Understanding of warehouse management systems (WMS) and their functionalities.
Knowledge of safety regulations and protocols for handling inventory.
Competence in conducting data-driven inventory analyses.
Proficiency in using ERP (Enterprise Resource Planning) software.
Understanding of cycle counting and inventory auditing procedures.
Knowledge of international shipping and customs procedures.
Competence in using inventory management metrics and KPIs.
Proficiency in interpreting and analyzing inventory reports.
Understanding of inventory replenishment methods and strategies.
Knowledge of industry-specific inventory management practices.
Competence in using inventory forecasting tools and software.
Proficiency in implementing inventory process improvements.
Understanding of data integration between inventory and other systems.

Most In-demand Soft Skills

The following list describes the most required soft skills of an Inventory Coordinator:

Strong organizational and time management skills.
Excellent attention to detail and accuracy in data handling.
Effective communication and interpersonal skills for collaborating with various teams.
Problem-solving and analytical abilities for addressing inventory-related challenges.
Adaptability and flexibility in a fast-paced and dynamic environment.
Ability to work well under pressure and meet tight deadlines.
Teamwork and collaboration skills for cross-functional coordination.
Leadership and supervisory abilities for managing inventory staff.
Proactive and self-motivated approach to inventory management.
Customer service orientation for addressing client inquiries and concerns.

Conclusion

In conclusion, Inventory Coordinators play a vital role in ensuring smooth and efficient inventory management within an organization. By possessing a combination of technical expertise, practical skills, and personal qualities, these professionals can effectively oversee inventory operations and contribute to the overall success of the supply chain.