Demand Planning and Inventory Manager

Overview: We are seeking an experienced Demand Planning and Inventory Manager who understands that effective demand planning is not just about managing inventory but optimizing every facet of production, resource allocation, and ensuring product availability aligns with customer expectations. This role is central to our mission of minimizing inventory carrying costs and avoiding stockouts, ultimately safeguarding our bottom line.

Role Significance: Demand planning stands at the core of successful inventory management. By accurately forecasting inventory demand, you will be instrumental in guiding our business decisions, ensuring we maintain the right inventory levels while reducing the risks associated with overstock and stock shortages. Your expertise will improve customer satisfaction, enhance sales, and prevent resource wastage, directly contributing to our profitability.

Key Responsibilities:

Demand Planning and Forecasting

• Forecast Accuracy: Utilize historical sales data, market trends, and consumer behavior analysis to improve the accuracy of product demand forecasts.
• SKU Management: Oversee the forecasting process for a diverse range of SKUs, adjusting for seasonal variations and market dynamics.
• Collaborative Planning: Work closely with sales, marketing, and operations teams to integrate promotional plans and strategic initiatives into demand forecasts.
• Method Selection: Apply the most effective forecasting methods (e.g., moving averages, exponential smoothing, trend projection) tailored to each product category.
• Demand Sensing: Quickly adapt to short-term market changes by incorporating real-time sales and market feedback into demand planning.
• Budget: Adhere to budget set by Finance. Recommend changes based on identified changes in forecast and trends

Inventory Optimization

• Optimal Stock Levels: Determine the right quantity of stock for each product, balancing the need to meet demand with the goal of minimizing carrying costs.
• Safety Stock Strategy: Calculate and maintain safety stock levels to protect against supply chain disruptions and demand variability.
• Inventory Health Monitoring: Regularly review inventory turnover rates and shelf-life to ensure inventory remains healthy and minimize obsolescence.
• Replenishment Planning: Use demand forecasts to schedule timely replenishment, avoiding stockouts and overstock situations.
• Work Orders: Direct the planning of inhouse assemblies including identify SKU, lot numbers, quantity to assemble, headcount needed to perform task and calendar assembly
• Quality Control: Implement strict quality control measures for incoming inventory to maintain product standards and customer satisfaction.

Advanced Analytics

• Data-Driven Insights: Leverage advanced analytics to extract actionable insights from inventory and sales data, identifying opportunities for optimization.
• Predictive Modeling: Employ statistical models and machine learning algorithms to predict future demand patterns and inventory needs.
• Performance Tracking: Develop dashboards and reports that track key performance indicators (KPIs) related to inventory management and forecast accuracy.
• Risk Analysis: Analyze supply chain vulnerabilities and perform scenario planning to prepare for potential disruptions.
• Process Automation: Utilize technology to automate repetitive tasks in the demand planning and inventory management processes, increasing efficiency and accuracy.

Inventory Management

• Create item in system including all attributes: length, width, height, (metric & royal) weight (metric & royal), packaging specs (inner, master, pallet), ti-hi

• Drive cycle counts and annual physical inventory at Fulfillment Center and Contract Manufacturers
• Drive preparation of new product launch
• Drive sunset of inventory that is discontinued or obsolete

• Monitor inventory expiration dates and make necessary recommendations

Leadership & Management

• Work collaboratively with Sourcing Manager to manage all aspects associated to inventory management
• Work collaboratively with Fulfillment Center Manager on various aspects related to inventory control, kitting, assembly, demand, special orders, projects
• Create and foster a synergic environment with Marketing and Product Development to collaboratively support the development of products from 'idea to ready to ship'
• Effective project manager who can multitask various events and successfully complete within prescribed time
• Support B2B and D2C operations to ensure reporting and communication to fulfillment center is agile and consistent
• Create and update SOPs and training material for various processes and assemblies
• Support Director of Operations on various projects related to inventory, processes, systems, technology and solutions that will help the Vitality brand remain long term viable and sustainable
• Support CEO and executive team on all efforts to drive the business towards established goals

Knowledge, Experience, Credentials

• 3 to 5 years of demand planning, forecasting and budgeting
• 3 to 5 years of relevant project management experience
• Experienced in NetSuite using all functions relevant to position as well as using various data mining features
• Must know Excel at highly analytical levels: pivot tables, v lookups, logical expressions that help mine data to obtain information that helps make sound business decisions
• In depth understanding of item structure, master date, assembly bill of materials, item parent/child relations
• Excellent project management and organization skills
• Strong communication; verbal, written and presentation skills
• Deep attention to detail
• Strategic thinker
• Thrives in an entrepreneurial, start up environment that is fast paced and rapid changing
• Bachelors degree in Supply Chain, Business Administration or Finance