What are the responsibilities and job description for the Inventory Lifecycle Specialist position at NEFCO Construction Supply LLC?
Description
Job Summary: The Inventory Lifecycle Specialist is responsible for identifying, analyzing, and reducing aged or obsolete inventory across NEFCO’s distribution network. This role will focus on minimizing inventory carrying costs, redistributing stock efficiently, and collaborating with suppliers and internal teams to implement proactive prevention strategies. The ideal candidate combines analytical skills with operational insight to ensure optimal inventory health across all branches.
Key Responsibilities:
- Monitor and Analyze Inventory: Track current stock levels, identify slow-moving or obsolete items, and analyze sales data to forecast demand and anticipate potential dead stock.
- Redistribute Regional Inventory: Transfer inventory across Distribution Centers to prevent the accumulation of regional dead stock and balance stock availability.
- Develop Prevention Strategies: Implement stock control measures to prevent overstocking, optimize inventory levels, and leverage inventory management systems to maintain accuracy.
- Implement Stock Rotation and Sales: Create and execute strategies to move slow-moving items—through discounting, bundling, or alternative sales channels—before they become obsolete.
- Supplier Collaboration: Partner with suppliers to return or exchange dead stock materials, often balancing returns with offsetting purchases of current goods.
- Warehouse Operations: Coordinate with warehouse teams to ensure efficient stock flow, accurate record-keeping, and proper storage practices.
Requirements
Key Skills and Competencies:
- Proficiency with inventory management systems and ERP tools
- Strong data analysis and demand forecasting ability
- Strategic planning and organization
- Negotiation and supplier relationship management
- Problem-solving and decision-making
- Knowledge of inventory control and warehouse operations
Qualifications:
- Bachelor’s degree in Supply Chain Management, Business, or related field preferred
- 3 years of experience in inventory management, logistics, or supply chain operations
- Advanced Excel and reporting skills required