Inventory Controller
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Key skills for this role
About the Role
Key Responsibilities: Stock Verification Generate a store-wise negative stock report and share it with stores for system adjustment after confirmation. Review the store-wise report to identify any common discrepancy root causes.
Key Skills for This Role
Full Job Posting
Stock Verification
- Generate a store-wise negative stock report and share it with stores for system adjustment after confirmation.
- Review the store-wise report to identify any common discrepancy root causes.
- Keep a weekly tracker to review the result progress.
Inventory Management
- Ensure stores receive stock in the system (Stores and Warehouse) on time and update it with actual quantities.
- Highlight any pending transfers exceeding the acceptable timeline.
- Monitor all IN and OUT transfers and check for any incorrect entries or receiving issues.
- Highlight any negligence in the process and take necessary action
- Conduct weekly cycle counts and adjust variances after review and approval.
- Monitor high variances and identify the root causes.
- Generate the monthly inventory aging report.
- Adjust all wholesale samples after review.
Store Operations
- Plan stock movement for closed stores as per the deadline.
- Conduct store closing stock counts to assess stock loss.
- Generate the weekly Online (OTO) out-of-stock order cancellation report.
- Review if any stock is repeatedly recorded as out-of-stock, leading to order cancellations and communicating the report to the Online team for further action.
- Communicate the quality issue stock details with stores and maintain a tracker and ensure stores return stock to Warehouse.
- Follow up with the buying team for credit notes and complete write-offs after receiving vendor credit notes and finance approval.
- Collect monthly damage reports from stores and warehouse.
- Follow up with stores to return damaged stock to Warehouse on monthly basis and ensure no hidden damage.
- Ensure quality issue stock is excluded from monthly damage reports.
- Complete system write-offs after review and necessary approvals.
- Highlight any abnormal damage reported by stores.
- Complete monthly write-offs for store-wise used testers.
- Review and share the report with stores (Tester Consumption vs. Sales).
- Generate month of non-saleable stock for both store and warehouse.
- Complete write-offs for non-saleable items based on store and warehouse consumption.
- Review reports and communicate with stores for any required action.
- Complete monthly write-offs for VM samples and marketing requirement stock.
- Clear all pending transfers and review if reverse transfers are required.
- Schedule the annual stock count plan for both stores and warehouse.
- Submit results for further necessary approvals.
- Plan monthly store and warehouse visit plan.
- Review if there are any process gaps related to shrinkage and damage.
- Conduct random checks of store and warehouse physically damaged stock and verify that the actual damage and damage reasons are the same.
Job Requirement
- This includes generating and reviewing negative stock reports, identifying root causes of discrepancies, and ensuring timely system adjustments.
- Ensuring accurate receiving and identifying any pending transfers or incorrect entries.
- Conducting regular cycle counts, investigating high variances, and managing monthly inventory aging reports.
- Store operations support in loss prevention. This encompasses planning stock movements for store closures, assessing stock loss during these events, and managing online order cancellations due to out-of-stock situations.
- The role is heavily involved in the lifecycle of quality issue stock, damaged goods, and non-saleable items, from tracking returns to warehouses, processing write-offs, and ensuring proper financial approvals.
- Regular store and warehouse visits are essential to identify process gaps related to shrinkage and damage, conducting physical checks to verify reported damages.
Required Skills Needed
- ***Analytical & Investigative:***
- Root cause analysis, discrepancy identification, data interpretation for operational insights.
- ***Attention to Detail:***
- Meticulous record-keeping, accuracy in stock adjustments, precise tracking of damaged/non-saleable items.
- ***Technical:***
- Proficiency in inventory management systems (ERP/WMS), advanced Microsoft Excel for reporting and tracking.
- ***Communication & Collaboration:***
- Clear communication with store, warehouse, online, buying, and finance teams; ability to highlight negligence and drive action.
- ***Operational Compliance:***
- Understanding and enforcement of inventory procedures, loss prevention best practices.
- Years of experience:
- Minimum 2-3 years of experience in similar capacity preferably within retail apparel sector or similar field.
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