Inventory Management Specialist

Job Title: Inventory Management Specialist

As an Inventory Management Specialist in a pharmaceutical company, you will oversee and manage the inventory of pharmaceutical products and supplies to ensure efficient stock management and uninterrupted supply chain operations.

Key Responsibilities

Inventory Planning & Forecasting

• Analyze historical sales data, market trends, and customer demand to forecast inventory requirements.
• Collaborate with sales and marketing teams to align inventory levels with demand forecasts.
• Develop inventory planning strategies to optimize stock levels and minimize holding costs.

Procurement & Replenishment

• Coordinate with suppliers and procurement teams to place purchase orders.
• Monitor supplier performance and resolve delivery discrepancies.
• Ensure timely replenishment of inventory to prevent stockouts.

Inventory Control

• Maintain accurate inventory records including batch numbers, expiry dates, and lot numbers.
• Conduct regular physical inventory counts and reconcile discrepancies.
• Monitor stock levels and take corrective action for shortages or excess inventory.

Warehouse Management

• Optimize warehouse organization and storage layout.
• Ensure proper storage conditions in compliance with pharmaceutical regulations.
• Coordinate with warehouse staff for accurate picking, packing, and dispatch.

Documentation & Reporting

• Maintain detailed inventory records and stock movement logs.
• Generate inventory reports and performance metrics.
• Provide recommendations to improve inventory processes.

Compliance

• Ensure adherence to GMP, GDP, and other applicable pharmaceutical regulations.
• Stay updated on industry compliance requirements.

Requirements

• Bachelor’s degree in Supply Chain Management, Logistics, or related field.
• Prior experience in inventory management, preferably in the pharmaceutical industry.
• Strong understanding of inventory control principles.
• Familiarity with ERP systems and inventory management software.
• Knowledge of pharmaceutical quality and regulatory standards.
• Excellent analytical, organizational, and problem-solving skills.
• Strong communication and teamwork abilities.

Skills: management,inventory management,inventory control,inventory planning