About Lowe's
Lowe’s is a FORTUNE® 100 home improvement company serving approximately 16 million customer transactions a week in the United States. With total fiscal year 2024 sales of more than $83 billion, Lowe’s operates over 1,700 home improvement stores and employs approximately 300,000 associates. Based in Mooresville, N.C., Lowe’s supports the communities it serves through programs focused on creating safe, affordable housing, improving community spaces, helping to develop the next generation of skilled trade experts and providing disaster relief to communities in need. For more information, visit Lowes.com.
Lowe’s India, the Global Capability Center of Lowe’s Companies Inc., is a hub for driving our technology, business, analytics, and shared services strategy. Based in Bengaluru with over 4,500 associates, it powers innovations across omnichannel retail, AI/ML, enterprise architecture, supply chain, and customer experience. From supporting and launching homegrown solutions to fostering innovation through its Catalyze platform, Lowe’s India plays a pivotal role in transforming home improvement retail while upholding strong commitment to social impact and sustainability. For more information, visit Lowes India
About The Team
The Inventory Reconciliation Team is responsible for conducting comprehensive audits of inventory at Lowe's retail stores and Distribution Centers (DCs). These audits are performed after the U.S.-based teams have completed their physical inventory counts. The primary objective of the reconciliation process is to identify discrepancies—commonly referred to as shrinkage—between the recorded and actual inventory levels. Shrinkage may occur due to a variety of factors, including operational errors, theft, damage, or data inaccuracies. The professionals who carry out these audits are known as Inventory Auditors. Their role involves thoroughly investigating the root causes of shrinkage and implementing corrective actions aimed at minimizing future inventory loss and ensuring the accuracy of inventory records.
Job Summary
- Conduct audits of Lowe's inventories to identify and resolve shrinkage.
- Auditors perform audits after U.S. team completes physical inventory audits every Wednesday.
- Work with Physical Inventory Managers to access system updates and extract necessary reports for audits.
- Strong auditing and analytical skills to interpret store and DC system data.
- Understand store functions, from product ordering to customer sales, to identify shrinkage causes.
- Ability to visualize store processes and make informed judgments for effective auditing.
- Communicate audit requirements clearly to store teams and guide them in resolving discrepancies.
- Educate store teams about shrinkage issues and provide guidance on investigation and resolution.
- Take initiative to ensure corrective actions are completed promptly, closing audits accurately.
Roles & Responsibilities
Core Responsibilities:
- The auditor should understand the process of Store/DC audits and should be that they are proficient in completing audits with minimal direction, within the targeted TATs, within 6 months of joining the team.
- Should have a good understanding of the impacts of RQA and ICB adjustments on audit results.
- The auditor should have good understanding of research and investigating of the focus items of the store and should update the PSR file with relevant comments of the investigation.
- Auditor should follow all the procedures laid out for the doing the investigation and research of the focus items.
- Should have knowledge of making the required adjustments on the store inventory.
- The auditor should be responsible for doing the audits from start to end (sending out intro mails to doing closeouts).
- The auditor should quickly escalate to their seniors/ leads for any issues or clarifications on the audits.
- The auditor should complete the audits assigned within 2 weeks/3 weeks from the match date. (90% in 2 weeks and 100% in 3 weeks)
Years Of Experience
- 6 to 8 years of work exp. Preferably in retail business.
Education Qualification & Certifications (optional)
Required Minimum Qualifications
Skill Set Required
Primary Skills (must have)
- Good communication skills and articulate skills
- Must be from accounting background.
- Must have the knowledge on the Inventory audits/ AP and PO corrections/Shrinkage/ DB.
- Should have good excel skills.
- Should be able to process the huge volumes on quantity corrections or Interco Shipments.
- Should be a quick learner and should be able to Analyze and investigate the issues on Store/DC transactions.
Secondary Skills (desired)
- Should be from Retail industry having knowledge of retail operations.
- Should have worked on Inventory Audits or have used DB.
- Should have the knowledge of Shrinkage reduction, PO corrections, Impact of wrong entry in to Stores system.
Lowe's is an equal opportunity employer and administers all personnel practices without regard to race, color, religious creed, sex, gender, age, ancestry, national origin, mental or physical disability or medical condition, sexual orientation, gender identity or expression, marital status, military or veteran status, genetic information, or any other category protected under federal, state, or local law.
Starting rate of pay may vary based on factors including, but not limited to, position offered, location, education, training, and/or experience. For information regarding our benefit programs and eligibility, please visit https://talent.lowes.com/us/en/benefits.
