Specialist - Inventory Reconciliation

About the Team

The Inventory Reconciliation Team performs audits of Lowes Stores and DCs inventories and identifyand resolve the Shrinkage caused due to various reasons. The specialist doing the audits are calledInventory auditors. Team performs audit of Stores or DCs after US team completes physical inventoryaudits. They are expected to resolve/reduce the shrinkage on inventory.

Job Summary:

• The primary purpose of this role is to perform audits of Lowes inventories and identify andresolve the Shrinkage caused due to various reasons.
• The specialist doing the audits are called Inventory auditors. Auditors perform audits of Storesor DCs after US team completes physical inventory audits on every Wednesday.
• Physical Inventory managers update the system with their findings and post that Inventoryauditors need to extract various reports and access various systems to get the data to performthe audits.
• The inventory auditor need to have an excellent auditing and analytical skills to understand thedata recorded in the stores system and DCs and perform the audits.
• Should be able to understand the operational functions of the stores from ordering the productto selling it to the customer.
• Should be able to visualize and make good judgement of the store process in order to performthe audits.
• Should have a good communication skill to communicate with the stores team and be able tomake them understand the requirements of the audits and also should be able to get theinventories corrected in case of discrepancies.
• Should be able to make stores team aware of the shrink situation of their store and should guidethe store thoroughly to investigate and resolve the shrink.
• Should be very pro-active in approaching the stores team and getting the required rectificationdone on time on inventories and close the audits with accuracy.

Roles & Responsibilities:

Core Responsibilities:

Key Responsibilities

• The auditor should understand the process of Store/DC audits and should be that they areproficient in completing audits with minimal direction, within the targeted TATs, within 6 monthsof 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 researchandinvestigatingofthefocusitems 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 ofthe 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 mailsto doing closeouts).
• The auditor should quickly escalate to their seniors/ leads for any issues or clarifications on theaudits.
• 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:

• 4 to 6 years of work exp. Preferably in retail business.

Education Qualification & Certifications (optional)

Required Minimum Qualifications:

• Bachelors degree

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 onStore/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 toStores system

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