Stock Planner

Job Description

Job Summary: We are seeking an Inventory Planner or Stock Controller, who will be responsible for managing inventory levels, ensuring that there is enough stock to meet a demand without overstocking. Here are the key roles and responsibilities of a Stock Planner: 1. Inventory ManagementForecasting: Analyzing sales data and trends to predict future demand and help in planning inventory needs. Stock Replenishment: Ordering stock based on demand forecasts, ensuring that stock levels are adequate but not excessive. Stock Control: Monitoring stock levels, ensuring that inventory is stored and rotated properly to prevent wastage (especially for perishable goods). Reordering: Maintaining optimal inventory by placing reorders in time to avoid shortages and ensuring the right stock is available at the right time. 2. Demand PlanningAnalyzing Sales Trends: Using historical data and market trends to predict future demand for products. Managing Lead Times: Understanding the lead times for orders and factoring them into the planning process to ensure timely delivery. 3. Supplier CoordinationSupplier Communication: Working closely with suppliers to ensure timely deliveries, negotiate prices, and manage stock orders. Managing Supplier Relationships: Building strong relationships with suppliers to ensure consistent and high-quality stock. 4. Data Analysis & ReportingInventory Reports: Generating regular reports on stock levels, sales performance, and trends to assist with decision-making. Performance Metrics: Tracking key performance indicators (KPIs) like stock turnover, stockouts, and excess inventory, and identifying areas for improvement. 5. Optimizing Stock LevelsMinimizing Overstocking & Stockouts: Balancing inventory levels to reduce costs (overstocking) and lost sales (stockouts). Stock Rotation: Ensuring that older stock is used first, particularly important in industries like food, fashion, and electronics. 6. Collaboration with Other DepartmentsSales and Marketing: Collaborating with the sales and marketing teams to understand promotions, seasonal demands, and other factors that may influence inventory needs. Warehousing: Coordinating with warehouse teams to ensure proper storage and easy accessibility of stock. Finance: Working with the finance team to ensure inventory budgets are adhered to and forecasting aligns with financial goals. 7. Inventory Audits and ReconciliationStock Audits: Regularly auditing stock levels to ensure physical inventory matches the records. Reconciliation: Identifying and addressing discrepancies between actual and recorded stock. 8. System ManagementInventory Management Systems: Using inventory software (e.g., ERP systems) to track stock, generate reports, and maintain accurate data. Automation: Implementing automated systems where possible to streamline the ordering, tracking, and replenishment processes. 9. Cost ManagementCost Control: Managing costs related to inventory, including storage, handling, and procurement expenses. Budgeting: Working with finance to develop and manage the stock planning budget. 10. Risk ManagementProduct Life Cycle Management: Monitoring the shelf life of products and managing the risks associated with obsolete or expired stock. Market Fluctuations: Adjusting stock levels based on market conditions, including price changes or disruptions in supply chains.