Store Incharge

Purpose/Objective

• The Head Stores is responsible for overseeing the entire stores function within the manufacturing plant, ensuring the efficient management of inventory, materials, and supplies.
• This role involves strategic planning, inventory optimization, and coordination with procurement, production, and logistics to support uninterrupted plant operations.
• The Head Stores ensures that all processes align with safety, compliance, and corporate governance standards.

Key Responsibilities of Role

Inventory Management and Optimization:

• Develop and implement strategies for effective inventory management, ensuring optimal stock levels to meet production needs without overstocking.
• Monitor inventory turnover rates and adjust purchasing and storage strategies accordingly.

Team Leadership and Development:

• Lead and manage the stores team, including training, mentoring, and performance evaluation.
• Foster a culture of continuous improvement and accountability within the team.

Coordination with Procurement and Production:

• Work closely with the procurement team to ensure timely availability of materials and supplies.
• Coordinate with production managers to align inventory levels with production schedules and requirements.

Compliance and Safety Management:

• Ensure that all stores operations comply with safety regulations, including proper storage of hazardous materials.
• Conduct regular safety audits and implement corrective actions to mitigate risks.

Logistics and Material Handling:

• Oversee the logistics of material handling within the plant, ensuring efficient movement of goods from storage to production lines.
• Optimize warehouse layout and material flow to enhance operational efficiency.

Budget and Cost Control:

• Develop and manage the stores budget, focusing on cost-effective inventory management and minimizing waste.
• Monitor expenses related to inventory, storage, and logistics, ensuring alignment with financial targets.

Risk Management and Internal Controls:

• Implement and monitor internal controls to prevent inventory discrepancies, theft, and fraud.
• Conduct regular audits and reconciliations of inventory records to ensure accuracy.

Vendor and Supplier Management:

• Maintain strong relationships with key suppliers to ensure reliable supply of materials.
• Negotiate contracts and terms with vendors to secure favorable pricing and delivery conditions.

Reporting and Documentation:

• Maintain accurate records of all inventory transactions, including receipts, issues, returns, and adjustments.
• Prepare regular reports for senior management, providing insights into inventory performance, costs, and areas for improvement.

Ethical Standards and Corporate Governance:

• Uphold the organizations commitment to ethical behavior and corporate governance, ensuring that all stores operations are conducted with integrity and transparency.

Education Qualification:

• Bachelor's or Master's degree in Supply Chain Management, Industrial Engineering, Business Administration, or a related field.

Work Experience:

• 5+ years of experience in inventory management, warehousing, or logistics, with at least 3 years in a leadership role within a manufacturing or industrial setting.

Industry Knowledge:

• Expertise in inventory optimization techniques, warehouse management systems (WMS), procurement coordination, material handling logistics, safety and compliance regulations, budget management, supplier relationship management, and experience with ERP systems (e.g., SAP, Oracle) for inventory management.