Vice President of Inventory Job Description Template

Job Overview

The VP of Inventory Management is a strategic purchasing, inventory management, sourcing, and procurement leader, ensuring key objectives are met to support Global Industrial’s strategy and business plans.

This role will be an advisor and a confidant to the C -Suite and other business leaders. You will provide insights into what is going on in the business, make suggestions for improvement to the financial results and operations of the company and provide visibility as to where the business is headed.

As our leader in purchasing you will create and spearhead inventory strategies to achieve optimal customer fill rate with minimal inventory. These strategies should assist you with, predicting revenue gaps as well as forecasting future inventory gaps.

Responsibilities

  • Responsible for strategic planning, direction and overall performance of the Purchasing and Inventory Management Operations.
  • Assist the Executive team in planning, budgeting, financial and human resource decisions to enable the organization to reach company goals and objectives.
  • Provide leadership, direction, and motivation to the Purchasing and Inventory management team to successfully and effectively work to accomplish operational goals and to ensure optimum performance.
  • Delegate responsibilities between functional managers to achieve optimal operating results and continuous improvement.
  • Develop the budget, ensure adherence to the budget, and take corrective action as required.
  • Lead performance improvement programs throughout the supply chain using overall leadership experience and play a key role in the implementation of Continuous Improvement techniques throughout the organization.
  • Responsible for managing the Turns and Customer Fill Rate goals for the company.
  • Develop cross-functional relationships external to the Purchasing and Inventory operations to achieve goals and identify improvement opportunities.
  • Direct efforts to improve profitability through cost reduction, cost avoidance, and process improvement/loss prevention.
  • Develop and deliver presentations to executive management.
  • Direct regular staff meetings to ensure communication of strategy and resolution of issues.
  • Manage significant cross-functional projects to ensure goals and timeline are met.
  • Manage and monitor key performance metrics and ensure that all checks and balances are in place and operational.
  • Participate in special projects and perform additional duties as required.

Requirements

  • Bachelor’s Degree in Science or Business is required. MBA is preferred.
  • Minimum of ten years experience in Inventory and Purchasing Management.
  • Minimum of 5 years in progressively larger and more complex leadership positions.
  • Strong knowledge and project management experience in the areas of product forecasting, demand planning and inventory replenishment processes and systems.
  • Significant time spent in geographically dispersed businesses known for effectively managing high transaction volume and SKU counts.
  • Experience in International Supply Chains Management is a plus.
  • Comprehensive knowledge of business operations and strategic planning skills required.
  • Excellent leadership, analytical, mathematical, computer, and organizational skills required.
  • Skilled in creative problem solving techniques including quantitative and optimization modeling and analysis.
  • Ability to set and analyze budgets, the business plan and capital expenditures required.
  • Excellent oral and written communication skills required.
  • Successful track record in managing the effective deployment of resources, systems and personnel to enable the achievement of organizational objectives and support the overall growth of the company.
  • Extensive negotiation and human relations skills are required.