Inventory Specialist
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Job summary
The Inventory Specialist will be responsible for effectively managing and controlling the company's raw materials, work-in-progress, finished goods, spare parts, and other inventory items. The role involves maintaining accurate inventory records, monitoring stock levels, conducting physical stock counts, reducing inventory losses.
Min Qualification:
HND
Experience Level:
Mid level
Experience Length:
4 years
Language Requirement:
English
Working Hours:
Full Time - 8 to 5
Applicant Location:
Lagos, Nigeria
Job descriptions & requirements
Responsibilities:
- Maintain accurate records of raw materials, components, finished products, and consumables.
- Monitor inventory levels and ensure timely replenishment of stock.
- Conduct regular physical stock counts and reconcile variances against system records.
- Investigate and resolve inventory discrepancies, damages, shortages, and excess stock.
- Work closely with Procurement, Production, Stores, Finance, and Logistics teams to ensure efficient inventory management.
- Monitor materials usage against Bill of Materials (BOM) and production requirements.
- Implement appropriate stock control methods, including FIFO and minimum/maximum stock levels.
- Track slow-moving, obsolete, damaged, and excess inventory and recommend appropriate action.
- Ensure proper identification, labelling, storage, and preservation of inventory.
- Prepare regular inventory reports covering stock levels, variances, consumption, and valuation.
Requirements:
- A minimum of 3 years of experience
- A minimum of an HND in a related field
- Strong inventory control and reconciliation skills
- Excellent attention to detail
- Data analysis and reporting
- Stock forecasting and replenishment
- Warehouse management knowledge
- Good knowledge of Excel and inventory/ERP software
- Problem-solving and analytical thinking
- Ability to identify and prevent stock losses
- Strong documentation and record-keeping
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