Who is the inventory controller?
An Inventory Controller is a responsible person for stock-keeping in the organization. This stock-keeping activity includes recording purchase and sale of items, counting balance items, generating stock reports, maintaining database records of all transactions and maintaining safe stock levels.
What do inventory controllers do?
Every Inventory Controller carries out the following key tasks,
- Set up inventory control procedures & system
- Manages all incoming & outgoing stock such as receipts and dispatches.
- Records all transactions & movements in document and database record form
- Keeps & verifies daily stock levels
- Generates stock demand & forecasting reports
- Analyzes and resolves problems in the supply chain
- Performs physical cycle count of inventory.
Job duties and responsibilities depend on the organization’s inventory environment and how much crucial it is for the company. Produce and supply type company needs responsible inventory control staff to do inventory management. The inventory controller is one of them who is responsible for inventory management.
Every company has stock and inventory. Inventory is invested money. And, managing inventory is indirectly managing company capital and budget. Good inventory management benefits the optimal capital requirement and easy finance management.
Purchase and business strategy decisions depend on demand and stock reports. And, so Inventory controller is responsible to produce demand forecasts and adequate stock levels report. He has to always keep an eye on expiring items and the items near safe buffer stock.
Duties and responsibilities of inventory controller
When any company post vacancy for an Inventory controller post. Duties and responsibilities could be as follows,
Example -1 :
In this job your key responsibilities and duties will be to,
- Monitors and maintains current inventory levels; rises and processes purchasing orders as required; tracks orders and investigates and solve problems.
- Records purchases made, maintain transactions in the database, regularly perform a physical inventory count, and reconciles actual stock count to computer-generated reports.
- Receives, unpacks, and delivers goods; re-stocks items as necessary; labels shelves. Improve space management.
- Generate, process and/or approves invoices for payment as per terms.
- Check and process documents of business transactions as per established procedures.
- Performs routine clerical duties, including data entry, answering telephones, and assisting customers and other company staff.
- May serve as a cashier and handle cash and cash-related payments.
- May lead, guide, and train staff/student employees, interns, and/or volunteers performing related work; may participate in the recruitment of volunteers, as appropriate to the area of operation.
- Performs miscellaneous job-related duties as assigned.
Example – 2 :
As an inventory controller, you will be responsible for,
- Inventory usage and control, including cycle counts/stock take
- Stock location-allocation and tracking
- Stock movements and adjustments
- Investigate and solve inventory discrepancies with timely solutions
- Maintain sound stock control processes
- Process spare parts customer orders
- Receiving and dispatch
- Monitor and manage inventory min/max order points
- Organise and maintain store for optimum efficiency
- Arrange freight requirements for goods inwards and outwards, including goods receipt and transfers
- Manage and process customer returns and redelivery process, including warranty claims
- Comply with new and existing Quality Management System Procedures
- Ensure goods are accurately receipted into JIWA within 24hrs of arrival
- Ensure payment before delivery of goods
Example – 3 :
- Combination of warehouse floor work and computer work in excel / WMS
- High Reach Forklift
- Forklift loading and unloading
- Run inventory reports and investigate variances
- Review the previous day’s stock adjustments
- Review warehouse capacity reports
- Inventory reconciliations
- Stock returns
- Cycle counts (including but not necessarily in a scissor lift)
- Review product damages
- Key in pallet dockets
- Review pallet discrepancies and report
Example – 4:
- Schedule and plan for the Yearly Stock count in coordination with the regions
- Oversee inventory and supply chain management according to company guidelines
- Perform critical inventory tasks in IM and WM systems to ensure the correct amount of items are in stock
- Review documentation and monitor product codes to search for discrepancies; troubleshoot quantity discrepancies between stock and records
- Develop and implement improvements to existing operational procedures in order to maximize efficiency and cut operations costs
- Prepare, generate and file financial inventory reports regularly; review reports monthly with upper management
- Coordinate with the region responsible for completing the scheduled counts on time within SLA
This example will help you to build up your resume. It will give you a clear idea of which points you should focus on. However, you must consider the company’s requirements before sending them your resume. Enough number of requirements may differ in different companies.