Inventory Control is a Pivotal Aspect of the Supply Chain Process
Ask almost any consumer and they can likely recall and recount a situation in which they were frustrated by a supplier who was out-of-stock on a specific product. And the extent of their frustration, as well as the level of emotion on display as their story is being told, are often directly influenced by the amount of effort invested in the buying process, the need/urgency to acquire it, and/or the volume of advertising that drew their interest to that particular retailer/merchant.
By and large, buyers do not want rain checks when an advertised item is sold out, nor do they want excuses from the seller as to why the product is unavailable; they just had a need that they expected the vendor to satisfy but merely found disappointment instead. The fact that they can provide such a detailed and emotional account of that experience to a third party also attests to their current stance/position on recommending that seller to the listener, or to anyone else for that matter.
From a supplier or vendor perspective, the cost of being out-of-stock is more than a lost sale; customer dissatisfaction can have a lasting negative effect on the company’s future revenues. But the opposite situation can be just as detrimental; in other words, having too much stock on hand also affects profitability and precludes a company from investing in growth strategies and/or competing in existing markets.
This is why inventory control is such a pivotal responsibility in an organization; inventory control involves coordination and management of the supply, storage, distribution, and cataloguing of stock to maintain adequate quantities at all times and produce maximum profit without negatively impacting customer satisfaction – certainly a delicate balancing act.
Based on the nature of the business and the size of the company, the job description for an inventory control specialist can emphasize a number of responsibilities, including but not limited to:
- Accurate monitoring, ordering, and storage of inventory
- Receiving or supervising the receipt of incoming deliveries
- Matching all purchase order specifications to goods received
- Developing/implementing inventory management procedures
- Manual or automated counting and recording of on-hand stock
- Hiring, training, supervising, supporting inventory control clerks
- Cost control – capital investments, operational, and administrative
- Maintaining an efficient flow of units in and out of existing inventory
- Increasing/expediting inventory turnover without compromising service
Although the minimal educational requirement for inventory control specialists would be a high school diploma, many employers, especially those in medium to larger-size firms, will prefer to consider potential candidates who have an associate’s or bachelor’s degree in one of the following disciplines:
- Inventory Management
- Logistics and Supply Chain Management
Employment opportunities for an inventory control specialist are predominantly full-time roles within a wide range of organizations and industries such as the following:
- Government Departments
- Health Care/Pharmaceuticals
- Supply Chain Management Consulting
- School Boards; Post-Secondary Institutions
Although the demands placed on an inventory control specialist can be/are rather high, the job is pivotal within any business and within the overall supply chain process as well. As a result, employers require and rely on such specialists to contribute to the success of their organizations, thereby making inventory control a viable/sustainable career option.
Consult with a Placement Professional When Seeking Work in Inventory Control
For those interested in pursuing employment as an inventory control specialist, it may be prudent to consult with an experienced consultant from a placement agency like Winters Technical Staffing in Toronto.
For more than 40 years, the placement professionals at Winters Technical Staffing have successfully fulfilled the staffing requirements of employers within Toronto and the GTA, including those in need of supply chain-related staff such as inventory control specialists. Throughout that time, Winters Technical Staffing consultants have developed/maintained strong working relationships with hiring managers from a wide cross-section of Toronto-area employers, and who will in turn often call upon these specialists to coordinate their recruiting efforts for qualified inventory control specialists.
Contact Winters Today
For professional direction and support in your efforts to launch or advance your career as an inventory control specialist, call the staffing experts from Winters Technical Staffing today at 1-877-495-7422 to request your complimentary consultation.