The inventory specialist can be found working in different industries and is primarily responsible for keeping and maintaining the stock levels of inventory items. The inventory specialist responsibilities include maintaining the integrity of the inventory as well as its accuracy, doing spot checks and verifying that all the purchase orders have been received on time.
This professional generally functions under the supervision of some senior materials supervisor and is engaged in performing various duties like receiving, issuing, handling and accounting the inventory stocks of the organization he/she is working for.
Apart from the above tasks, the inventory specialists are responsible for reconciling the weekly inventory reports and ensuring that all the negative balances are corrected. They ensure cleanliness of the warehouse and make sure that all the safety standards are being adhered to.
They maintain the labelling system for each stock item and manually stock the items on inventory shelves. They maintain records, conduct and coordinate the periodic inspection of safety as well.
They utilize the computer to properly account for returns, issues, receipts of the new materials, back orders, etc. They also input the vital data on the various materials that have been handled and ensure that they strictly adhere to the accounting procedures and other inventory rules and regulations.
These professionals issue supplies, deliver supplies, materials, products, etc., and complete all the related paper work. They confirm that the delivered goods match the purchase order specifications with respect to quantity, condition, etc., and then submit it to the supervisor.
They may also collect samples and send them for laboratory testing. They sort products as per their pre-determined sequence or arrange them in groups for packing, display, shipping or storage.
They conduct audits of stocked items and make sure that adequate levels of supplies are being maintained. They consolidate and submit the purchase orders. They make sure that the bills are being charged properly to the correct department.
Thus, they need to handle a wide range of duties like prioritizing requests, placing orders, distributing supplies, analyzing prices, and ensuring that the departmental inventory is maintained.
The inventory specialist should have graduated from a four year high school program and should be computer literate. Previous work experience in warehouse environment, distribution center, etc., that demonstrates independent working would surely prove to be a plus point.
Individuals working in this position need to sit, stand or walk for some specific period. They need to use strength while lifting various items and should possess good eyesight. They may be exposed to varying weather conditions and chemical substances. Their place of work is usually quiet, but may be noisy at times. Also, they should be flexible to work beyond normal work hours and may sometimes need to work on the weekends as well.
The average remuneration package offered for this position is close to $38,000. Depending on the skills, education, and experience the salary of that individual may vary. Similarly, it will also change depending on the size and type of the establishment as well as the geographical location.
The career prospects for these professionals look bright and promising. The individuals with prior work experience in inventory and purchasing definitely have got a better scope for development and growth to the higher positions.
Therefore, to ensure a rewarding career ahead in this field, the inventory specialist responsibilities must be carried out effectively and efficiently.
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