An inventory specialist is responsible for managing in-store counts, tracking inventory issues, communicating with warehouses and distributors, organizing scheduled inventory counts, and ensuring proper counting and storage of products. They deal with physical inventory and perform daily counts to resolve errors and other issues. They may also be responsible for annual store inventories and ensuring that products are correctly placed on shelves.
An inventory specialist is someone who works for a business, usually a retail or manufacturing location, and is primarily responsible for handling in-store counts and inventory issues. This could be a lower-level position, where the title should sound more important than it really is, or a management position closely tied to the day-to-day operations of the store. Regardless of position status, typical tasks typically include performing daily counts, tracking inventory issues, communicating with warehouses and distributors, organizing scheduled inventory counts, and effectively organizing a company’s inventory.
Inventory is generally thought of as the product or materials located in a retail store or factory. It is also sometimes called “physical inventory” and usually consists of the goods that a store sells or that a manufacturer uses to make other products. In both types of establishments, inventory is important and therefore an inventory specialist is usually hired to ensure proper counting and storage of these products.
Daily counts are usually an important duty performed by an inventory specialist. These types of counts typically involve physically locating products within a store to ensure that the store’s contents match records kept in computer or other forms of accounting. Shipping errors, shoplifting, employee theft, and mishandling products in sales records can all lead to differences in physical inventory and what should be there. By performing this type of count, errors and other issues can often be discovered and resolved more quickly.
Since much of a company’s inventory comes from other manufacturers or distributors, an inventory specialist may also need to deal with warehouses to determine the roots of inventory problems. If a pallet of goods was not on a truck, the specialist will usually need to locate it and ensure it arrives at the store or facility where it belongs. Annual store inventories are also an important aspect of what people in this position are usually responsible for overseeing.
These types of annual inventories often reveal “shrinkage” or “increase” in the company’s profits, finding that product is missing or found to be in excess of what should be present. Excessive shrinkage can often affect the employment of an inventory specialist; therefore, an accurate count is very important for anyone in this position. Inventory specialists may also be responsible for ensuring that product is correctly placed on shelves so customers can find what they are looking for. Excess product may need to be stored in overhead bins, and an inventory specialist may also need to ensure this is done safely and efficiently.
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