Inventory Control Specialist

Industry:
Manufacturing
Last Updated:
July 18, 2023

Job Description Overview

If you're interested in a career in the manufacturing industry, consider becoming an Inventory Control Specialist. As an Inventory Control Specialist, your main responsibility is to oversee the inventory levels within a company's warehouse or distribution center. You will be responsible for monitoring inventory levels, ensuring that the right products are in stock, and ordering new inventory when necessary. In addition, you will be responsible for tracking inventory movements and maintaining accurate records. Your role is critical in ensuring that the manufacturing process runs smoothly and efficiently. To become an Inventory Control Specialist, you may need a bachelor's degree in a related field or relevant work experience. Strong communication skills, attention to detail, and proficiency with inventory management software are also essential. With a strong work ethic and a passion for ensuring optimal inventory levels, you'll excel in this rewarding Inventory Control Specialist job description career.

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Job Duties and Responsibilities

  • Maintaining accurate and up-to-date inventory records and databases
  • Conducting regular physical inventories or cycle counts to verify inventory levels
  • Reconciling inventory discrepancies and investigating root causes of errors
  • Implementing and maintaining inventory control policies and procedures
  • Communicating inventory levels and trends to management and other stakeholders
  • Coordinating shipments and receiving of inventory, including inspecting goods for quality and accuracy
  • Developing and implementing initiatives to improve inventory accuracy, efficiency, and cost-effectiveness
  • Collaborating with other departments, such as production and purchasing, to forecast demand and optimize inventory levels
  • Training and coaching staff on inventory control best practices and procedures.

Experience and Education Requirements

To become an Inventory Control Specialist in the Manufacturing industry, you need a mix of both education and experience. Most companies expect you to have at least a high school diploma or GED. Some employers may prefer candidates with an associate or bachelor's degree in supply chain management, logistics, or Inventory Control.

Experience-wise, you'll need to show that you've worked in jobs which involve inventory control, management or analysis. Having worked with software and tools like warehouse management systems (WMS), enterprise resource planning (ERP), Microsoft Office Suite, and Quickbooks is a plus.

Having excellent organizational, analytical, and communication skills will help you thrive in this role. You'll need to be detail-oriented and able to work in a fast-paced environment. Continuously pursuing training and certifications will help you stay current with industry trends and advancements.

Salary Range

An Inventory Control Specialist is a key role in the Manufacturing industry, responsible for managing and optimizing inventory levels to meet production needs, minimize waste, and reduce costs. If you're wondering about salary range, the average salary for an Inventory Control Specialist in the United States is around $48,000 to $65,000 per year, according to Glassdoor and Payscale. However, factors that can influence salary include company size, location, industry, level of experience, and education. For instance, an entry-level Inventory Control Specialist may earn an average of $42,000 per year, while a senior Inventory Control Specialist with over 10 years of experience may earn an average of $72,000 per year. If you're looking outside the US, data from Indeed shows that Inventory Control Specialists in Canada have an average salary range of CAD 43,000 to CAD 61,000 per year. 

Sources:

  • https://www.glassdoor.com/Salaries/inventory-control-specialist-salary-SRCH_KO0,28.htm
  • https://www.payscale.com/research/US/Job=InventoryControlSpecialist/Salary
  • https://www.indeed.com/salaries/Inventory-Control-Specialist-Salaries,-Canada

Career Outlook

If you're interested in becoming an Inventory Control Specialist in the manufacturing industry, the job outlook is promising. The Bureau of Labor Statistics reports that employment in this field is projected to grow 5% from 2019 to 2029, which is faster than the average for all occupations. This growth is due to the increasing importance of efficient inventory management to reduce costs and improve customer satisfaction. With the rise of e-commerce and just-in-time manufacturing, inventory control specialists are in high demand to ensure that companies have the right amount of inventory at the right time.

Additionally, the COVID-19 pandemic has highlighted the need for robust inventory management systems, and companies are investing more in this area to avoid the supply chain disruptions of 2020. The average salary for an Inventory Control Specialist is around $47,000 a year, according to Payscale, but that can vary based on experience and education. So, if you're considering a career in this field, the future looks bright!

Frequently Asked Questions (FAQ)

Q: What is an Inventory Control Specialist in the Manufacturing industry?

A: An Inventory Control Specialist is responsible for managing and tracking the inventory of raw materials, work-in-progress, and finished goods in the manufacturing industry.

Q: What are the key responsibilities of an Inventory Control Specialist?

A: An Inventory Control Specialist is responsible for maintaining accurate inventory records, monitoring inventory levels, conducting physical inventory counts, creating reports, and identifying any issues with inventory discrepancies.

Q: What skills are required to become an Inventory Control Specialist?

A: An Inventory Control Specialist must have excellent organizational and analytical skills, attention to detail, and proficiency in using inventory management software. Good communication and problem-solving skills are also important.

Q: What is the working environment of an Inventory Control Specialist like?

A: An Inventory Control Specialist typically works in a manufacturing environment, which can be noisy and hectic. They may spend a significant amount of time on their feet and may need to lift heavy items occasionally.

Q: What is the career growth potential for an Inventory Control Specialist in the Manufacturing industry?

A: An Inventory Control Specialist can advance to supervisory or managerial positions as they gain more experience and skills. They can also move to other areas of manufacturing such as production planning or supply chain management.


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