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Inventory Manager at Rich Products Corporation

  • Administrative Jobs, Inventory Specialist Jobs
  • Permanent Employment
  • 2 months ago
  • New York, America
  • Shift Full-Time
  • Job Qualifications Bachelor
  • Job level Manager

Job Description

Inventory Manager at Rich Products Corporation

Rich’s, also known as Rich Products Corporation, is a family-owned food company dedicated to inspiring possibilities. From cakes and icings to pizza, appetizers and specialty toppings, our products are used in homes, restaurants and bakeries around the world. Beyond great food, our customers also gain insights to help them stay competitive, no matter their size. Our portfolio includes creative solutions geared at helping food industry professionals compete in foodservice, retail, in-store bakery, deli, and prepared foods, among others. Working in 100 locations globally, with annual sales exceeding $4 billion, Rich’s is a global leader with a focus on everything that family makes possible. Rich’s®—Infinite Possibilities. One Family.

 

PURPOSE STATEMENT

The role of inventory manager is to anticipate and maintain stock levels and perform stock analysis to ensure inventory levels which are financially feasible along with maintaining the service levels. The inventory manager will be responsible to work cross-functionally with CBUs, Demand Planning Team, Supply Planning Team, Plant Operations, Procurement, Logistics and Finance for maintaining accurate inputs to Inventory Optimization and to share output scenarios to meet organizational inventory related KPIs. Inventory Manager will be working with Supply Planning Managers to ensure that the approved inventory targets are utilized in supply planning for production and replenishment decisions throughout the network.

 

KEY ACCOUNTABILITIES/OUTCOMES

  • Review segmentation attributes every 6 months or on major events that influence medium to long term demand and narrow down on most impactful attributes for segmentation

  • Perform strategic and incremental segmentation and analyze the results of segmentation process and highlight anomalies if any

  • Review SKU drift analysis between clusters in collaboration with Inventory Planning CoE SME and share major / impactful deviations cross-functionally

  • Assign service levels and inventory coverage targets overrides to the identified SKU clusters or underlying SKUs in collaboration with CBUs

  • Review the inventory level targets recommended by the IO optimization engine and perform stability analysis, target vs actual analysis in volume, days of coverage and financial terms

  • Understand the causes of change in inventory levels to take corrective actions on target inventory level maintenance

  • Simulate scenarios with potential corrective actions in inputs, like forecast accuracy, lead time variability, service levels, costs, storage, master data and identify options for decision making

  • Perform manual overrides if required to arrive at optimal inventory targets. Perform cross-functional collaboration for high volume, high impact inventory level decisions

  • Provide Demand Planning Managers with SKUs that are having high inventory coverage recommendations due to poor forecast accuracy

  • Provide Procurement with SKUs that are having high inventory coverage recommendations due to poor supplier lead time variability

  • Provide Logistics with SKUs that are having high inventory coverage recommendations due to poor transportation lead time variability

  • Monitor and track inventory targets in different forms (FG, WIP, RM) at different nodes of supply chain to ensure service levels with optimal inventory investments

  • Analyze the replenishment policies for finished goods after every analyzer run which will happen once in every six months

  • Track, report, and analyze KPIs and report to Planning Director for elevating exceptions in Supply Review Meeting of IBP process

 

KNOWLEDGE/SKILLS/EXPERIENCE

  • Bachelor’s degree in Business or Logistics required, MBA desirable

  • Understanding of inventory optimization process concepts and drivers of inventory targets  

  • Knowledge of inventory optimization KPIs and their impact on the organizational and cross-functional KPIs and vice versa

  • Understanding of cross-functional levers for inventory optimization and risk mitigation and resolution for better performance

  • Experience with SKU segmentation process and attributes that drive the segmentation

  • Skilled at negotiation, collaborative decision-making

  • Knowledge of BY IO, data analytics, scenario planning and data driven insight generation

 

Rich Products Corporation, its subsidiaries and affiliates (“Rich’s”), are committed to a policy of Equal Employment Opportunity and will not discriminate against an applicant or employee on the basis of race, color, religion, creed, national origin or ancestry, sex, age, physical or mental disability, veteran or military status, genetic information, gender identity, sexual orientation, marital status or any other legally recognized protected basis under federal, state, or local law. The information collected by this application is solely to determine suitability for employment, verify identity, and maintain employment statistics on applicants.

 

Applicants with disabilities may be entitled to reasonable accommodation under the Americans with Disabilities Act and certain state or local laws. A reasonable accommodation is a change in the way things are normally done which will ensure an equal employment opportunity without imposing undue hardship on Rich’s. Please contact Rich’s Human Resources department at asc@rich.com if you need assistance completing this application or to otherwise participate in the application process.

 

 

 

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