1. Analyze historical data, market trends, and sales projections to create accurate inventory forecasts for different products and SKUs
2. Develop and implement inventory replenishment strategies to achieve optimal stock levels, considering factors like lead times, customer demand, and production schedules
3. Collaborate with sales, marketing, and production teams to understand demand fluctuations and align inventory levels accordingly
4. Review inventory performance metrics, such as turnover ratios, stockouts, and excess inventory, to identify areas for improvement and cost-saving opportunities
5. Coordinate with suppliers to ensure timely deliveries and negotiate favorable terms to optimize inventory costs
6. Prepare and present inventory reports to senior management, highlighting key insights, risks, and action plans
7. Evaluate and enhance inventory planning processes to increase efficiency and accuracy