Inventory Specialist Job Description: Top Duties and Requirements

An Inventory Specialist, or Inventory Analyst, is responsible for keeping track of all inventory, ingoing and outgoing, within a company, factory, or any other business. Their main duties include ensuring inventory count is up-to-date, logging all inventory in an organized spreadsheet or software program, and ensuring that quantities of products, materials, supplies, and equipment are maintained at all times.

 

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Inventory Specialist duties and responsibilities

There are several duties and responsibilities that an Inventory Specialist has on a daily basis to support the workflow of the organization. Some of the day-to-day responsibilities that can be expected of a successful Inventory Specialist include:

  • Keep track of raw materials, equipment, shipments, incoming deliveries, and stock
  • Digitally manage inventory and create inventory reports
  • Prevent shortages of supply or manage unexpected shortages
  • Negotiate prices with suppliers
  • Order materials as needed
  • Reconcile inventory differences between physical stock and digital data
  • Review incoming and outgoing orders
  • Create, update, and maintain supplier purchasing files that are complete with pricing information 

 

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Inventory Specialist Job Description Examples:

 

Example 1

Relm Cannabis Co. is looking for an Inventory Specialist for our new location in Hamilton! The Inventory Specialist will be responsible for the implementation and maintenance of inventory procedures and controls to ensure that appropriate inventory levels are achieved at all times. Primary responsibilities include keeping an up to date count of all inventory to ensure accurate reporting on a daily basis. In addition, the Inventory Analyst will be responsible for strategic forecasting, development of inventory management policies and procedures to ensure accurate AGCO reporting. *Job Duties * * Electronically prepare/process all acquisitions, betterments, modifications, transfers, turn-ins, and deletions of fixed assets; reconcile fixed asset accounts and financial ledger; maintain updated fixed asset listing and provide to departments upon request within mandated timelines. * Ensure product codes match the OCS item catalog to ensure proper reporting. * Ensure adequate stock levels for retail requirements. * Advise the Purchasing Manager where inventory levels are depleted or low.
  • Utilize inventory control measures for cycles of incoming and outgoing orders with relevant partners. * Monitor and track product delivered. * Plan/supervise/schedule/execute an on-going daily physical inventory of fixed assets by the department. * Coordinate and submit timely and accurate inventory reports. * Track sales and inventory in a daily/weekly report. * Track inventory adjustments daily. * Collect data based on consumer information, and create a plan based on your findings.
  • Assure that transfers between departments are tacked and processed. * Maintain records of all transfer transactions. * Track and perform the disposal of products as per AGCO regulations. * Conduct periodic spot checks of warehouse excess and conduct a formal inventory at least once annually. * Conduct maintenance on POS and any work-related tools. * Perform other duties as required. * Requirements * Requirements * Proven success in an Inventory Management role. * Exceptional oral and written communication skills to communicate effectively with all levels within the organization and with external stakeholders. * Considerable knowledge of laws, ordinances, and regulations pertaining to inventory management practices. * Maintain knowledge of all provincial and federal cannabis regulations. * Strong writing skills for creating reports, correspondence, contracts, requests, bids, and other documentation. * Knowledge of the appropriate tools for grading, analyzing, and assessing materials, equipment, supplies, services, and other commodities. * Familiarity with Excel, and inventory management software. * Demonstrated understanding of integrated supply chain and logistics concepts and theories.
  • Exceptional forecasting ability with strong analytical and interpretive skills.
  • ERP user experience. * Knowledge of inventory control procedures. * Knowledge of computerized barcode inventory systems/accounting procedures. * Knowledge of surplus property/logistical support structures. * Knowledge of accounting system/inventory control processes and laws pertaining to inventory disposal. * Strong computer skills in Microsoft Office software suites. * Strong understanding of Excel. * Working experience in the Cannabis industry preferred. * Work experience in international purchasing preferred. * Knowledge of local and global markets for the industry. * Basic mathematical skills with the ability to calculate figures and amounts such as discounts, percentages, and averages required. * A well-defined sense of diplomacy, including solid negotiation, conflict resolution, and people management skills. * Able to build and maintain lasting relationships with corporate departments and key business partners. * Able to work efficiently as a part of a team as well as independently. * Excellent time and project management skills. * Familiar with track-and-trace systems, as well as implementation experience. * Experience with radio frequency ID systems (RFID), bar code systems, and electronic data interchange (EDI) may be required. *Work Conditions * * Some travel may be required. * Ability to attend and conduct presentations. * Able to physically inspect company property and assets. * Manual dexterity required to use desktop computer and peripherals. * Overtime as required. * Able to physically inspect company property and assets. * *Ability to physically lift, push or pull up to 50 lbs.* Job Types: Full-time, Permanent Salary: $20.00 per hour Benefits: * Store discount Schedule: * 8 hour shift * Monday to Friday * Weekends COVID-19 considerations: All customers are required to wear masks, regular cleaning and sanitizing of store, especially high touch areas, etc. Experience: * customer service: 3 years (preferred) Work remotely: * No
  • Example 2

    Company Biography: Across our three hospitals and eight satellite sites, Scarborough Health Network (SHN) is shaping the future of care. Our many programs and services are designed around the needs of one of Canada’s most vibrant and diverse communities. We are home to North America’s largest nephrology program, as well as the designated cardiac care and spine centre for Scarborough and surrounding communities to the east. We are proud to be a teaching site for the University of Toronto and partner with a number of other universities and colleges, helping to train the next generation of health care professionals. Learn more at [website] Position Overview: The Willow Inpatient and Inventory Analyst is responsible for building and testing all the inpatient pharmacy workflows and clinical content in Epic Company Vacancy/Request for Transfer: The completion of this online form serves as your application and will be used to determine if you meet the requirements of this position. Please ensure that you have provided all pertinent information necessary to be considered for this vacancy by the close date.
  • Acting as the primary support contact for the application's end-users
  • Identifying issues that arise in their application area as well as issues that impact other application teams, and working to resolve them
  • Guiding workflow design, building and testing the system, and analyzing other technical issues associated with Epic software
  • Serving as a liaison between end users' workflow needs and Epic implementation staff
  • Developing an understanding of operational needs to set the direction for the organization's workflows by attending site visits and other integrated sessions
  • Participating in training and working with end users
  • Troubleshooting problems and questions
  • Reviewing the status of projects and issues on an ongoing basis with leadership
  • Assisting with user support, troubleshooting application errors, optimizing the build and fixing issues after the system goes live Requirements:
  • Experience working with Epic® (Essential)
  • Certified in Epic Willow Inpatient (Essential) and Epic Willow Inventory (Preferred)
  • Graduate of a Pharmacy degree from a recognized university (Highly Preferred)
  • Licensed to practice pharmacy by The Ontario College of Pharmacist (Preferred)
  • Minimum of two (2) years’ experience as a Hospital Pharmacist (Preferred)
  • Clinical knowledge of how various medications should be ordered
  • Familiarity with pharmacy workflows, including dispensing and clinical monitoring
  • Critical thinking and problem solving skills, able to logically examine a problem and determine the route cause and course of action
  • Take ownership over own work and have initiative to recognize tasks that need to be completed
  • Strong interpersonal skills and the ability to communicate information clearly and concisely with project leadership and stakeholders
  • The ability to work collaboratively and effectively with internal and external stakeholders
  • The ability and willingness to learn new software, systems and processes
  • Highly reliable, able to persevere in difficult situations, overcome obstacles and work under time pressures
  • Demonstrates a commitment to customer service when dealing with patients, colleagues and volunteers and other members of the community and public with integrity, empathy and professionalism
  • Demonstrates values consistent with SHN's Code of Conduct and is committed to fostering a healthy and positive work environment in accordance with Health & Safety policy and legislation.
  • Demonstrates an understanding of and commitment to SHN's comprehensive safety programs and practices including staff safety, patient safety, and environmental safety and participates in regular in- service education in this area.
  • Demonstrates excellent work performance and attendance record Accommodation Statement: Scarborough Health Network (SHN) embraces and celebrates our community’s unique multicultural heritage and diversity. SHN is an equal opportunity employer, dedicated to a culture of inclusiveness and diversity reflecting our diverse patients, staff and community alike. We are committed to providing barrier-free and accessible employment practices in compliance with the Accessibility for Ontarians with Disabilities Act (AODA). Should you require accommodation through any stage of the recruitment process, please make them known when contacted and we will work with you to meet your needs. Learn more about our exciting opportunities by following us on Twitter at: SHNCareers
  • Example 3

    *Anipet Animal Supplies* – We are a leading Distributor of Pet Food and Supplies and have been family owned since [phone number]*We are seeking an Inventory Specialist for our Surrey Distribution Center.* We are passionate about our people and our mission of Inspiring Leadership and Building Community within our team and among our customers. If you are a high energy individual with exceptional interpersonal and organizational skills, then we want to meet you! Working out of our Surrey facility, you would be responsible for all aspects of inventory control, as well as other administrative duties. Your job requirements and will include: * Minimum of 2 in an Inventory Control position * Responsible for all processes related to Physical Inventory and Cycle Counts * Must be experienced with RF scanners and related software * Must be a self-starter and be able to work independently and as part of a team * Must have strong communication skills, as well as a positive attitude. * Must have the ability to analyze situations calmly and resolve problems in a professional manner. * Monitor, research and resolve all inventory variances * Ability to operate a Reach truck. (fork lift) We can provide training and certification, if needed. * Strong time management and organizational skills * Ability to work Monday to Thursday, 3pm to 11:30pm weekly, Sunday or Friday 12:00-8:30 as well as overtime when required. * Must be tech savvy and comfortable and experienced with computers * Minimum education required is a High School Diploma, but further education is an asset * Must be able to fluently communicate in the English language. (Written & verbal) * Must be able to lift up to 40 pounds and be able to sit, stand, and walk, on a daily basis. * Safety focused, energetic and reliable Our company also offers competitive wages, extended benefits, a pension plan and a staff discount on our fine pet foods and supplies. Remuneration will be based on experience. If anything above sounds like a fit for you, please submit your resume, with a cover sheet outlining your qualifications and we will be in touch! Reference ID: Inventory Specialist Job Types: Full-time, Permanent Salary: $19.00-$20.00 per hour Additional pay: * Overtime pay Benefits: * Casual dress * Company events * Company pension * Dental care * Disability insurance * Extended health care * Life insurance * Store discount * Vision care Schedule: * 8 hour shift * Monday to Friday * Overtime * Weekend availability COVID-19 considerations: Masks, Social Distancing, Sanitizers, Daily Symptom Check Experience: * Inventory: 1 year (preferred) * Forklift: 1 year (preferred) Work remotely: * No

    Example 4

    *Integrated Solutions, a proud Xplornet Internet provider, Shaw Direct Satellite TV Partner & Shaw Cable with locations in Ontario, Alberta, and Saskatchewan is looking for an enthusiastic, experienced Inventory Specialist to join our team. This position will be based out of our Edmonton, Alberta location and will be based on a part time schedule. You will be part of our hard-working but fun team that always strives to grow our customer base and provide win-win solutions that enhance our customer’s experience.* *Why Integrated Solutions?* *We are looking for the best and brightest to take our team to the next level. If you share in our passion for superior customer service, Integrated Solutions is the company for you. We provide complete sales and installation services for residential and commercial customers in select markets throughout Canada.* *Job Summary: * *Perform an array of functions that may include but isn't limited to; processing and reconciling invoices, data entry as required, accept deliveries, receiving and processing incoming stock, picking and filling orders from stock, packing and shipping orders, managing, organizing and retrieving stock in the warehouse. Administrative duties will also be required.* * *Administrative Duties: * * *Reconcile and complete invoicing* * *Enter orders as needed* * *Scan, maintain and put away inventory* *Maintain accurate records and assist in inventory control* *Assist shipping and receiving unloading trucks and checking in stock* *Prepares orders by processing requests and supply orders; pulling materials; packing boxes; placing orders in delivery/pickup area* *Sort and place materials or items on racks, shelves or in bins according to organizational standards* *Record keeping of all units that are to be returned or restocked* *Maintains safe and clean work environment by keeping shelves, pallet area, and workstations neat; Sweep, dust and mop.* *Keep warehouse and work area organized and safe at all times* *Operate forklift if applicable or pallet jack as needed. Will provide training in certification of pallet jack* * *High School diploma or equivalent preferred* *1-2 yrs previous warehouse experience preferred* *Good communication, organizational, time management skills* *Dependable and Reliable* *Proficiency in MS Office & Google Drive (Google Sheets, in particular)* *Must have a driver's licence and clean driver’s abstract (will reimburse upon receipt)* *Pass a criminal background check - paid by company* *Must have CSA approved work boot* *Must be able to lift up to 50 lbs safely* *What’s in it for you?* * *Ongoing support for immediate questions* * *Contribute to a positive work environment, which includes Fun Fridays, and Employee engagement* * *Competitive hourly rates* * *Eligibility for Benefits after 3 months, which includes Medical, Dental and Vision Care* *Integrated Solutions is an equal opportunity employer and complies with all fair employment practices laws. We are committed to providing a workplace free from unlawful discrimination and harassment and prohibit the same against employees, applicants or other covered persons by co-workers, supervisors, managers, or third parties based on a person's race, color, religion, creed, sex, sexual orientation, gender identity, national origin, ancestry, age, veteran status, disability unrelated to job requirements, ethnicity, genetic information, military service, union membership, political affiliation, marital status and pregnancy or other protected status* *We have a COVID-19 plan in place and will follow all Government mandated compliances as they arise.* *Hours of Operations are from 8:00am to 5:00pm Monday to Friday, however the part time hours will be a 20 hour work week which is paid weekly; scheduled hours would be 8:00am to 12:00pm (can be flexible on the hours of work). This position is also open to potential full time opportunities in the near future.* *Job Types: Part-time, Permanent* *Starting Salary: $15.00 -$18.00 per hour* Part-time hours: 20 per week Job Types: Part-time, Permanent Salary: $15.00-$18.00 per hour Benefits: * Dental care * Extended health care * Vision care Schedule: * Day shift COVID-19 considerations: We follow all COVID-19 Government policies and procedures Work remotely: * No

    What does an Inventory Specialist do?

    An Inventory Specialist enables an organization to function optimally by ensuring that all necessary materials for production are in stock when needed. If stock is low, the Inventory Specialist should be proactive, and take the necessary steps to ensure that projects in the workflow remain in progress. It is the Inventory Specialist’s responsibility to keep track of incoming and outgoing products, and to prevent a shortage of supply that could disrupt a company’s processes. They are also often responsible for compiling data in an organized way, scheduling deliveries, and rotating stock as necessary.

     

    Inventory Specialist skills and qualifications

    A successful Inventory Specialist candidate will have skills and qualifications essential to managing the inventory of any type of establishment. Some common skills and qualifications that make a strong candidate include:

    • Exceptional organizational skills
    • Strong computer skills
    • Excellent time management skills
    • Good communication skills, both written and verbal
    • Attention to detail
    • Excellent problem-solving skills
    • Strong decision-making skills
    • Excellent financial skills (e.g. budgeting, calculating, accounting)

     

    Inventory Specialist experience requirements

    A successful Inventory Specialist will often have previous experience on the floor of a retail store or warehouse. Experience with responsibilities such as stocking shelves and supplying management with inventory reports are considered an asset to the Inventory Specialist position. A candidate may also have experience in Project Management or Production Management.

     

    Inventory Specialist education and training requirements

    There are no specific education or training requirements for most Inventory Specialist positions. However, candidates are generally expected to have at least a secondary school diploma. Completion of specialized training courses in management, inventory management, or computer software is considered a strong asset in a candidate. Candidates with a bachelor’s degree in business administration or management can be considered as exceptional candidates for the position.

     

    Inventory Specialist salary expectations

    According to Indeed Salaries, the average Inventory Specialist salary is $18.47 per hour. This will vary based on factors like geographic location, industry, and level of experience.

     

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    Inventory Specialist job description FAQs

     

    What is the difference between an Inventory Specialist and an Inventory Clerk?

    An Inventory Specialist is an individual who is deeply analytical and has experience managing inventory on many different levels. They are responsible for keeping track of inventory and managing it to prevent shortages and optimize the workflow. In contrast, an Inventory Clerk has a less specialized role. The Inventory Clerk will be responsible for storing materials and entering relevant data. The management of inventory products is generally the Inventory Specialist’s responsibility, not the Inventory Clerk’s.

     

    Who does an Inventory Specialist report to?

    An Inventory Specialist will report to an Inventory Manager or Inventory Supervisor in a large company, or directly to upper management in a smaller business. In either scenario, they are responsible for informing their superiors of potential shortages and any other inventory problems that may occur.

     

    What makes a good Inventory Specialist job description?

    An appealing Inventory Specialist job description will include specific details. Applicants may be more likely to engage with a description that precisely outlines the day-to-day responsibilities like the type of digital software used, the type of equipment to be handled, and the volume of daily shipments. A good job description that really stands out can also include a mention of a competitive salary and any other company perks or privileges offered to employees.

     

    What qualities make a good Inventory Specialist?

    The most successful Inventory Specialist candidates will demonstrate an ability to work on tight deadlines, showcase excellent customer service skills, and be able to find more than one solution to a problem. An ambitious, hard-working, and goal-oriented individual makes for an excellent candidate for this position.

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