The inventory manager is a vital role within a retail operation, eCommerce or wholesale business. They oversee and provide accurate data on available products to make informed decisions on supply chain management and sales. Quite the responsibility!
Some of the inventory manager’s responsibilities include managing:
- The cost and sources of product acquisition;
- The warehousing of that product;
- The amount and value of product on hand.
Inventory managers walk a tightrope daily. They need to ensure there’s enough available product or merchandise to meet customer demand while not having too much, which would incur additional costs.
Let’s look at five key functions of the inventory manager and how they contribute to the success of a retail, eCommerce or wholesale operation.