The job description of an inventory specialist focuses on all aspects of inventory movement, such as restocking and accounting for warehouse items. Inventory specialists are responsible for compiling and maintaining records of the value, type and quantity of a company’s supplies. Additionally, they deal with the preparation of journal entries, general ledger reconciliations, fixed asset maintenance and monthly and year-end closings.
Inventory specialists coordinate procurement information and inventory requirements with vendors and customers. They produce inventory budgets and maintain a firm’s stock ratio. They also track inventory transportation and distribution. Other tasks of inventory specialists include auditing of inventory, monitoring stock records and compiling evaluation reports.
Furthermore, inventory specialists are in charge of supervising the counting of the inventory cycle, restocking and filling order forms, assessing invoice details, evaluating cost movement of company products and reviewing sales reports to estimate potential stock requirements. They also account for inventory surplus, damages and product returns.
Typically, candidates who qualify for this position have a degree in administration, supply chain, logistics, material management or other related fields. They have good analytical skills, multitasking capabilities, knowledge in barcode equipment and inventory software and strong communication skills. The nature of their job also requires them to have excellent time management skills and supervisory skills for training staff in inventory processes and overseeing production line processes. Most inventory specialists work in their own office in a warehouse.