Inventory Loss Control Specialist

SUMMARY

The Inventory Loss Control Specialist is responsible for working independently and providing accounting support to the Retail Operations division, overseeing the inventory and receiving processes to ensure accurate levels of inventory, identifying inventory over/short trends, monitoring store performance, and providing instruction, guidance and training as needed to company employees to reduce the amount of reported Inventory Loss. The Inventory Control Specialist will also be responsible for making recommendations to improve existing policies and procedures for our retail operations to improve inventory over/short results.

RESPONSIBILITIES BY COMPETENCY: (*denotes an essential function of the position)

Business Results Orientation

• Understand company inventory, receiving, and audit standard operating procedures

• Monitor and analyze inventory discrepancies to identify trends and evaluate store management compliance with standard operating procedures and communicate to appropriate personnel

Analyze and determine reasons and solutions for inventory variances and oversolds

Create performance plans for improved inventory performance at necessary locations

Assist in researching or recounting material inventory count variances

Attend third party audits as needed to ensure accuracy of information

• Work with store management to maintain accurate inventory levels
• Make recommendations to improve existing policies and procedures as necessary
• Develop and Provide timely and accurate inventory reporting as required including but not limited to monthly inventory turns by category, items on hand with no movement, historical inventory results and inventory shortage analysis.
• Identify and use appropriate key performance indicators and financial metrics to identify what locations and/or inventory categories are over or under performing

• Create a personal work schedule and be responsible for logistic and travel plans

Maintain expense records and submission for reimbursement

Communication

• Communicate Inventory Loss trends and recommendations to appropriate personnel

Identify opportunities regarding store processes and recommend improvements

• Communicate any violations of company policy to appropriate company personnel

• Provide assessments of the inventory performance of individual sites to appropriate personnel after site visits

• Communicate audit observations and make recommendations for improvement

• Communicate professionally and effectively with internal customers and external vendors

• Keep appropriate personnel apprised of discrepancies, exceptions, trands, loss issues, and error corrections in a timely manner

• Ensure professional image in all internal and external correspondence.

Customer Service Orientation

• Act as the inventory representative to store managers and maintain regular contact to ensure continuity of accurate inventory processes and follow up on performance as necessary

• Assist the retail operations division in interpreting and understanding financial data provided

• Provide excellent customer service by proactively supporting the Operations division with efficient solutions and timely, accurate information.

• Respond to all requests from company personnel in a timely and accurate manner.

• Provide guidance and feedback as needed to company employees to ensure inventory related policies and procedures are being followed and that processes are completed efficiently

• Work closely with Retail Accounting Staff on items that affect inventory such as weighted average cost, count variances, oversolds, and pricebook data

Developing Talent

• Provide instruction, guidance and training to store personnel in activities related to inventory policies and procedures so they can manage inventory effectively

• Provide feedback to outside audit firm when they are conducting physical inventories

• Complete Safety training as required

• Give guidance to Operations personnel to help solve opportunities at the store level and present opportunities for coaching as necessary

Gain knowledge of other Retail Accounting team members and store functions to sufficiently answer or seek out answers to questions, when necessary, and to help support each department’s functions

Attend training to further professional development and understanding of company goals and strategy

• Share experience, skills and expertise with co-workers and other divisions

• Challenge oneself to further develop skills related to the position

Technical Expertise

• Maintain knowledge of company inventory related policies and procedures

• Maintain knowledge of the store operating and reporting systems to be able to assist store personnel and provide guidance when needed

• Maintain knowledge item-level and category level inventory processes and the techniques for researching variances

• Ability to analyze store data and identify variances.

• Utilize moderate to advanced Excel functions to manipulate data sets

• Create, modify, and maintain reports that will allow for more effective reporting to other company personnel

• Complete investigations as needed to resolve issues within area of responsibility

SUPERVISORY RESPONSIBILITIES

No direct employees supervised.

QUALIFICATIONS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

(*denotes an essential qualification of the position)

Education:*Required: Equivalent to high school

Preferred: Bachelor’s Degree or equivalent experience

Experience: Over 1 year up to and including 3 years auditing, inventory management and receiving, or related retail field

Language Skills: *Ability to read, write, speak, and understand English in a professional manner that is

sufficient for effective communication with groups of managers, clients, customers and the general public.

• Ability to multi-task and handle multiple priorities and deadlines

• Display extraordinary attention to details

• Excellent verbal and written communication skills

• Exceptional attention to detail and desire for accuracy
• Ability to work with and interact with a wide variety of people

Technology, Tools,

And Equipment:

• Required Computer, Microsoft Office, Telephone, Copy/Printer/Fax, Numeric Key

Preferred: Video Conferencing Platforms, Industry Standard Software, Advanced Excel Skills(Proficiency with preferred items is not required to meet minimum qualifications, but proficiency must be established to complete essential job functions)

Certificates, Licenses

and/or Registrations: *Valid Driver’s License in only one state

PHYSICAL DEMANDS

The physical demands described below are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Disclaimer:

This job description in no way states or implies that these are the only duties to be performed by the employee occupying this position. Employees may be required to follow other job-related instructions and to perform other job-related duties as requested, subject to all applicable state and federal laws. Wallis Companies reserves the right to make changes to job descriptions as needed with or without notice to affected employees. Certain job functions described herein may be subject to possible modification in accordance with applicable state and federal laws. This job description does not establish a contract for employment..

INDILCS