How to become an inventory manager

What is an inventory manager?

Inventory managers order raw materials, manage and document their levels, supervise inbound and outbound shipments, and ensure the availability of finished products.

What does an inventory manager do?

Widely employed in the manufacturing industry, inventory managers typically work in field settings such as production facilities or warehouses. Read on for an overview of their duties, specializations, and skill requirements:

Most common tasks

The main duties of inventory managers include:

• Sourcing raw materials and suppliers
• Placing and tracking delivery orders
• Supervising stock and finished product levels
• Documenting inventory processes

Inventory managers may also train or supervise warehouse or production teams.

Inventory management strategies

Inventory managers draw on many strategies, including:

• Economic order quantity (EOQ): EOQ management uses mathematical analysis to optimize inventory levels and prevent excesses and backlogs.
• Just-in-time (JIT): The JIT model minimizes raw materials inventories to cut waste and reduce storage requirements.
• Material requirements planning (MRP): The MRP approach ties inventory levels to sales forecasts.

They may also incorporate industry-specific management methods as dictated by business needs.

Key skills for inventory managers

In addition to detailed knowledge of relevant inventory management strategies, inventory managers require strong skills in:

• Logistics and supply chain management
• Forecasting, data analysis, and production planning
• Communication and personnel management

You can build these skills through a combination of education and experience.

Steps to become an inventory manager

A typical path to becoming an inventory manager involves the following: