WHAT DOES AN INVENTORY MANAGEMENT SPECIALIST DO?

Updated: Dec 10, 2025 - The Inventory Management Specialist reviews and validates ERP data to support planning, forecasting, and optimization of stock distribution and production inventory. This role involves developing demand forecasts, modeling service-level scenarios, and collaborating with cross-functional teams to ensure balanced inventory levels that meet financial and service objectives. The Specialist also manages inter-warehouse transfers, monitors stock discrepancies, and maintains supplier and internal relationships to resolve shortages, overages, and long-term product availability issues.

A Review of Professional Skills and Functions for Inventory Management Specialist

1. Inventory Management Specialist Essential Functions

  • Inventory Management: Participate in inventory management-related projects to support process improvements and operational goals.
  • Project Documentation: Develop project documentation, including tools, reports, process maps, and presentations, to effectively communicate project progress and outcomes.
  • Data Collection: Collect and develop data related to items, stores, and other key inventory components to ensure accurate and efficient inventory management.
  • Item Analysis: Conduct classification and criticality analysis for items to assess their importance and prioritize inventory management efforts.
  • Data Preparation: Prepare data for item master upload to the CMMS (Computerized Maintenance Management System) to maintain accurate and updated records.
  • Record Analysis: Review and analyze historical item records to identify trends, discrepancies, and areas for improvement in inventory management.
  • Spare Parts Management: Perform criticality analysis for spare parts registered in the CMMS to ensure proper categorization and prioritization of inventory.
  • Training Facilitation: Conduct inventory management-related workshops and training sessions to enhance team knowledge and skills.
  • Process Improvement: Develop recommendations for improving store management practices, optimizing inventory levels, and increasing operational efficiency.

2. Inventory Management Specialist Additional Details

  • Procurement Management: Issue, manage, and track equipment purchase orders to ensure timely procurement and delivery.
  • Order Tracking: Maintain accurate records of all purchase orders and follow up on outstanding orders.
  • Data Reporting: Create, update, and manage data analytics reports for effective internal communication.
  • Performance Analysis: Use data to provide valuable insights and track key performance indicators.
  • Customer Service: Deliver excellent customer service to both internal teams and external customers.
  • Client Communication: Ensure timely and professional responses to customer inquiries, both via phone and face-to-face interactions.
  • Data Analysis: Interpret and analyze large volumes of data to identify trends and actionable insights.
  • Report Development: Break down complex data sets into clear, digestible reports for stakeholders.
  • Process Evaluation: Evaluate current internal processes and tools to identify areas for improvement.
  • Team Collaboration: Collaborate with teams to implement solutions that increase operational efficiency.
  • Performance Monitoring: Track the success of implemented changes and make adjustments on demand.

3. Inventory Management Specialist Roles

  • Value Optimization: Execute initiatives to maximize value driven by proprietary slots across customers.
  • Performance Improvement: Present recommendations for improving performance for assigned distributors, focusing on maximizing the value of proprietary slots.
  • Reporting Management: Create and distribute reports on proprietary slot values to track performance and identify opportunities.
  • Data Accuracy: Ensure all proprietary items are properly attributed and accounted for in the system.
  • Status Review: Review opportunities to remove proprietary status for items that no longer meet the criteria.
  • Compliance Verification: Review all unit closings for proprietary items to ensure accuracy and compliance.
  • Inventory Control: Manage and reduce expiring inventory, addressing any escalations promptly to avoid waste and minimize loss.
  • Cross-Functional Coordination: Liaise with purchasing specialists and compliance analysts to optimize the use of proprietary slots.
  • Partner Collaboration: Collaborate with distribution partners to ensure all proprietary SKUs are available to committed customers, ensuring seamless availability.
  • Inventory Insight: Work with distribution partners to gain insights into real-time inventory at distribution centers to enhance inventory management.
  • Ad Hoc Reporting: Support senior management with ad hoc reporting needs, providing valuable insights and data.
  • Inventory Transition: Manage the phase-in and phase-out of inventories at the distribution center level, ensuring smooth transitions and minimal disruptions in supply.

4. Logistics and Inventory Management Specialist Tasks

  • Process Compliance: Follow established processes related to material handling, inventory, and asset management to ensure accuracy.
  • Inventory Recording: Ensure proper recording of material receipts and maintain an accurate inventory system.
  • Stock Monitoring: Supervise inventory levels onsite and notify stakeholders when stock reaches minimum thresholds.
  • Cycle Counting: Perform cycle counts on devices, components, and consumables that fall outside the regular tracking cadence.
  • Storage Management: Maintain the parts room to meet physical inventory storage standards and optimize space usage.
  • Parts Organization: Ensure parts are stored in a manner that supports efficient retrieval and inventory management.
  • Process Improvement: Identify opportunities for process improvements to increase efficiency and reduce waste.
  • Workflow Optimization: Recommend changes that streamline workflows and improve overall inventory management.
  • Project Communication: Regularly communicate project status, key issues, and decisions to management to keep operations on track.
  • Issue Resolution: Highlight critical issues that impact the business and propose actionable solutions.
  • Operational Reporting: Ensure that project updates are timely and address any challenges to maintain operational success.
  • Decision Support: Support management in making informed decisions to drive the business forward effectively.

5. Inventory Management Specialist Details and Accountabilities

  • Record Management: Obtain purchase order numbers and assign identifying numbers for accurate record-keeping.
  • Vendor Communication: Contact vendors by phone, email, or in person to order parts to meet operational requirements.
  • Invoice Verification: Compare invoices against requisitions to verify the quality and quantity of merchandise received, ensuring accuracy.
  • Inventory Organization: Store purchased parts and issue them upon request, maintaining an organized inventory.
  • Spare Parts Management: Keep records of parts received and issued, and manage the inventory of spare parts for all equipment plant-wide.
  • Database Maintenance: Set up and maintain the maintenance database (BenchMate) for tracking parts and equipment.
  • Policy Compliance: Follow all company policies, guidelines, and rules consistently to ensure compliance and operational efficiency.
  • Team Collaboration: Collaborate effectively with others and work well in a team environment to support plant-wide operations.
  • Procurement Assistance: Assist in purchasing for all departments across the plant, ensuring timely and accurate acquisition of parts and supplies.
  • Safety Compliance: Observe safety and security procedures, report potentially unsafe conditions, and use equipment and materials properly.
  • GMP Adherence: Comply with Good Manufacturing Practices (GMP), Food Safety, and HACCP Pre-requisite Programs related to activities performed in this position.

6. Inventory Management Specialist Overview

  • Material Handling: Receive boxes of casework and related materials, ensuring proper documentation and handling.
  • Inventory Verification: Open and inventory the contents of boxes to ensure completeness and accuracy.
  • Documentation Preparation: Create laboratory worksheets from templates, entering required data such as laboratory number, case ID number, questioned/known numbers, and descriptions.
  • Chain-of-Custody Management: Create master and unit chain-of-custody forms to maintain proper records of forensic materials.
  • Data Entry: Enter data into the Sample Tracking and Control Software (STACS) system and/or FA, creating examination plans and generating barcode labels for tracking.
  • Workflow Coordination: Stage boxes and documentation for processing by unit-specific teams, ensuring efficient workflow.
  • Return Processing: Prepare boxes for return to the contributor, ensuring all materials are properly packaged and documented.
  • Evidence Handling: Load and unload boxes of evidence and forensic materials, including examination supplies and chemicals, with care and attention to detail.
  • Record Maintenance: Maintain accurate data/inventory records of boxes of evidence and forensic materials received, in process, and returned to the contributor.
  • Shipping Operations: Perform general shipping and receiving duties, ensuring the timely and accurate movement of materials.
  • Inventory Tracking: Utilize current STACS and/or FA software for evidence inventory management, tracking, and flow.
  • Legal Compliance: Ensure the proper chain-of-custody is maintained for all forensic materials under examination, adhering to legal and procedural standards.

7. Inventory Management Specialist Job Description

  • Material Management: Plan, implement, and monitor activities related to material management and inventory control to ensure efficient operations.
  • Inventory Reconciliation: Work to maintain inventory accuracy by researching and reconciling discrepancies in stock levels.
  • Sales Support: Support sales teams by providing accurate product information to customers, ensuring they have the resources needed for sales efforts.
  • Supply Coordination: Coordinate with Supply Chain teams to ensure product quality and availability, meeting customer demand and operational goals.
  • Production Accounting: Accurately reconcile and close manufacturing production orders, ensuring proper accounting and reporting of completed items.
  • Vendor Coordination: Process the sending and receiving of outside vendor purchase orders, ensuring timely and accurate deliveries.
  • Stock Monitoring: Monitor stock quantities and inventory data across various sites/locations, including manufacturing facilities, distribution centers, and tradeshow storage areas, ensuring consistent stock management.
  • Inventory Control: Manage and coordinate product inventory activities, including cycle count programs, and maintain accurate inventory balances across locations.
  • Process Improvement: Initiate continuous improvement initiatives by analyzing inventory variances, identifying root causes, and formulating recommendations to improve inventory accuracy.
  • Team Collaboration: Collaborate with and resource other distribution center teams to meet business needs and ensure seamless operations.

8. Inventory Management Specialist Functions

  • Data Validation: Review and validate ERP system transactional data to be used by planning and optimization software.
  • Inventory Modeling: Model service level-driven scenarios to establish optimal inventory policies for stock distribution and production components by balancing inventory costs against service level, fill rate, and financial objectives.
  • Demand Forecasting: Create demand forecasts for stock distribution and production items to support the inventory optimization process.
  • Statistical Analysis: Utilize demand planning software to select the optimal statistical method for each item, addressing seasonality, trending, and identifying items that merit closer review.
  • Forecast Collaboration: Collaborate with Sales and Operations to develop the organization’s consensus forecast.
  • Inventory Allocation: Manage the allocation, transfer, and redistribution of inventory between warehouses.
  • Performance Reporting: Report to the management team the main causes of stock outages, overages, and losses, and recommend corrective actions.
  • Policy Development: Develop, maintain, and communicate inventory management policies, processes, and procedures based on industry best practices.
  • Cross-Functional Communication: Manage the relationship with Customer Service and Procurement teams to provide effective communication of changes to purchase habits, as well as resolutions to product shortages, damages, long-term unavailability, and discontinued items.
  • Supplier Relationship Management: Build strong supplier relationships to mitigate risks around undesired long/short inventory and resolve supply shortages by understanding the root causes and recommending corrective actions.

9. Senior Inventory Management Specialist Accountabilities

  • Timber Coordination: Monitor the progress or obstacles of timber movement and coordinate with related parties for plan adjustments.
  • Goods Processing: Proceed with Goods Receipt (GR) or Goods Issue (GI) for timber, pallets, and other products on behalf of authorized parties based on the 4-eye principle and segregation of duties.
  • Reconciliation Monitoring: Monitor and verify transaction reconciliation output, raising issues and initiating solution development when discrepancies are found.
  • Inventory Coordination: Coordinate with all related parties involved in inventory movement to ensure alignment with Inventory Management policies and procedures.
  • Stock Count Leadership: Lead and plan all stock count activities, acting as the central point of contact for stock count processes.
  • Result Analysis: Analyze and conclude the counting results to proceed with subsequent activities such as PID posting, adjustment memo creation, and write-off memo creation.
  • Discrepancy Investigation: Lead deep investigations to determine the root cause of remaining discrepancies.
  • Adjustment Proposals: Provide related proposals for adjustments, write-offs, or other inventory treatments.
  • Adjustment Execution: Monitor and ensure the execution of inventory adjustments to guarantee they are completed accurately.
  • Reporting Management: Provide and monitor periodic reports, cascading information to relevant stakeholders.
  • Continuous Improvement: Initiate improvements and lead problem-solving efforts related to inventory management with both internal and external parties.
  • Issue Investigation: Be a key contributor to additional inventory issue investigations.
  • Team Liaison: Serve as the primary contact point for the Inventory Management team.
  • Policy Compliance: Act as a controller for Inventory Policy and Procedure compliance.

10. Inventory Management Specialist Job Summary

  • Inventory Management: Monitor and maintain inventory of specialized surgical supplies, including implantable items, electronic devices, and surgical tables, ensuring availability for scheduled cases.
  • Supply Reordering: Track supply usage and initiate reorders based on par levels, regularly reviewing and adjusting par level requirements.
  • Order Verification: Receive, inspect, and verify orders, following up with Purchasing personnel and vendors to resolve any errors, delays, or related issues.
  • Stock Distribution: Distribute, restock, and maintain inventory in designated storage areas, ensuring proper storage and organization.
  • Stock Rotation: Rotate stock regularly and inspect items for proper packaging and labeling to maintain inventory integrity.
  • Workplace Maintenance: Maintain cleanliness and organization in all storage areas to ensure a safe and efficient working environment.
  • Record Management: Monitor and maintain accurate records for inventory, purchasing, and repairs.
  • Invoice Processing: Receive and verify billing invoices, prepare payment requisitions, and respond to related inquiries on time.
  • Budget Monitoring: Monitor and reconcile expenses against budget allotments to ensure cost-effective supply management.
  • Budget Preparation: Collect information for the preparation of annual supply and capital equipment budgets, contributing to budget planning.
  • Equipment Maintenance: Oversee the maintenance and repair of equipment for assigned services, ensuring functionality and readiness.
  • Surgical Equipment Setup: Set up and inspect designated equipment for surgical procedures, perform routine maintenance, and arrange for services through appropriate hospital departments or vendors.
  • Equipment Availability: Monitor equipment availability and provide substitutions for scheduled surgical cases.
  • Equipment Procurement: Assist in the selection and introduction of new equipment and supplies, ensuring compatibility and suitability for surgical needs.
  • Supply Consultation: Serve as a resource on sourcing, cost, and usage of service-specific supplies and equipment.
  • Committee Participation: Participate in related committees and project teams as assigned, contributing to process improvement and operational efficiency.
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