Inventory and Shrinkage Optimization Specialist The Inventory and Shrinkage Optimization Specialist plays a crucial role in ensuring the accuracy of inventory levels, minimizing shrinkage, and optimizing stock levels. This position involves implementing inventory control strategies, loss prevention initiatives, and process improvements in collaboration with operations, procurement, and security teams. Main Responsibilities: - Maintain optimal inventory levels aligned with demand forecasts and financial objectives. - Develop and implement inventory control policies to ensure accuracy and efficiency. - Monitor stock levels and collaborate with procurement and sales teams to prevent overstock or stockouts. - Analyze and investigate inventory discrepancies, implementing corrective actions as needed. - Utilize inventory management systems (IMS, ERP, WMS) to enhance stock visibility and traceability. Shrinkage Control & Loss Prevention: - Identify and analyze the causes of inventory shrinkage, including theft, damage, administrative errors, and supplier issues. - Develop and implement shrinkage reduction programs, including security measures, staff training, and process improvements. - Monitor high-risk inventory areas and work with security teams to prevent theft and fraud. - Ensure compliance with company policies and audit requirements. - Implement technologies such as RFID tracking, CCTV surveillance, and AI-based inventory monitoring to enhance loss prevention. Operational Efficiency & Compliance: - Improve inventory handling processes to reduce costs and enhance efficiency. - Train staff on best practices for inventory control and shrinkage prevention. - Work closely with finance and audit teams to ensure accurate inventory reporting. Reporting & Analysis: - Generate inventory performance reports, shrinkage trends, and key metrics. - Provide insights and recommendations for strategic decision-making. - Define and track KPIs related to inventory accuracy and shrinkage reduction. - Required Skills and Qualifications: - Bachelor's degree in Business Administration, Logistics, Supply Chain Management, or a related field. - 5+ years of experience in inventory management, loss prevention, or supply chain operations. - Proficiency with ERP/WMS software (SAP, Oracle, NetSuite, etc.). - Experience in inventory optimization and shrinkage reduction strategies. - Certifications in Supply Chain/Inventory Management (e.g., APICS, CPIM) are a plus. Key Performance Indicators (KPIs): - Optimal Inventory Level (%): Maintaining stock levels within defined targets to minimize costs and maximize availability. - Shrinkage Percentage (%): Reduction in inventory losses due to damage, theft, or administrative errors.