Inventory Officer Duties & Responsibilities
The role and function of an Inventory Officer includes the following duties and responsibilities:
- The inventory officer is responsible for preparing the purchase orders, receiving, storing, issuing the goods, managing the stock levels and giving out the supplies from the stock.
- He/she is also involved in preparing the inventories, maintaining the stock records, using computerized systems for entering the records and is accountable for checking the supply invoices with the purchase orders.
- To oversee that the arrangement of goods has been done in an orderly system within the stock location system so that the stock can be stored easily and retrieved whenever there is a requirement. Similarly, he/she ensures that the stocks stay physically protected in the warehouse
- To undertake the function of stock taking and confirm the periodic stock on a regular basis by working closely with the designated staff members
- To supervise the offloading process, the subsequent arrangement of merchandise, material, etc., and consignment so that it can be accessed and identified easily
- To ensure the correct and timely valuation of the inventory and to be involved in directing and managing procedures related to offloading, packing and unpacking
- He/she is responsible for preparing the reports on adjustments done to inventories that may be damaged, spoilt, etc., and coordinates the purchasing, inventory and warehousing functions.
- He/she finds out sources of supply and is responsible for obtaining quotes from the suppliers as well.
- He/she makes sure to get rid of the surplus or obsolete stock.
- To maintain record of receipts as well as issuance of items that are going out of the warehouse so as to ensure accuracy and completeness
- To be involved in reconciliation of physical stock with the stock in the system
Note that this is not an exhaustive list of Inventory Officer duties and responsibilities. Job functions for specific Inventory Officer roles may vary, depending on the industry and type of employer.