Product Planner

2 weeks ago

Navi Mumbai, India Azelis Full time

Job Objective

Position Overview: A Stock Planner plays a crucial role in managing and optimizing inventory levels for a company or retail organization. They are responsible for developing and executing effective inventory strategies to meet customer demand, minimize stockouts, reduce excess inventory, and improve overall supply chain efficiency. The Stock Planner collaborates with various teams such as purchasing, sales, and logistics to ensure accurate forecasting, inventory replenishment, and timely delivery of goods.

Main Duties & Responsibilities

Demand Forecasting & Analysis
- Utilize historical data, market trends, and other relevant factors to forecast customer demand for various products.
- Analyze sales patterns, promotional activities, and market conditions to identify demand fluctuations and adjust inventory plans accordingly.
- Collaborate with sales and marketing teams to gather insights and align forecasting with promotional activities and product launches.

Inventory Planning & Optimization
- Develop inventory strategies and policies to maintain appropriate stock levels across different product categories, considering factors such as lead time, order frequency, and sales velocity.
- Monitor inventory levels, sales performance, and replenishment lead times to identify potential stockouts, overstocks, or slow-moving inventory.
- Implement inventory optimization techniques, including safety stock calculations, reorder points, and economic order quantities (EOQ) to ensure efficient inventory management.

Supply Chain Coordination
- Collaborate with purchasing and procurement teams to ensure timely procurement of goods and materials, considering lead times, supplier performance, and production schedules.
- Coordinate with logistics and warehouse teams to ensure accurate inventory counts, efficient storage, and smooth order fulfillment processes.
- Monitor inbound and outbound shipments to ensure timely delivery of goods and resolve any transportation-related issues.

Data Analysis & Reporting
- Analyze inventory data, sales reports, and other relevant metrics to identify trends, insights, and opportunities for improvement.
- Generate regular reports on inventory performance, stock accuracy, forecast accuracy, and key performance indicators (KPIs) to management and other stakeholders.
- Make data-driven recommendations to optimize inventory levels, improve forecast accuracy, and enhance supply chain efficiency.

Cross Functional Collaboration
- Collaborate with cross-functional teams, including sales, marketing, finance, and operations, to align inventory plans with business goals, promotional activities, and financial targets.
- Participate in regular meetings and planning sessions to provide insights, share updates, and address any inventory-related issues or concerns.

Qualification & Skills
- Bachelor's degree in supply chain management, logistics, business administration, or a related field. Relevant certifications are a plus.
- Proven experience in inventory planning, demand forecasting, or supply chain management within a distribution setup.
- Strong analytical and problem-solving skills with the ability to work with large datasets, perform data analysis, and generate actionable insights.
- Proficiency in inventory planning software, enterprise resource planning (ERP) systems, and other inventory management tools.
- Excellent communication and interpersonal skills to collaborate effectively with cross-functional teams and stakeholders.
- Ability to work in a fast-paced, dynamic environment, prioritize tasks, and meet deadlines.
- Strong attention to detail and accuracy in managing inventory data and conducting analysis.
- Knowledge of supply chain best practices, inventory optimization techniques, and industry trends.
- Familiarity with demand planning methodologies, statistical forecasting models, and inventory control principles.

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