Inventory management specialists help companies manage their inventory levels to meet customer demand and reduce losses. They lead and participate in inventory planning and strategy. They monitor inventory levels and restock as needed. Also, they inspect products and stock levels to spot potential problems. Using the information from sales reports and inventory counts, they forecast inventory needs. Similarly, they recommend when to purchase stock from vendors and reduce prices. Furthermore, they prepare regular inventory reports on regular counts, stock outages, and replenishments, among others.
For this role, you need a minimum of a high school diploma. However, some employers prefer a bachelor's degree. You must have previous relevant work experience. Core skills are problem-solving, maths, and communication skills. Work tools include lifting equipment, inventory tracking tools, productivity software, and inventory management software. These experts are paid about $47,915 per annum. Their salary is between $26,000 and $87,000.
There is more than meets the eye when it comes to being an Inventory Management Specialist. For example, did you know that they make an average of $27.21 an hour? That's $56,603 a year!
Between 2018 and 2028, the career is expected to grow 1% and produce 46,900 job opportunities across the U.S.
There are certain skills that many Inventory Management Specialists have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed Detail oriented, Math skills and Customer-service skills.
If you're interested in becoming an Inventory Management Specialist, one of the first things to consider is how much education you need. We've determined that 38.5% of Inventory Management Specialists have a bachelor's degree. In terms of higher education levels, we found that 4.8% of Inventory Management Specialists have master's degrees. Even though some Inventory Management Specialists have a college degree, it's possible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become an Inventory Management Specialist. When we researched the most common majors for an Inventory Management Specialist, we found that they most commonly earn Bachelor's Degree degrees or High School Diploma degrees. Other degrees that we often see on Inventory Management Specialist resumes include Associate Degree degrees or Diploma degrees.
You may find that experience in other jobs will help you become an Inventory Management Specialist. In fact, many Inventory Management Specialist jobs require experience in a role such as Cashier. Meanwhile, many Inventory Management Specialists also have previous career experience in roles such as Sales Associate or Customer Service Representative.