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Inventory management specialist hiring summary. Here are some key points about hiring inventory management specialists in the United States:
Here's a step-by-step inventory management specialist hiring guide:
An inventory management specialist is responsible for maintaining the adequacy of stock supplies to support customers' needs. Inventory management specialists help develop inventory processes and strategies to keep the supplies organized and free of any defects while on storage. They also monitor inventory costs and process orders through various software tools, requiring them to have a working knowledge of computer systems and the ability to operate warehouse equipment and machinery on moving merchandise around the warehouse.
First, determine the employments status of the inventory management specialist you need to hire. Certain inventory management specialist roles might require a full-time employee, whereas others can be done by part-time workers or contractors.
An inventory management specialist's background is also an important factor in determining whether they'll be a good fit for the position. For example, inventory management specialists from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.
This list presents inventory management specialist salaries for various positions.
| Type of Inventory Management Specialist | Description | Hourly rate |
|---|---|---|
| Inventory Management Specialist | $18-38 | |
| Supply Chain Consultant | A supply chain consultant specializes in performing research and analysis to develop strategies for optimal services. Typically working in the manufacturing industry, their responsibilities revolve around monitoring the inventory and supply flow of materials, liaising with vendors and suppliers, coordinating with different departments to gather necessary data, identifying strengths and weaknesses in the operations, and suggesting actions on areas needing improvement... Show more | $33-53 |
| Supply Chain Vice President | The supply chain vice president is responsible for directing and planning all aspects of an organization's supply chain initiatives, policies, and objectives. You will oversee the inventory, distribution, and transportation activities of an organization... Show more | $44-97 |
Including a salary range in the inventory management specialist job description is a good way to get more applicants. An inventory management specialist salary can be affected by several factors, such as the location of the job, the level of experience, education, certifications, and the employer's prestige.
For example, the average salary for an inventory management specialist in Tennessee may be lower than in Maryland, and an entry-level engineer typically earns less than a senior-level inventory management specialist. Additionally, an inventory management specialist with lots of experience in the field may command a higher salary as a result.
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | California | $70,370 | $34 |
| 2 | Michigan | $67,299 | $32 |
| 3 | New York | $66,899 | $32 |
| 4 | District of Columbia | $66,390 | $32 |
| 5 | Indiana | $65,373 | $31 |
| 6 | North Carolina | $63,275 | $30 |
| 7 | Pennsylvania | $62,251 | $30 |
| 8 | Illinois | $61,753 | $30 |
| 9 | Massachusetts | $59,554 | $29 |
| 10 | Colorado | $58,058 | $28 |
| 11 | Missouri | $56,469 | $27 |
| 12 | Ohio | $55,477 | $27 |
| 13 | Alaska | $54,685 | $26 |
| 14 | Kansas | $54,451 | $26 |
| 15 | Minnesota | $52,083 | $25 |
| 16 | Utah | $51,469 | $25 |
| 17 | Georgia | $50,566 | $24 |
| 18 | Texas | $50,353 | $24 |
| 19 | Florida | $44,456 | $21 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | NVIDIA | $114,262 | $54.93 | 7 |
| 2 | Genentech | $107,500 | $51.68 | 6 |
| 3 | McKinsey & Company Inc | $97,425 | $46.84 | 26 |
| 4 | BNY Mellon | $94,154 | $45.27 | 34 |
| 5 | Santander Bank | $93,867 | $45.13 | 6 |
| 6 | Altice USA | $92,392 | $44.42 | |
| 7 | Medtronic | $91,557 | $44.02 | 226 |
| 8 | Accenture | $86,953 | $41.80 | 821 |
| 9 | CDM Smith | $84,830 | $40.78 | 785 |
| 10 | Point B | $83,198 | $40.00 | |
| 11 | Thermo Fisher Scientific | $81,230 | $39.05 | 60 |
| 12 | PerkinElmer | $80,621 | $38.76 | |
| 13 | U.S. Secret Service | $80,516 | $38.71 | |
| 14 | Department of Homeland Security | $79,823 | $38.38 | 4 |
| 15 | ClientSolv | $76,258 | $36.66 | |
| 16 | Tecsys | $75,671 | $36.38 | |
| 17 | Deloitte | $74,111 | $35.63 | 1,057 |
| 18 | Cummins | $73,552 | $35.36 | 10 |
| 19 | L3Harris | $72,995 | $35.09 | 91 |
| 20 | Boston Dynamics | $72,888 | $35.04 |
An inventory management specialist job description should include a summary of the role, required skills, and a list of responsibilities. It's also good to include a salary range and the first name of the hiring manager. To help get you started, here's an example of an inventory management specialist job description:
To find inventory management specialists for your business, try out a few different recruiting strategies:
To successfully recruit inventory management specialists, your first interview needs to engage with candidates to learn about their interest in the role and experience in the field. You can go into more detail about the company, the role, and the responsibilities during follow-up interviews.
You should also ask about candidates' unique skills and talents to see if they match the ideal candidate profile you developed earlier. Candidates good enough for the next step can complete the technical interview.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you've found the inventory management specialist candidate you'd like to hire, it's time to write an offer letter. This should include an explicit job offer that includes the salary and the details of any other perks. Qualified candidates might be looking at multiple positions, so your offer must be competitive if you like the candidate. Also, be prepared for a negotiation stage, as candidates may way want to tweak the details of your initial offer. Once you've settled on these details, you can draft a contract to formalize your agreement.
You should also follow up with applicants who don't get the job with an email letting them know that you've filled the position.
To prepare for the new inventory management specialist first day, you should share an onboarding schedule with them that covers their first period on the job. You should also quickly complete any necessary paperwork, such as employee action forms and onboarding documents like I-9, benefits enrollment, and federal and state tax forms. Finally, Human Resources must ensure a new employee file is created for internal record keeping.
There are different types of costs for hiring inventory management specialists. One-time cost per hire for the recruitment process. Ongoing costs include employee salary, training, onboarding, benefits, insurance, and equipment. It is essential to consider all of these costs when evaluating hiring a new inventory management specialist employee.
You can expect to pay around $56,032 per year for an inventory management specialist, as this is the median yearly salary nationally. This can vary depending on what state or city you're hiring in. If you're hiring for contract work or on a per-project basis, hourly rates for inventory management specialists in the US typically range between $18 and $38 an hour.