Inventory Planning & Forecasting Specialist

Key Job Purpose

• Responsible for managing the inventory of spare parts to ensure availability while minimizing excess inventory and associated costs
• Involves forecasting demand, managing supplier relationships, and optimizing inventory levels to support operational efficiency

Job Description

Inventory Management

• Develop and maintain inventory plans for spare parts to ensure optimal stock levels
• Monitor inventory levels and adjust reorder points and quantities based on usage patterns, historical data and estimated forecasts
• Manage transition between discontinued and replacement parts released via ECR/TB

Demand Forecasting

• Analyze historical usage data, equipment maintenance schedules, and operational requirements to forecast spare parts demand accurately
• Collaborate with service engineers to understand upcoming requirements and adjust inventory plans accordingly

Supplier Management and Order Processing

• Maintain strong relationships with suppliers to ensure timely delivery and quality of parts
• Track status of purchase order and expedite shipment when necessary
• Coordinate with supply chain and shared services on back orders to avoid operational disruptions and resolve any issues related to orders or deliveries

Data Analysis and Reporting

• Utilize inventory management systems and tools to track stock levels, order history and usage trends
• Generate reports on inventory status, demand forecasts and supplier performance

Documentation and Process Improvement

• Maintain accurate records and documentation related to inventory and procurement activities
• Continuously evaluate and improve inventory management processes and procedures
• Implement best practices for spare parts planning and inventory control to enhance efficiency and reduce waste

Any other additional related responsibilities and project as assigned by superior

Job Requirements

• NITEC or Diploma, or equivalent qualification in Supply Chain Management or a related field
• Minimum of 2 years’ relevant working experience
• Proficient in Microsoft Excel
• Strong oral and written communication skills in English
• Demonstrates high standards of professionalism and integrity in conduct, communication, and work practices

Additional Advantage

• Prior experience with ERP systems, particularly SAP, will be an added advantage but is not mandatory