Job Responsibilities
Inventory Analyst/Manager 20 hours; Purchasing 10 hours; Customs
and Traffic 5 hours; Reports to Executive 5 hours.
Responsibilities include managing inventory dollars in excess of
$30 million. Meeting corporate goals and targets re Inventory
turns, days of sales in inventory as per forecast, total and
individual dollars. Meeting personal objectives.
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Job Requirements
This position in some cases requires a college degree, but in
all cases an APICS certification or equivalent experience.
APICS certification is usually taken either on line or evening
classes and requires passing on seven modules. The usual is to
take two modules per year.
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Uppers
The best part of Materials Management is the challenges and the satisafaction in
meeting those challenges. Every time the phone rings there is a new issue to
deal with. When you have the experience you can be very creative in meeting the
needs of your internal and external customers. Also presenting your successful
targets to the executive is very rewarding in itself.
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Downers
In Materials Management you usually cannot please both ends of
the business at the same time. Accounting wants the inventory
dollars kept low, Sales wants the shelves full NOW! It it your
job to keep a good balance and get the most in returned sales
for the inventory dollars you are carrying.
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Lifestyle
The lifestyle for this position is committment to getting the job done and
solving issues immediately. This may mean working longer hours. In most cases
business travel is necessary on a limited basis. You are expected to create a
good working relationship with your vendors which means meeting with them in the
office or socially. The dress code is business casual in most cases. In this
position you interact with all departments and level of management, executive,
sales, accounting, IT, warehouse, product management, forecasters.
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Compensation
The compensation for Materials Managers is very good. Depending
on the size of the company, the respect for this position the
company holds; some companies think no more of this position
than an expeditor, but the good ones place it at executive
lever. The annual base salary does depend on how the company
values this position but it could be as high as $80 thousand to
$100 thousand per year or a low as $30 to $40 thousand per
year. In almost all cases there is a bonus incentive. Again
depending on the value the company holds for this position it
could be as high as 17 - 20% of salary or as low as merit bonus
only. In the Pharmacutical industry the benefits are very
good. In some other small manufacturing companies the benefits
are there but limited.
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Advice to Jobseekers
My advice for newcomers considering Materials Management is GO
FOR IT! There is potential for great rewards not only monetary,
but personal satisfaction. However, you must be able to think
quickly on your feet and have an analytical mindset. Inventory
Management and control will always be required, no matter how
big or how small the company. Get your APICS certification you
will be in more demand. Respect your career, always better
yourself and keep up with what is new in methods, technology,
markets. It is an ever changing world.
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