Inventory Manager

Rich's, also known as Rich Products Corporation, is a family-owned food company dedicated to inspiring possibilities. From cakes and icings to pizza, appetizers and specialty toppings, our products are used in homes, restaurants and bakeries around the world. Beyond great food, our customers also gain insights to help them stay competitive, no matter their size. Our portfolio includes creative solutions geared at helping food industry professionals compete in food service, retail, in-store bakery, deli, and prepared foods, among others.

Working in 100 locations globally, with annual sales exceeding $4 billion, Rich's is a global leader with a focus on everything that family makes possible. Rich's-Infinite Possibilities. One Family.

Purpose Statement

The role of inventory manager is to anticipate and maintain stock levels and perform stock analysis to ensure inventory levels which are financially feasible along with maintaining the service levels. The inventory manager will be responsible to work cross-functionally with CBUs, Demand Planning Team, Supply Planning Team, Plant Operations, Procurement, Logistics and Finance for maintaining accurate inputs to Inventory Optimization and to share output scenarios to meet organizational inventory related KPIs.

Inventory Manager will be working with Supply Planning Managers to ensure that the approved inventory targets are utilized in supply planning for production and replenishment decisions throughout the network.

Key Accountabilities and Outcomes

* Review segmentation attributes every 6 months or on major events that influence medium to long term demand and narrow down on most impactful attributes for segmentation.

* Perform strategic and incremental segmentation and analyze the results of segmentation process and highlight anomalies if any.

* Review SKU drift analysis between clusters in collaboration with Inventory Planning CoE SME and share major / impactful deviations cross-functionally.

* Assign service levels and inventory coverage targets overrides to the identified SKU clusters or underlying SKUs in collaboration with CBUs.

* Review the inventory level targets recommended by the IO optimization engine and perform stability analysis, target vs actual analysis in volume, days of coverage and financial terms.

* Understand the causes of change in inventory levels to take corrective actions on target inventory level maintenance.

* Simulate scenarios with potential corrective actions in inputs, like forecast accuracy, lead time variability, service levels, costs, storage, master data and identify options for decision making.

* Perform manual overrides if required to arrive at optimal inventory targets. Perform cross-functional collaboration for high volume, high impact inventory level decisions.

* Provide Demand Planning Managers with SKUs that are having high inventory coverage recommendations due to poor forecast accuracy.

* Provide Procurement with SKUs that are having high inventory coverage recommendations due to poor supplier lead time variability.

* Provide Logistics with SKUs that are having high inventory coverage recommendations due to poor transportation lead time variability.

* Monitor and track inventory targets in different forms (FG, WIP, RM) at different nodes of supply chain to ensure service levels with optimal inventory investments.

* Analyze the replenishment policies for finished goods after every analyzer run which will happen once in every six months.

* Track, report, and analyze KPIs and report to Planning Director for elevating exceptions in Supply Review Meeting of IBP process.

Knowledge, Skills, and Experience

* Knowledge of Blue Yonder IO preferred, data analytics, scenario planning and data driven insight generation

* Understanding of inventory optimization process concepts and drivers of inventory targets

* Knowledge of inventory optimization KPIs and their impact on the organizational and cross-functional KPIs and vice versa

* Understanding of cross-functional levers for inventory optimization and risk mitigation and resolution for better performance

* Experience with SKU segmentation process and attributes that drive the segmentation

* Skilled at negotiation, collaborative decision-making

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COMPENSATION

In accordance with state law, the rate or range provided is Rich Products Corporation, its subsidiaries and affiliates ("Rich's"), reasonable estimate of the base compensation for this role. The actual amount may be higher or lower, based on non-discriminatory factors such as experience, knowledge, skills, abilities, shift differential, and location.

Annual Range/Hourly Rate

$93,886.00 - $

Rich Products Corporation, its subsidiaries and affiliates ("Rich's"), are committed to a policy of Equal Employment Opportunity, standing up for fairness and maintaining a culture of belonging, to provide an exceptional experience for all. We will not discriminate against an applicant or employee on the basis of race, color, religion, sex, national origin,…