The inventory officer is primarily responsible for handling the Finished Goods management responsibilities that include acquisition of the Finish Goods, Aged items, etc., and its proper distribution. The purpose of this position is to coordinate the activities of those engaged in inventory management and to ensure that optimum levels of inventory is maintained and that it is at par with quality standards. He/she is also responsible for keeping a track of the inventory records and making sure that it is accurate.
The inventory officer is responsible for preparing the purchase orders, receiving, storing, issuing the goods, managing the stock levels and giving out the supplies from the stock. He/she is also involved in preparing the inventories, maintaining the stock records, using computerized systems for entering the records and is accountable for checking the supply invoices with the purchase orders. He/she is responsible for preparing the reports on adjustments done to inventories that may be damaged, spoilt, etc., and coordinates the purchasing, inventory and warehousing functions. He/she finds out sources of supply and is responsible for obtaining quotes from the suppliers as well. He/she makes sure to get rid of the surplus or obsolete stock. The role of this professional can be understood in a better way by looking into the details as to what exactly are the key responsibilities that need to be carried out by an inventory officer working in any organization:
1- To maintain record of receipts as well as issuance of items that are going out of the warehouse so as to ensure accuracy and completeness
2- To be involved in reconciliation of physical stock with the stock in the system
3- To oversee that the arrangement of goods has been done in an orderly system within the stock location system so that the stock can be stored easily and retrieved whenever there is a requirement.
4- To undertake the function of stock taking and confirm the periodic stock on a regular basis by working closely with the designated staff members
5- To ensure the correct and timely valuation of the inventory and to be involved in directing and managing procedures related to Picking, packing and unpacking.