How to Be Inventory Control Specialist - Job Description, Skills, and Interview Questions

Jan 16, 2020 / 6 Minutes Read / By Albert

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Inventory Control Specialists are responsible for managing an organization's inventory, which has a direct effect on the company's bottom line. By overseeing the stock levels, ordering, and storing of goods and materials, these professionals ensure that the company is efficiently and effectively managing its resources. In addition, Inventory Control Specialists help to minimize the risk of inventory loss due to theft, natural disasters, or other unexpected events. Through their work, they help to maximize profits and minimize costs, allowing companies to remain competitive in the marketplace.

Steps How to Become

Obtain a High School Diploma. To become an inventory control specialist, you must first obtain a high school diploma or its equivalent. Many employers prefer to hire candidates who have some postsecondary education.
Consider Postsecondary Education. To increase your chances of landing an inventory control specialist job, consider obtaining a postsecondary degree in business administration, accounting or a related field.
Gain Experience. You can gain experience in inventory control by working as a warehouse clerk, shipping and receiving clerk or stocker, which allows you to learn the basics of inventory control.
Pursue Certification. You can demonstrate your commitment to your career and increase your chances of getting hired by obtaining a Certified Professional in Supply Management (CPSM) certification from the Institute for Supply Management. This credential requires you to pass three exams and meet other requirements.
Obtain a Job. Once you have the necessary education and experience, you can pursue an entry-level position as an inventory control specialist with a retail company, manufacturing facility or warehouse. Many employers prefer to hire inventory control specialists who have some postsecondary education and/or experience with supply chain management software programs.
Advance Your Career. As you gain experience in the field, you can take on more advanced roles such as inventory manager or supervisor. You may also pursue additional certifications to increase your chances of advancement.

Inventory control specialists are tasked with the responsibility of ensuring that businesses have the supplies and materials they need to operate efficiently and profitably. To stay ahead and efficient, inventory control specialists must constantly monitor stock levels, anticipate customer demand, and proactively work to minimize costs while maintaining quality. This requires a comprehensive understanding of inventory management principles, such as forecasting, purchasing, stocking, and pricing strategies.

it is essential for inventory control specialists to utilize data analysis tools to identify trends and make informed decisions. By using these methods, inventory control specialists can help streamline operations while keeping cost and quality in check, allowing businesses to remain competitive and profitable in the long run.

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Job Description

Ensure accurate inventory levels by conducting physical counts and reconciling with computer system
Monitor and adjust inventory levels to maintain stock accuracy
Lead cycle count activities and investigate discrepancies
Monitor stock replenishment process to ensure availability of products
Help streamline warehouse operations through the use of technology
Create and implement strategies to reduce excess inventory and improve accuracy
Manage inventory systems to ensure accuracy in records and reports
Analyze inventory data to identify trends in product usage and customer demand
Develop and maintain inventory tracking procedures and policies
Prepare reports on inventory levels, needs, and trends
Monitor vendor performance and evaluate potential suppliers
Coordinate with other departments to ensure accuracy in inventory records
Supervise and manage the work of inventory control personnel

Skills and Competencies to Have

Knowledge of inventory management and control principles
Ability to analyze data and generate reports
Ability to develop and implement new inventory control systems
Ability to maintain accurate inventory records
Ability to identify and resolve discrepancies in inventory records
Ability to use computer software for tracking and managing inventory
Excellent organizational skills
Strong communication skills
Ability to work independently and as part of a team
Attention to detail and accuracy

Inventory Control Specialists play an important role in keeping businesses organized and efficient. The most important skill to have as an Inventory Control Specialist is the ability to accurately track and record inventory levels. This requires strong organizational skills, attention to detail, and the ability to stay up to date with changes in inventory levels.

Having an understanding of different inventory management systems, such as barcode scanning and material tracking software, is also important. strong communication skills are necessary to effectively communicate with suppliers, vendors, and other stakeholders. By having these skills, Inventory Control Specialists can ensure that inventory levels are appropriately managed, which in turn can help avoid costly overstocking or out-of-stock situations that can lead to lost sales opportunities.

Sales Specialist, Production Control Specialist, and Project Management Specialist are related jobs you may like.

Frequent Interview Questions

What experience do you have in inventory control and management?
How have you used technology to improve inventory accuracy and visibility?
How do you ensure that inventory is accurately tracked and reported?
What strategies have you implemented to reduce inventory levels and improve inventory control?
How have you handled the challenge of balancing customer demands with available inventory?
What strategies have you used to prevent stockouts and shortages?
How do you stay up-to-date with the latest industry trends and best practices in inventory control?
How do you handle difficult conversations with vendors regarding inventory issues?
Describe a time when you identified an inventory discrepancy and how you resolved it.
How do you motivate your team to meet inventory goals?

Common Tools in Industry

Barcode Scanner. A device used to scan and read barcodes, which are then used to identify products for inventory management. (e. g. Honeywell Voyager Barcode Scanner)
Computerized Inventory System. A software program or database that stores and tracks inventory and stock levels. (e. g. InventoryPlus)
RFID Reader. A device used to read and write data from RFID tags, which are used to track the movement of goods. (e. g. Impinj Speedway Revolution Reader)
Warehouse Management System. A system used to track inventory, manage storage locations, and optimize processes in warehouses and distribution centers. (e. g. SAP Extended Warehouse Management)
Inventory Tracking Software. Software used to monitor inventory levels, receive alerts when supplies are running low, and generate reports. (e. g. Fishbowl Inventory)
Automated Data Collection System. A system used to collect, store, and analyze data from various sources. (e. g. Zebra MC3300 Mobile Computer)

Professional Organizations to Know

International Association of Inventory Management (IIMA)
National Association for Stockkeeping and Materials Management (NASMM)
Institute for Supply Management (ISM)
Warehousing Education and Research Council (WERC)
International Inventory Control & Management Association (IICMA)
National Council of Supply Chain Professionals (NCSCP)
Chartered Institute of Logistics and Transport (CILT)
Institute of Business Forecasting & Planning (IBF)
American Production and Inventory Control Society (APICS)
American Society of Transportation & Logistics (AST&L)

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Common Important Terms

ABC Analysis. A method of inventory control that categorizes inventory items into three classes: A (high value and low volume), B (medium value and medium volume), and C (low value and high volume).
Cycle Counting. A method of inventory control that involves counting a select number of items at regular intervals.
Inventory Turnover. A metric that measures how quickly a company sells its inventory over a given period of time.
Reorder Point. The predetermined stock level at which an item needs to be reordered in order to maintain sufficient inventory levels.
Stockouts. A situation in which an item is out of stock and unavailable for sale.
Stock Rotation. The process of rotating inventory items, usually from oldest to newest, in order to ensure freshness and quality.
Barcoding. A method of tracking inventory items using barcodes that are scanned into a computer system.
Point-of-Sale (POS) System. A computerized system used to record customer purchases and track inventory levels.

Frequently Asked Questions

What are the key responsibilities of an Inventory Control Specialist?

An Inventory Control Specialist is responsible for monitoring and controlling the storage and movement of inventory, keeping accurate records of inventories, and making sure inventory levels are maintained. They may also participate in physical inventory counts, ensure the accuracy of stock records, investigate discrepancies between actual and recorded inventory levels, and recommend improvements to inventory management processes.

What qualifications are needed to become an Inventory Control Specialist?

To become an Inventory Control Specialist, it is typically necessary to have a high school diploma or GED, as well as some experience in warehousing, logistics, supply chain management, or related fields. Additionally, many organizations require certain certifications or training for Inventory Control Specialists, such as Certified Inventory Management (CIM) or Certified Logistics Technician (CLT).

How much does an Inventory Control Specialist typically earn?

According to PayScale, the average salary for an Inventory Control Specialist ranges from $30,000 to $51,000 per year. This amount may vary based on experience, location, and other factors.

What software is used by Inventory Control Specialists?

Inventory Control Specialists use a variety of software programs to monitor and manage inventory levels. These include enterprise resource planning (ERP) systems, warehouse management systems (WMS), and inventory control systems (ICS). The specific software used depends on the organization and its needs.

What are the benefits of working as an Inventory Control Specialist?

Working as an Inventory Control Specialist offers many benefits, such as job security due to the increasing demand for this role in many industries, the opportunity to work with a variety of people and technologies, and the opportunity to improve processes and increase efficiency. Additionally, there may be opportunities for career advancement or further training and education.

Web Resources

Inventory Control and Distribution Specialist | PSU Human hr.psu.edu
Inventory Control Spec 2-9 - University of Cincinnati jobs.uc.edu
Inventory Control / Capitalization | Accounting Office accountingoffice.uconn.edu