"Inventory managers are responsible for monitoring warehouse inventory and managing on-site employees. During an interview, expect to answer questions that test your analytical thinking skills, recording abilities, and knowledge of database and inventory keeping software. You may also be asked about your past experience in keeping track of inventory, forecasting inventory needs, and recoring items as they come and go. Employers will expect you to have at least a bachelor's degree in business administration or a similar field."
What actions would you take if you found that you are actually carrying too much inventory?
I would consider 1- Looking at demand patterns at other sites/regions and looking at moving inventory 2- Working with pricing team to offer discounts to drive demand 3 - Add it as a kit with another item and sell it 4 - Scrap it
Firstly, I would evaluate whether there’s a seasonality. (e,g, Prior to black Friday, we may encounter decrease in demand because people don’t buy until it’s black Friday. If there’s no seasonality issues - Short-term solutions : From demand aspect Increase demand by 1. Bundling 2. Discount (coordination with Pricing / Marketing team) From supply aspect : a. For non-perishable products that have salvage value – Return to supplier b. For perishable products – Resell it to bakeries or scrap them Long-term solution : Adjust the demand forecast model (increase forecast accuracy) Adjust inventory model (decrease safety stock)