Companies hire personnel in inventory control to ensure that products meet certain regulations and match customers' demands in terms of quantity and quality. While some inventory control positions may require only a high school diploma, a bachelor's degree will be required for higher level positions, such as inventory control coordinators or managers.
Jobs in the inventory control field include entry-level positions like inventory control clerk and advanced positions such as inventory manager and director. Coordinators ensure that inventory levels are accurate and in accordance with government regulations and corporate objectives. Education requirements vary by position and employer. Interested candidates should read on to learn about job descriptions and education requirements.
|Career||Inventory Control Clerk||Inventory Control Analyst||Inventory Control Manager|
|Education Requirements||High School Diploma||Bachelor's degree||Bachelor's degree|
|Projected Job Growth (2018-2028)*||1% for material recording clerks||14% for management analysts||14% for management analysts|
|Median Salary (2018)*||$28,860 for material recording clerks||$83,610 for management analysts||$83,610 for management analysts|
Source: * U.S. Bureau of Labor Statistics
Career Options for Inventory Control Coordinators
Inventory Control Clerks
One aspect of an inventory control clerk's role is to perform daily auditing tasks, such as counting products to verify the correct inventory quantity. They also make sure that products are not damaged, discard damaged products, document audits and correct inventory discrepancies. Clerks may relay auditing information to a supervisor or input corrections into the computer. Inventory control clerks may also be responsible for filing and retrieving reconciliation documents as well as other clerical or administrative duties. According to the Bureau of Labor Statistics (BLS), inventory control clerks earned a median annual salary of $28,860 in May 2018.
Inventory Control Analysts
Inventory control analysts, also known as inventory control specialists, evaluate sales records and inventory data in order to assess product demand. They may also address sourcing issues and assist controllers with inventory accounting. Analysts collaborate with operations and sales teams to coordinate product turnaround and support accounts payable personnel by verifying received material. These professionals may also be responsible for complying with government regulations and corporate procedures regarding inventory. The BLS reports that the median salary among management analysts, among which inventory control analysts and managers are included, was $83,610 in May 2018.
Inventory Control Managers
Part of an inventory control manager's job is to develop and implement systems to match product demand with vendor supply. Managers analyze inventory data then review and evaluate levels of product demand before instituting ways to quicken replenishment of high demand goods. They are also responsible for returning or discarding excess and obsolete inventory and managing internal control systems according to government laws such as the Sarbanes-Oxley Act. Additionally, managers oversee cycle count programs and train staff on inventory duties and adjustments.
Inventory Control Directors
Inventory control directors strategize with upper management in order to set inventory goals and profit objectives. They are responsible for managing the supply chain, improving inventory turnover and negotiating contracts with vendors. Additionally, directors establish and assess budgets, review cost-cutting measures and implement measures to increase supply chain efficiency.
Requirements for Inventory Control Coordinators
Employers generally require applicants to have a high school diploma, GED or its equivalent for entry-level positions such as inventory control clerks. Advancement generally requires a bachelor's degree, one or more years of experience in a supervisory role and proficiency in Microsoft Office. Management applicants may also be required to have experience with specific programs and applications such as Warehouse Management System (WMS) or Six Sigma. Promotion to upper level administrative and executive positions requires five or more years experience in inventory management.
Inventory control positions include clerks, analysts, managers and directors. Advancement in inventory control will require a formal education and, in some cases, extra certifications.