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The manager is responsible for managing the staff in the inventory department. The documentation is useful for formulating marketing and procurement policies and strategies to improve stock turnover. It is the responsibility of the inventory manager to ensure the integrity of the stock management systems to guard against pilferage, theft, fraud and other activities that adversely affect the organization’s operations.
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The manager also needs to track the inventory flow to identify slow moving and dead stock. He records the quality, quantity, type, style and any other characteristic of goods that the organization holds in inventory to give the rest of the management team a clear picture of what the organization has and what it needs. The inventory manager must prepare and ensure the accuracy of documentation relating to inventory. As such, he is responsible for establishing and maintaining relationships with suppliers to ensure efficiency along the supply chain. In some cases, the inventory manager might double as the purchasing manager. If the marketing department is running a promotion, the inventory manager should be apprised so he can include the promotional items in the order. He liaises with the marketing, customer relations and warehousing departments to ensure that the customer’s order is properly filled with the exact goods that were requisitioned. The inventory manager is responsible for directing the flow of goods into, through and out of the organization’s storage facilities. It is up to the inventory manager to ascertain the quality of goods that are delivered to the organization and also to confirm that they are still in excellent condition before they are shipped out to the customer. He also works with the rest of the management team to ensure that the organization has adequate supply of stock during peak customer periods, such as during sales and on holidays. He monitors the levels of stock and makes purchase orders when it falls below desirable levels. Ensuring that the organization has optimal levels of stock is one of the key responsibilities of an inventory manager.