What an inventory planner does
An inventory planner decides how much of each item to hold and when to replenish it. They review demand history and sales forecasts, set safety stock levels and reorder points, generate replenishment or purchase recommendations, and plan transfers between warehouses or stores. In manufacturing, they often run material requirements planning so components arrive in time for production. They also flag slow-moving and obsolete stock before it becomes a write-off.
Inventory ties up cash, space and handling time, while stockouts cost sales and customer trust. A good planner balances the two using data, judgment and regular conversations with sales, purchasing and operations. Finch screens candidates on the planning methods and systems they have actually used, and on their ability to defend a forecast when someone in sales disagrees with it.
Typical responsibilities
- Forecast demand by item and location using history, promotions and sales input
- Set and review safety stock, reorder points and order quantities
- Create replenishment and purchase recommendations for buyers
- Run MRP for production components and resolve shortages
- Monitor slow-moving, aged and obsolete inventory and propose actions
- Coordinate cycle counts and investigate inventory accuracy issues
Qualifications and credentials
- A degree or diploma in supply chain, business, mathematics or a related field
- Experience in demand or inventory planning for a manufacturer, distributor or retailer
- ASCM's CPIM designation is well regarded for planning roles
- Advanced Excel skills and experience with an ERP or dedicated planning tool
- Comfort with forecasting concepts such as seasonality, forecast error and ABC classification
Who hires an inventory planner
- Retail chains and e-commerce businesses
- Consumer goods and food manufacturers
- Industrial and automotive parts distributors
- Pharmaceutical and health product companies
Where we recruit inventory planner candidates
We fill inventory planner roles for employers across Toronto and the GTA, including North York, Scarborough, Etobicoke, Vaughan, Markham, Richmond Hill, Mississauga, Brampton, Oakville, Burlington, Oshawa and Pickering, and for employers across Canada. GTA employers can meet us at our North York office by appointment.
What Finch checks before you meet a candidate
- The breadth of the item range and locations they planned, and the method behind it
- Systems used for forecasting and replenishment, and how far they relied on system suggestions versus judgment
- Examples of reducing excess stock or stockouts, and how the result was measured
- How they work with sales on forecasts and with buyers on order timing
- Eligibility to work in Canada and fit with your team schedule and location
Interview questions to ask
- How do you set safety stock for an item with very irregular demand?
- Sales says a promotion will sharply increase demand next month. How do you plan for it?
- Tell me about an item you ended up with far too much of. How did it happen and what did you change?