Inventory Control Manager Salary
Job Description for Inventory Control Manager
Inventory control managers oversee inventory levels to ensure that they are neither too high nor too low. They are also responsible for replenishing spent inventory, arranging for the return or disposal, and preventing shrinkage as necessary. Inventory control managers are often found in fields such as retail stores and distribution centers, food service, and manufacturing. Inventory control managers may also be employed by inventory management services, which are hired as contractors by businesses to conduct external audits on store or warehouse inventories; in this role, inventory control managers may coordinate inventory-taking teams.Read More...
Inventory control managers must possess strong organizational skills, as success in this position demands careful accounting of potentially large amounts of inventory and keeping updated records so that accurate counts may be made. In situations in which the inventory control manager oversees teams of auditors, the manager must be able to communicate effectively and make quick decisions when discrepancies arise. Inventory control managers must also have a grasp on computer operations, as most modern inventory-keeping tools are computerized devices. Inventory control managers often work in a retail or warehouse setting, so they are generally mobile for most of the day and may need to be able to lift heavy items.
Individuals with relevant experience, especially with inventory control background in a retail or warehouse environment, generally need an associate's degree. However, a bachelor's degree in business or management greatly may enhance job prospects. Prospective applicants may also consider pursing an inventory management certification program.
Inventory Control Manager Tasks
- Implement and execute an inventory replenishment system ensuring proper levels of stock.
- Act as a liaison between departments and buyers and determine obsolete stock while optimizing inventory turnover.
- Maintain accurate inventory counts throughout.
Common Career Paths for Inventory Control Manager
There are some Inventory Control Managers — though it's uncommon — that transition into Supply Chain Managers, where earnings are an average $82K annually. Many Inventory Control Managers go on to become Warehouse Managers or Inventory Managers despite the fact that median compensation in those roles is reportedly $7K lower and $7K lower, respectively.
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Popular Skills for Inventory Control Manager
Overall, survey participants reported applying a fair number of skills to their work. Most notably, skills in Data Analysis, Purchasing, People Management, and Microsoft Excel are correlated to pay that is above average. At the other end of the pay range are skills like Order Inventory and Cycle Count. Most people familiar with Inventory Control also know Microsoft Excel.
Pay by Experience Level for Inventory Control Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Although individuals who have less than five years' experience earn $41K on average, people with five to 10 years benefit from a notably larger average of $54K. On average, Inventory Control Managers make $56K following one to two decades on the job. Veterans who have surpassed the 20-year mark may make no more than those who are navigating the mid-career stage.
Pay Difference by Location
Inventory Control Managers will find that New York offers an impressive pay rate, one which exceeds the national average by 40 percent. Inventory Control Managers can also look forward to large paychecks in cities like Memphis (+38 percent), Dallas (+36 percent), Minneapolis (+26 percent), and Kansas City (+20 percent). In Houston, salaries are 16 percent below the national average and represent the lowest-paying market. Two other places where employers offer below-median salaries are Atlanta (15 percent less) and St. Louis (13 percent less).
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