Hire the best Inventory Managers

Top 6 Inventory Managers Hired This Month

  • lazarjaric's Profile Picture
    lazarjaric
    Freelancer in Belgrade, Serbia
    29 Reviews

    Studied in Cape Breton University, bachelor BA - Finance. Worked in famous Serbian FMCG named Bambi Ad. for 5 years as financial controller. Excellent in excell, data processing and analysis. Created many business plans, wrote academic and financial/business articles.

    Hire Me
  • pwcnarender's Profile Picture
    pwcnarender
    Freelancer in panchkula, India
    2 Reviews

    Academic services We are a research based organization working in the field of Academic assistance. We help teachers and Students in their academic affairs. These are some of academic services we offer 1. Notes and lecture preparation 2. Assignments 3. Dissertation 4. Virtual assistant to teacher 5. Reports a ...

    Hire Me
  • sdk2788's Profile Picture
    sdk2788
    Inventory Management Contractor
    2140 Reviews

    Worked with several clients in making better inventory system. Provided quantitative and analytical research by using various system and analyzing data by data mining and etc.

    Hire Me
  • zhj11651's Profile Picture
    zhj11651
    Inventory Management Professional
    1686 Reviews

    Inventory Planning Leader with experience in various industries such as food, technology and clothing. Provided new systems to these companies to achieve profitability.

    Hire Me
  • rinsadsl's Profile Picture
    rinsadsl
    Freelancer in Puttalam, Sri Lanka
    1067 Reviews

    We are a Software and Web Development company specialized in PHP, .NET and Java technologies. One of our key strengths is our expertise with eBay and Amazon API integrations. We have done large varities of projects in these domains

    Hire Me
  • devikagupta's Profile Picture
    devikagupta
    Inventory Management Services
    560 Reviews

    Formulated and done strategic financial plans cross-functionally that exceeds the needs. One client experienced 54% growth in sales. Gives inventory supply chain solution.

    Hire Me

Finding Inventory Managers on Freelancer

If your business carries stock, it is extremely likely that you are familiar with the concept of inventory management. It is a scientific method used to oversee and control all aspects of stock control including ordering, storage and the factors relating to production and quantities required for sale.

The inventory of a business is one of its main resources and is instrumental in controlling cash-flow and hostage cash, so it’s imperative that the processes are carried out correctly and accurately.

The key elements of inventory management are as follows:

  • Maintaining enough stock – your stock should be maintained at a reasonable enough level to provide your customers with the products that they need while not spending too long in storage. This will involve an element of prediction based on previous year’s sales or if you’re a startup, guidance from an expert. Stock maintenance must factor in stock ordering time spans as well as materials required.
  • Avoiding excess stock – excess stock is effectively redundant cash. It costs money to store inventory so if you have too much your overheads increase. Personal property tax can also be added onto unsold stock which is another cost you can effectively avoid. The excess inventory also takes the place of popular stock items which means you will have to reduce those popular lines due to lack of storage space.
  • Cash-flow -  effective cash-flow is key in any small business and binding cash up in stock is a critical error that should be avoided at all costs. If you have excess stock, the natural reaction is to reduce its price to sell it and make room for new inventory, however, this reduces the return on investment and thus reduces your profit.
  • Tracking inventory – a successful inventory tracking system can advise you on your stock levels, current order status, and sales history.

Here are some key components involved in structuring a successful Inventory Management System:

  • Barcodes – items with barcodes can be traced as they’re coming into the warehouse and tracked as they’re going out. This allows for automatic reporting on when stock needs to be replaced or if too much stock is being held.
  • Software – Inventory software can provide accurate data and scientific information based on actual and predicted sales. It can offer solutions based on current trends.
  • Portable data terminals – portable data terminals can be carried in the hand and have the ability to read barcodes. This will help to identify when the stock is leaving a warehouse or storage facility without the use of a computerized till.

While manual stock control is an option, it is limited in its potential. Counting manual items provides room for error and calculations are not specific. A scientific inventory management system can calculate the ideal stock ordering and holding facility for your organization to ensure that cash spent on holding the stock is kept to a minimum and can be spent where it is better directed, towards operations.

If you are looking to implement an inventory management system, engaging with an IMS professional found on Freelancer.com will offer you a positive outcome. They will be able to implement processes and strategies to ensure that your inventory levels are maintained at just the right level to increase your profit and reduce overheads caused by holding too much stock.