Sr. Demand Planning and Inventory Manager

Job Description

Who We Are:

The Vitality Institute core mission is to help people of all skin types restore their confidence so they can reach their true potential. At the center of the globally recognized Vitality Institute is Marya Khalil, company CEO. As a teenager, Marya struggled with severe cystic acne. Fortunately, her father Dr. Abdala Khalil possessed the medical knowledge required to help her. With Marya as patient zero, the two worked together to formulate a safe and painless remedy for her acne. And in 2001, the professional VI Peel treatment was launched. Then, in March 2020, VI Derm Skincare line became available to help fight pigment, acne and scarring via an at-home regime.

Demand Planning and Inventory Manager

Overview: We are seeking an experienced Demand Planning and Inventory Manager who understands that effective demand planning is not just about managing inventory but optimizing every facet of production, resource allocation, and ensuring product availability aligns with customer expectations. This role is central to our mission of minimizing inventory carrying costs and avoiding stockouts, ultimately safeguarding our bottom line.

Role Significance: Demand planning stands at the core of successful inventory management. By accurately forecasting inventory demand, you will be instrumental in guiding our business decisions, ensuring we maintain the right inventory levels while reducing the risks associated with overstock and stock shortages. Your expertise will improve customer satisfaction, enhance sales, and prevent resource wastage, directly contributing to our profitability.

Key Responsibilities:

Demand Planning and Forecasting

Forecast Accuracy: Utilize historical sales data, market trends, and consumer behavior analysis to improve the accuracy of product demand forecasts.

SKU Management: Oversee the forecasting process for a diverse range of SKUs, adjusting for seasonal variations and market dynamics.

Collaborative Planning: Work closely with sales, marketing, and operations teams to integrate promotional plans and strategic initiatives into demand forecasts.

Method Selection: Apply the most effective forecasting methods (e.g., moving averages, exponential smoothing, trend projection) tailored to each product category.

Demand Sensing: Quickly adapt to short-term market changes by incorporating real-time sales and market feedback into demand planning.

Budget: Adhere to budget set by Finance. Recommend changes based on identified changes in forecast and trends

Inventory Optimization

Optimal Stock Levels: Determine the right quantity of stock for each product, balancing the need to meet demand with the goal of minimizing carrying costs.

Safety Stock Strategy: Calculate and maintain safety stock levels to protect against supply chain disruptions and demand variability.

Inventory Health Monitoring: Regularly review inventory turnover rates and shelf-life to ensure inventory remains healthy and minimize obsolescence.

Replenishment Planning: Use demand forecasts to schedule timely replenishment, avoiding stockouts and overstock situations.

Work Orders: Direct the planning of inhouse assemblies including identify SKU, lot numbers, quantity to assemble, headcount needed to perform task and calendar assembly

Quality Control: Implement strict quality control measures for incoming inventory to maintain product standards and customer satisfaction.

Advanced Analytics

Data-Driven Insights: Leverage advanced analytics to extract actionable insights from inventory and sales data, identifying opportunities for optimization.

Predictive Modeling: Employ statistical models and machine learning algorithms to predict future demand patterns and inventory needs.

Performance Tracking: Develop dashboards and reports that track key performance indicators (KPIs) related to inventory management and forecast accuracy.

Risk Analysis: Analyze supply chain vulnerabilities and perform scenario planning to prepare for potential disruptions.

Process Automation: Utilize technology to automate repetitive tasks in the demand planning and inventory management processes, increasing efficiency and accuracy.

Inventory Management

Create item in system including all attributes: length, width, height, (metric & royal) weight (metric & royal), packaging specs (inner, master, pallet), ti-hi

Drive cycle counts and annual physical inventory at Fulfillment Center and Contract Manufacturers

Drive preparation of new product launch

Drive sunset of inventory that is discontinued or obsolete

Monitor inventory expiration dates and make necessary recommendations

Leadership & Management

Work collaboratively with Sourcing Manager to manage all aspects associated to inventory management

Work collaboratively with Fulfillment Center Manager on various aspects related to inventory control, kitting, assembly, demand, special orders, projects

Create and foster a synergic environment with Marketing and Product Development to collaboratively support the development of products from 'idea to ready to ship'

Effective project manager who can multitask various events and successfully complete within prescribed time

Support B2B and D2C operations to ensure reporting and communication to fulfillment center is agile and consistent

Create and update SOPs and training material for various processes and assemblies

Support Director of Operations on various projects related to inventory, processes, systems, technology and solutions that will help the Vitality brand remain long term viable and sustainable

Support CEO and executive team on all efforts to drive the business towards established goals

Knowledge, Experience, Credentials

3 to 5 years of demand planning, forecasting and budgeting

3 to 5 years of relevant project management experience

Experienced in NetSuite using all functions relevant to position as well as using various data mining features

Must know Excel at highly analytical levels: pivot tables, v lookups, logical expressions that help mine data to obtain information that helps make sound business decisions

In depth understanding of item structure, master date, assembly bill of materials, item parent/child relations

Excellent project management and organization skills

Strong communication; verbal, written and presentation skills

Deep attention to detail

Strategic thinker

Thrives in an entrepreneurial, start up environment that is fast paced and rapid changing

Bachelors degree in Supply Chain, Business Administration or Finance

Pay Range

$100,000—$105,000 USD

Perks & Benefits:

Medical –100% coverage for full-time employees and 25% toward dependents coverage

Dental - 100% for full-time employees and 25% toward dependents coverage

Vision -100% of the premium for full-time employees and 25% toward dependents coverage

EAP plan

Basic Life - $50,000 life insurance

Paid Parental Leave

401(K) – Option to enroll in a pre-tax savings retirement plan

Holidays – 13 paid holidays

Employee Discounts on All VI Derm

Free VI Peels in the Research Center

Twice a year Product Gifting

Quarterly "Self-Care Days"*

Hybrid Schedule Available: Office minimum 3 or 4 x per week (Fridays are always WFH)*

*HQ