Director of Purchasing & Inventory

Job Description

Job Description

Job Title: Director of Purchasing & Inventory Reports To: Chief Operating OfficeFLSA Classification: Exempt Job Purpose Owns TF Group/Threaded Fasteners Inc's purchasing and inventory strategy, balancing inventory investment against customer service. Sets the company-wide standards for what we buy, how much we carry, and how we manage suppliers. Key Business Outcomes: Company-wide inventory strategies are established and maintained, with target inventory levels, inventory turns, and plans to reduce excess and obsolete inventory consistently supporting business objectives.Purchasing expenditures are planned and controlled through an annual purchasing budget and strategic supplier spending plans.Purchasing standards and inventory practices are consistently applied across the organization while supporting the operational needs of each business unit.Supplier performance is measured through a structured vendor management program that includes approved suppliers, supplier scorecards, forecasting, and continuous improvement initiatives.Lost sales resulting from inventory availability issues are identified, measured, and used to improve stocking strategies and customer service levels.Inventory and supplier performance metrics are established, monitored, and regularly reviewed to drive continuous improvement and informed decision-making.Purchasing and inventory management processes operate consistently and efficiently through a capable, knowledgeable, and continuously developing purchasing team. Job Results & Accountabilities:Develops and executes the Company's purchasing and inventory strategy.Provides leadership for the central purchasing team by establishing priorities, developing talent, and ensuring consistent purchasing practices across the organization.Creates and maintains Company purchasing guidelines, approval authorities, and inventory management standards.Develops and maintains inventory planning strategies, including target inventory levels, replenishment methods, and inventory control policies.Develops and manages the Company's annual purchasing budget, including strategic vendor spending plans for key suppliers.Builds and maintains strategic supplier relationships through supplier reviews, forecasting, and continuous improvement initiatives.Establishes and maintains supplier management processes, including approved supplier programs, supplier scorecards, and performance monitoring.Develops and maintains the Company's lost sales reporting process and uses the information to improve inventory availability and purchasing decisions.Establishes, tracks, analyzes, and reports key inventory and supplier performance metrics to support operational and financial objectives.Partners with Finance, Operations, Manufacturing, and Sales to ensure purchasing strategies support the Company's operational and financial goals. Division of Ownership:The Director of Purchasing & Inventory develops and maintains the Company's purchasing standards, inventory policies, purchasing guidelines, and supplier management processes. Business unit leaders are responsible for executing within these standards and remain accountable for the financial performance of their operations. Performance Measurement:Performance is measured by improvements in inventory turns, fill rates, inventory accuracy, working capital utilization, supplier performance, budget adherence, and customer service. Success is demonstrated by balancing inventory investment with product availability while continuously improving operational and financial performance. Job Impact:Inventory is one of the Company's largest investments in working capital. This role helps maximize the value of that investment by developing sound purchasing strategies, strengthening supplier relationships, improving inventory performance, and supporting the long-term success of our employee-owned company. Education and Experience Required:Bachelor's degree in business or related field is a plus.Minimum of five years' experience in Purchasing and Inventory Control.  Preferred Education, Experience, and Skills:P21 software experience a plus.Previous Fastener Industry Experience.Strong computer skills, including proficiency in Microsoft Office Suite, Google Docs, and data entry.Exceptional organizational and time management skills with a keen eye for detail.Excellent written and verbal communication skills.Strong problem-solving skills and a proactive approach to tasks. Physical Requirements: Qualified applicants must be able to perform the following physical job requirements, with or without reasonable accommodation:Both office and warehouse work environmentsAbility to communicate and exchange informationAbility to comprehend and interpret documents and data Travel: Some travel required. Other Duties: Please note this job description is not designed to cover or contain a comprehensive list of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.