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Sr. Field Inventory Specialist

Date:  Nov 23, 2022
Req ID:  912
Location: 

Somerset, NJ, US

Company:  Terumo Medical Corporation
Department:  Field Inventory & Inventory Control

Terumo Medical Corporation (TMC) develops, manufactures, and markets a complete, solutions-based portfolio of high-quality medical devices used in a broad range of applications for numerous areas of the healthcare industry. TMC places a premium on providing customers with world-class products, training and education programs that drive clear economic value, better clinical outcomes and improved quality of life for patients. TMC is part of Tokyo-based Terumo Corporation; one of the world’s leading medical device manufacturers with $5+ billion in sales, 20,000+ employees worldwide and operations in more than 160 nations. Terumo Medical Corporation is comprised of two strategic business divisions: Terumo Interventional Systems and Terumo Medical Products.

Job Summary

Assist in the management and control of inventory through various sales and distribution channels, including Field Inventory based modes (Loaners, Consignment, Trunk Stock).  Ensure effective utilization of assets and compliance with terms of agreements as well as compliance with policies and procedures.  Analyze product turnover to determine optimal stock rotation to reduce losses from expiry and maximize ROI.  Review operational processes and data to identify opportunities for improvement.

 

Job Details/Responsibilities

      Manage and monitor Loaner Inventory throughout the deployment and returns cycle ensuring accuracy and high end-user customer service levels.
      Provide oversight and guidance for effective inventory management and deployment across multiple channels and locations, including coordination of just-in-time movement among multiple field-based locations in potentially off hours, on-call situations.
      Coordinate and perform cycle count and auditing programs for consigned and representative based inventories as well as administrate cycle counting for multiple distribution centers.  Collaborate with Distribution or Territory Managers and Finance to investigate and reconcile variances and document results.
     Ensure integrity of inventory systems through monitoring and reconciliation of inventory related transactions over multiple distribution channels both inbound and outbound.
      Collaborate with Distribution and Territory Managers to ensure consignment and inventory policies and controls are enforced.  Resolve issues related to lost, damaged, or expired inventory.
      Assist with the control of inventory covered by consignment agreements and inventory polices to ensure compliance as well as effective utilization and tracking of Company assets.  
     Follow all requirements of TMC Quality System; including but not limited to requirements for traceability of product, recognizing customer complaints and the requirement to forward information to Quality Assurance
    Participate to provide ideas, methods, or processes for improvement by unit/company performance.        

 

Job Responsibilities (continued)

    Manage and analyze inventory utilization and recommend par levels for existing and potential new inventory locations.
    Lead strategic analyses and inventory reporting to support business unit and corporate objectives.
    Provide data analysis for production planning and volume studies.
    Develop, analyze, interpret and act upon short, medium- and long-term forecast models.
    Provide guidance and training on policies and procedures, both initial and continuous, to internal and external parties responsible for carrying and transacting inventory.
    Participate in continuous improvement projects.
    Develop relevant inventory performance metrics and measures and prepares detailed month-end reports for management.
    Participate in offsite physical inventory counts and reconciliations.
    Organize and handle a variety of logistics issues in manufacturing/contract manufacturing environment.
    Additional responsibilities include but are not limited to supply chain services, inventory control, critical parts availability, material handling, import-export licensing, shipment of products, and third-party warehousing, general accounting projects.
    Demonstrate a commitment to patient safety and product quality by maintaining compliance with all TMC Quality Systems requirements. This includes but is not limited to the prompt recognition and forwarding of customer complaints (i.e. adverse events, product performance reports, etc.) to Quality Assurance (QA), and by ensuring all promotional messaging (i.e. branding strategies, product claims, etc.) and materials (i.e. literature) discussed or presented to customers are clinically accurate and adhere to AdvaMed guidelines and Terumos policy on Interactions with Healthcare Professionals


 
 

Knowledge, Skills and Abilities (KSA)

    Understanding of the inventory control, supply chain and logistics environment.  
    Ability to coordinate and manage loaner inventory, just-in-time inventory, and accurate inventory redistribution amongst multiple Field based inventory locations.
    Understanding of and ability to manage multiple field-based inventory channels (long- and short-term consignment, loaners, representative based also known as trunk stock) and associated processes.
    Strong analytical aptitude with the proven ability to analyze and interpret data.
    Self-starter and a quick learner; able to adapt and excel in a fluid environment with minimal supervision.  
    Exceptional written and verbal communication skills and a natural inclination towards process improvement are imperative.  
    Demonstrated creative thinking skills with emphasis on developing innovative solutions to complex problems.  Must be able to identify and resolve problems with focus on prevention.   
    Must be able to handle a high volume of work in a fast-paced environment while performing work accurately under time constraints. 
    Must be able to work in a team environment. 
    Proficient working with Microsoft Office Professional (Excel, Word & PowerPoint).  

 

Qualifications/ Background Experiences

  • Bachelors degree in a Supply Chain or Finance required with a minimum of 3 years of experience in inventory control, inventory management, loaner bank, customer care or supply chain functions, or equivalent combination of education, training and experience.
  • Experience with ERP systems, logistical systems and standard operating procedures are required.
  • Strong previous experience in coordinating and managing loaner inventory, just-in-time inventory, and accurate inventory redistribution amongst multiple Field based inventory locations in the med device or pharmaceutical space strongly preferred.
  • Experience with multiple field-based inventory channels (long- and short-term consignment, loaners, representative based also known as trunk stock) and associated processes in the medical device or pharmaceutical space strongly preferred.
  • Experience with SAP is strongly preferred.

It is Terumo’s policy to provide equal employment opportunity to all its employees and applicants for employment regardless of their race, creed, color, national origin, age, ancestry, nationality, marital or domestic partnership or civil union status, sex, pregnancy, gender identity or expression, disability status, liability for military service, protected veteran status, sexual orientation, atypical cellular or blood trait, genetic information (including the refusal to submit to genetic testing), or any other category protected by law. As a Company, we value diversity of background and opinion, and prohibit discrimination or harassment on the basis of any legally protected class in the areas of hiring, recruitment, promotion, transfer, demotion, training, compensation, pay, fringe benefits, layoff, termination or any other terms and conditions of employment.


Nearest Major Market: New Jersey