Inventory Control Specialist

Job Description

Job Description

Job Description

What we offer:

At Magna, you can expect an engaging and dynamic environment where you can help to develop industry-leading automotive technologies. We invest in our employees, providing them with the support and resources they need to succeed. As a member of our global team, you can expect exciting, varied responsibilities as well as a wide range of development prospects. Because we believe that your career path should be as unique as you are.

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What we offer:

At Magna, you can expect an engaging and dynamic environment where you can help to develop industry-leading automotive technologies. We invest in our employees, providing them with the support and resources they need to succeed. As a member of our global team, you can expect exciting, varied responsibilities as well as a wide range of development prospects. Because we believe that your career path should be as unique as you are.

Group Summary:

Transforming mobility. Making automotive technology that is smarter, cleaner, safer and lighter. That's what we're passionate about at Magna Electronics, and we do it by creating world-class Electronic systems. We are a premier supplier for the global automotive industry with full capabilities in design, development, testing and manufacturing of complex Electronic systems. Our name stands for quality, environmental consciousness, and safety. Innovation is what drives us and we drive innovation. Dream big and create the future of mobility at Magna Electronics.

Job Responsibilities:

Role Summary

The Inventory Control Specialist is responsible for managing material and finished goods inventories to ensure optimal levels that align with the company's operational and financial goals. This role oversees inventory planning and forecasting, ensures inventory accuracy, analyzes and mitigates inventory risks, and drives continuous improvement initiatives to optimize costs and enhance business performance.

Key Responsibilities

• Collaborate with Finance to forecast inventory levels and turnover rates, ensuring alignment with financial targets.
• Develop, implement, and maintain inventory control procedures to achieve divisional inventory and turnover goals.
• Monitor and ensure the accuracy of material and finished goods inventory records.
• Analyze and manage risk inventory categories (slow-moving, aged, last-time-buy, LTSA, obsolescence, customer-specific safety stock, and bank builds) to align them with forecasted requirements.
• Manage safety stock strategy, including forecasting, planning, monitoring, and adjustment, in collaboration with material planners, finished goods planners, and the SIOP Manager.
• Partner with planning teams to identify and resolve inventory risks effectively.
• Partner with material planners and 3rd-party consignment warehouse team to manage aging and pull-in of consignment warehouse material inventory, ensure correct consignment material age level and timely disposition.
• Develop and maintain data tracking, analysis, and reporting systems to support inventory control initiatives.
• Identify and address inventory discrepancies through continuous data monitoring, root cause analysis, and corrective action planning.
• Lead regular cycle count programs in coordination with warehouse and planning teams to ensure accurate inventory records.
• Manage semi-annual plant-wide physical inventories, perform variance analyses, and drive timely resolution of discrepancies.
• Support continuous improvement by reviewing and enhancing inventory processes to strengthen accuracy, forecasting performance, and turnover efficiency.

Key Qualifications/Requirements

Education

• Bachelor's degree in Business, Engineering, Supply Chain Management, Logistics, or a related field; a college diploma will also be considered.
• APICS certifications (CPIM, CSCP, or CLTD) are considered an asset.

Experience

• Minimum of three years of experience in manufacturing, material planning, or logistics.
• Strong analytical and problem-solving skills with attention to detail.
• Proficiency in Microsoft Office applications (Excel, Word, PowerPoint).
• Experience with MRP/ERP systems (SAP preferred).
• Experience using data visualization or analytics tools such as Power BI.
• Strong organizational and communication skills, with the ability to work cross-functionally.
• Ability to work under pressure and meet job objectives in a fast-paced environment.
• Previous experience in the automotive manufacturing industry is an asset.

Salary Range: $67,645 - 73,703

Awareness, Unity, Empowerment:

At Magna, we believe that a diverse workforce is critical to our success. That's why we are proud to be an equal opportunity employer. We hire on the basis of experience and qualifications, and in consideration of job requirements, regardless of, in particular, color, ancestry, religion, gender, origin, sexual orientation, age, citizenship, marital status, disability or gender identity. Magna takes the privacy of your personal information seriously. We discourage you from sending applications via email or traditional mail to comply with GDPR requirements and your local Data Privacy Law.

Worker Type:

Regular / Permanent

Group:

Magna Electronics