Position Summary
Inventory Analyst position plays a critical role in managing a company's inventory levels, ensuring that stock quantities meet demand while minimizing overstock or stockouts.
Essential Duties and Responsibilities
Inventory Monitoring and Management:
- Track and manage inventory levels, ensuring optimal stock levels are maintained.
- Analyze data to forecast future inventory needs based on sales trends, seasonality, and market conditions.
- Identify discrepancies between physical inventory and system records, and resolve issues.
Inventory Reporting:
- Prepare detailed reports on inventory metrics, including stock turnover rates, reorder points, and stock levels.
- Generate insights and recommend inventory optimization strategies to minimize costs while meeting customer demand.
Demand Forecasting:
- Utilize historical data and sales forecasts to predict future inventory requirements.
- Work with sales, procurement, and operations teams to develop demand plans.
Work with Supply Chain Department:
- Work with procurement, warehouse, and logistics teams to ensure smooth inventory flow.
Data Analysis and Optimization:
- Use data analytics tools to track key inventory performance indicators (KPIs).
- Analyze slow-moving inventory, obsolete stock, and optimize stock levels accordingly.
- Implement and maintain inventory management on ERP systems to streamline processes.
- Knowledge, Skills, and AbilitiesInventory control and demand forecasting
- Data analysis and reporting
- Knowledge of supply chain and inventory management software
- Excellent attention to detail and ability to work with large data sets.
- Education & ExperienceBachelor's degree in supply chain management, logistics, business, or a related field.
- Strong analytical skills and experience with inventory management software (e.g., SAGE, SAP, Macola, etc).
- Proficiency in data analysis tools such as Excel, SQL, or similar
