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.
Job Description
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.
Requirements:
Bachelor'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).
Excellent attention to detail and ability to work with large data sets.
Proficiency in data analysis tools such as Excel, SQL, or similar.
Key Skills:
Inventory control and demand forecasting
Data analysis and reporting
Knowledge of supply chain and inventory management software