Inventory Analyst

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Job description

Inventory Analyst

The Inventory Analyst is responsible for maintaining optimal inventory levels by analyzing data, monitoring stock movements, forecasting demand, and ensuring efficient stock replenishment. The role involves working closely with supply chain teams, vendors, and other departments to align inventory management with business needs and objectives.

About the company and opportunity:

• Manufacturing company with over 20 years in the business
• Growth potential due to company expanding
• High visibility to tenured leadership team
• Collaborative and fun working environment
• Salary- $60,000-80,000

Key Responsibilities:

• Inventory Management:
• Monitor inventory levels across warehouses and retail locations.
• Ensure stock availability to meet customer demand without overstocking.
• Track inventory turnover rates and identify slow-moving or obsolete items.
• Establish safety stock levels and reorder points based on sales data and lead times.
• Data Analysis & Reporting:
• Analyze historical sales trends, seasonal factors, and market conditions to forecast inventory requirements.
• Generate and distribute inventory reports to internal stakeholders.
• Identify trends in inventory data to improve stock management and efficiency.
• Utilize inventory management software and ERP systems to maintain accurate data.
• Supply Chain Coordination:
• Collaborate with suppliers to ensure timely deliveries and manage lead times.
• Work with procurement teams to place orders, expedite deliveries, and negotiate terms when necessary.
• Partner with warehouse teams to optimize storage capacity and minimize costs.
• Demand Forecasting:
• Develop and maintain forecasting models to predict future inventory needs.
• Work with sales and marketing teams to account for promotions, new product launches, or discontinuations in demand forecasts.
• Continuous Improvement:
• Analyze and suggest improvements to current inventory processes.
• Implement best practices to optimize inventory control procedures and reduce waste.

Preferred qualifications for the Inventory Analyst:

• 2+ years of experience in inventory management, supply chain, or data analysis.

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