Inventory Analyst
8 hours ago
The Inventory Analyst is responsible for monitoring and managing inventory levels to ensure optimal stock levels across various locations. This role requires a keen attention to detail, strong analytical skills, and a deep understanding of inventory management systems and processes. The Inventory Analyst will work closely with purchasing, logistics, and operations teams to forecast demand, analyze inventory trends, and recommend improvements to enhance supply chain efficiency and reduce costs.
Key Responsibilities:
- Inventory Management: Monitor stock levels and ensure optimal inventory is maintained to meet customer demand without overstocking or understocking.
- Demand Forecasting: Analyze historical data, market trends, and sales forecasts to predict future inventory needs and recommend stock replenishments.
- Stock Auditing: Conduct regular physical stock audits to reconcile inventory discrepancies between physical counts and system records.
- Data Analysis & Reporting: Create detailed reports on inventory levels, stock movement, slow-moving or obsolete inventory, and other key metrics. Present insights and actionable recommendations to management.
- Supply Chain Coordination: Collaborate with procurement, logistics, and sales teams to ensure timely delivery and availability of products.
- Inventory Optimization: Develop and implement strategies to improve inventory turnover, minimize waste, and reduce holding costs.
- System Management: Maintain inventory databases and systems, ensuring data accuracy. Assist in the implementation of new inventory management software or systems.
- Supplier Management: Liaise with suppliers to track orders, shipments, and lead times, ensuring stock arrives on time and in full.
- Cycle Counting: Oversee the cycle counting process to maintain accurate inventory records and reduce discrepancies.
- Continuous Improvement: Identify areas for process improvements within the supply chain and inventory management operations and suggest cost-saving measures.
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