Inventory Analyst

VAN MARCKE TRADE SUPPLY INC•Phoenix, AZ

5d•Onsite

About The Position

An Inventory Analyst plays a crucial role in managing and optimizing a company's inventory levels to ensure efficient operations and maximize profitability. This role involves analyzing inventory data, forecasting demand, and implementing strategies to minimize stockouts, overstocks, and associated costs to all 26 locations. The Inventory Analyst collaborates with various departments such as procurement, logistics, and sales to maintain an accurate and balanced inventory.

Requirements

Bachelor’s degree in supply chain management, Industrial Engineering, Business, Logistics, or a related field.
2–4 years of inventory analysis, supply chain, purchasing, or inventory management experience preferred.
Strong analytical, quantitative, and problem-solving skills.
Proficient in data analysis tools and software.
SAP experience or similar enterprise resource planning software.
Excellent communication and interpersonal skills.
Detail-oriented with the ability to multitask and prioritize.
Knowledge of inventory management principles and supply chain processes.

Responsibilities

Analyze historical sales data, current inventory levels, and market trends to make informed decisions regarding inventory management.
Develop and utilize statistical models and forecasting techniques to predict future demand and determine optimal stock levels.
Review inventory statistics and trends to identify opportunities for inventory optimization.
Analyze inventory discrepancies and recommend corrective actions.
Develop and maintain inventory planning models to ensure adequate stock levels to meet customer demand while minimizing excess inventory.
Collaborate with the procurement team to ensure timely and accurate procurement of goods to support inventory needs.
Ensure sufficient inventory levels are maintained to meet customer demand while minimizing excess inventory.
Regularly monitor inventory levels, inventory turnover, service levels, and product lifecycles.
Generate reports analyzing inventory performance, inventory costs, stock discrepancies, and purchasing trends.
Collaborate with sales and marketing teams to understand market trends, promotions, and product launches that may impact demand.
Adjust inventory plans accordingly to meet anticipated demand fluctuations.
Analyze actual product demand, historical sales, seasonal trends, and market forecasts to adjust inventory planning accordingly.
Implement strategies to optimize inventory turnover, reduce carrying costs, and minimize obsolete stock.
Review slow-moving inventory and recommend strategies for liquidation or redistribution.
Identify opportunities for process improvement within the inventory management system.
Implement best practices and efficiency enhancements to streamline inventory-related processes.
Work closely with cross-functional teams, including logistics, finance, and sales, to ensure alignment on inventory goals and strategies.
Monitor and address potential risks related to supply chain disruptions, changes in market conditions, or other factors that may impact inventory availability.
Maintain accurate records of inventory transactions and ensure compliance with relevant regulations and company policies.