Inventory Analyst

Job Description

Job Description

An inventory analyst monitors and analyzes inventory to maintain optimal stock levels, preventing stockouts and overstocking by forecasting future demand, managing inventory data in software, and collaborating with procurement and logistics teams. Key duties include data analysis, trend identification, order fulfillment, reconciliation of physical counts, and the development of strategies to improve supply chain efficiency and reduce costs.

Key Responsibilities

• Demand Forecasting :

Analyze sales trends and historical data to forecast future inventory needs.

Ensure optimal stock levels to balance supply and demand, reducing the risk of stockouts and overstocking.

Monitor inventory data and use inventory management software to track metrics and identify trends.

Develop and implement strategies for inventory replenishment, including placing orders with suppliers.

Collaborate with procurement, sales, and logistics departments to ensure efficient operations.

Conduct regular inventory audits and reconcile physical counts with system records.

Prepare and present inventory reports and analyses to management.

Identify opportunities to reduce holding costs and minimize inefficiencies in the supply chain.

Recommend and implement improvements to inventory management processes

Essential Skills