Inventory Analyst Job Description

Inventory Analyst Job Description

July 17th, 2020

Inventory Analysts work in the retail, wholesale, distribution, and manufacturing sectors to help the organization's management with purchasing inventory, allocating resources, and forecasting future sales. Also known as Purchasing Managers, Inventory Analysts maximize an organization's production.

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Inventory Analyst Job Description Template

We are looking for an analytical, skilled individual to join our team as an Inventory Analyst. The responsibilities of the Inventory Analyst include managing inventory items, controlling day-to-day inventory operations, and implementing inventory control protocols.

To be successful as an Inventory Analyst, you should be analytical with a strong attention to detail. Ultimately, a top-notch Inventory Analyst should possess acute commercial awareness and should be able to interpret and implement data on consumer trends and spending.

Inventory Analyst Responsibilities:

  • Maintaining and improving the company's inventory situation by analyzing inventory statistics to determine which products are selling and which are not.
  • Placing inventory orders and tracking shipments.
  • Allocating inventory to the correct departments as it comes into the warehouse and arranging for pickups and shipments.
  • Performing extensive research on a wide range of inventory-related reports, from previous inventory reports to national purchasing trends.
  • Directing buyers and stockroom workers.
  • Performing regular inventory counts.
  • Drafting inventory reports that document inventory counts, discrepancies, and other statistical data.
  • Reporting inventory statistics to management and suggesting improvements to inventory control.
  • Coordinating with other workers to resolve discrepancies between inventory and revenue.
  • Creating and maintaining inventory databases and systems for accurately managing inventory.

Inventory Analyst Requirements:

  • Bachelor's degree in Supply Chain Management, Business Administration, Marketing, or a related field.
  • Excellent communication and organizational skills.
  • Experience with databases and spreadsheets.
  • Good computer skills.
  • Strong analytical, time management, and problem-solving skills.
  • Excellent attention to detail, maths, and multi-tasking skills.

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