Inventory Analyst

Description

 The Inventory Analyst is responsible for ensuring inventory accuracy, maintaining appropriate stock levels across all warehouse and branch locations, and supporting operational efficiency through data analysis, inventory controls, and warehouse optimization. This role oversees inventory planning, discrepancy resolution, cycle count programs, transfer order validation, annual physical inventories, and warehouse layout optimization to improve productivity and product availability.

Essential Duties and Responsibilities Inventory Planning & Control

• Establish and maintain minimum and maximum inventory levels for all warehouse and branch locations.
• Analyze inventory usage trends and consumption patterns to determine appropriate reorder points and safety stock levels.
• Monitor stock levels and recommend inventory adjustments to prevent shortages and excess inventory.
• Identify slow-moving, obsolete, and excess inventory and make recommendations for corrective action.

Inventory Accuracy

• Investigate and resolve all inventory discrepancies, including receiving, transfer, picking, shipping, and adjustment variances.
• Perform root cause analysis of inventory issues and implement corrective actions to prevent recurrence.
• Ensure inventory records accurately reflect physical inventory.

Cycle Counts & Physical Inventory

• Develop and execute weekly cycle count schedules.
• Perform and oversee cycle counts to ensure inventory accuracy.
• Analyze cycle count results and reconcile discrepancies.
• Coordinate and manage annual physical inventory counts across all locations.
• Prepare inventory variance reports and recommend process improvements.

Transfer Order Validation

• Review and validate transfer orders for accuracy prior to shipment.
• Verify quantities, product selections, and locations to reduce transfer errors.
• Monitor transfer activity and investigate discrepancies between sending and receiving locations.
• Work closely with warehouse and purchasing teams to ensure inventory movement accuracy.

Warehouse Optimization

• Analyze product movement and inventory turnover data.
• Redesign and maintain warehouse layouts utilizing best practices, positioning the fastest-moving products in the most accessible locations and slower-moving products in secondary locations.
• Continuously evaluate warehouse organization to improve picking efficiency, reduce travel time, and maximize productivity.
• Recommend space utilization improvements and inventory storage strategies.

Reporting & Analysis

• Generate inventory performance reports, including fill rates, inventory accuracy, stock-outs, turnover, and variance trends.
• Provide recommendations to leadership regarding inventory optimization opportunities.
• Track and report on key inventory metrics and operational performance indicators.

Collaboration

• Partner with Purchasing, Distribution, Warehouse Operations, and Leadership to ensure inventory objectives are achieved.
• Assist with implementation of inventory control policies and procedures.
• Support branch locations in maintaining inventory standards and compliance.

Requirements

 Qualifications

• Associate's or Bachelor's degree in Supply Chain Management, Business, Logistics, Operations Management, or related field preferred.
• Minimum 3 years of inventory control, warehouse operations, or supply chain experience.
• Strong analytical and problem-solving skills.
• Advanced proficiency in Excel and inventory management systems.
• Experience with cycle counting, physical inventories, and inventory reconciliation.
• Knowledge of warehouse operations, inventory forecasting, and replenishment strategies.
• Excellent organizational, communication, and time management skills.

Key Performance Indicators (KPIs)

• Inventory accuracy percentage.
• Cycle count completion and accuracy rates.
• Inventory discrepancy resolution time.
• Stock-out reduction.
• Transfer order accuracy.
• Annual inventory variance results.
• Warehouse picking efficiency improvements.
• Inventory turnover and fill-rate performance.