Inventory Analyst
On this page
- What's it like to be an Inventory Analyst?
- How to become an Inventory Analyst
- Latest Inventory Analyst jobs
- Top skills and experience for Inventory Analysts
What's it like to be an Inventory Analyst?
Inventory Analysts work in the purchasing department in manufacturing, retail, wholesale and distribution. They analyze the efficiency of a stock to determine whether more or less should be purchased. Inventory Analysts are mathematics professionals who calculate product demand versus supply over time, which keeps a company’s revenue sustainable. Using statistics, they present the well-performing and underperforming stocks to stakeholders, determining the financial strategy to reduce costs and increase revenue.
Tasks and duties
- Overseeing day-to-day inventory functions.
- Coordinating with warehouse workers for inventory placement and organization.
- Conducting statistical analysis on inventory performance.
- Determining root causes of inventory problems and providing solutions.
- Forecasting future sales and potential risks.
- Designing plans for smooth inventory flow.
- Writing and presenting reports.
How to become an Inventory Analyst
A bachelor degree and some industry experience are required to work as an Inventory Analyst. Knowledge of statistics and proficiency in spreadsheets may be an advantage.
Graduate with a bachelor degree in statistics, supply chain, accounting, or another related field.
Complete an internship in the purchasing or supply chain department of a recognized company.
Seek an entry-level job such as Inventory Assistant or Warehouse Inventory Associate.
Pursue promotion to higher positions such as Inventory Manager or Supply Chain Director.
Consider getting postgraduate education in logistics and supply chain management.
