The Inventory Analyst is responsible for overseeing and evaluating inventory levels, tracking stock movements, ensuring inventory accuracy, and generating reports to support effective inventory management. The position focuses on maintaining sufficient stock availability, identifying and resolving inventory variances, and recommending enhancements to inventory control processes and procedures.
Key Responsibilities
- Monitor and assess inventory levels, stock movements, and turnover rates to ensure efficient stock management.
- Generate and analyze daily, weekly, and monthly inventory reports to provide insights into inventory performance.
- Perform inventory reconciliations by comparing physical stock counts with system records and investigating any discrepancies.
- Evaluate inventory conditions to identify fast-moving, slow-moving, excess, and obsolete stocks.
- Collaborate with Warehouse, Purchasing, Operations, and Finance departments to ensure the accuracy and consistency of inventory records.
- Review inventory trends and provide recommendations for appropriate stock replenishment and inventory allocation.
- Support regular cycle counting activities and physical inventory audits to maintain stock accuracy.
- Ensure accurate documentation and timely recording of all inventory-related transactions.
- Track stock aging, inventory variances, and potential losses to minimize inventory risks.
- Identify opportunities to streamline inventory monitoring systems and strengthen inventory control procedures.
- Maintain compliance with company inventory standards, policies, and operational guidelines.
Qualifications and Requirements
- Bachelor's degree in Accountancy, Finance, Supply Chain Management, Industrial Engineering, Business Administration, or a related field.
- At least 1-2 years of experience in inventory analysis, inventory control, warehouse operations, or a related role is preferred.
- Proficient in Microsoft Excel and inventory management systems.
- Strong analytical, numerical, and problem-solving skills.
- Excellent attention to detail and accuracy in handling inventory data.
- Ability to prepare reports, interpret data, and identify inventory trends.
- Good communication and coordination skills.
- Knowledge of inventory reconciliation, stock monitoring, and inventory control procedures is an advantage.