Inventory Analyst

Avantik; Pine Brook (NJ); On-site; USD 65,000 - 75,000; Full time

Job summary

An established industry player is seeking an Inventory Analyst to join their dynamic team. In this role, you will be responsible for monitoring and optimizing inventory levels, analyzing data to forecast demand, and collaborating with various departments to enhance inventory management processes. This position offers the opportunity to work in a fast-paced environment, where your analytical skills and attention to detail will be crucial in driving efficiency and achieving key performance indicators. Join a company committed to exceeding customer expectations and delivering superior quality products and services.

Benefits

Medical Insurance (80% covered)

Dental Insurance

Vision Insurance

401(k) with match

Tuition Assistance

Competitive Compensation

Bonus Programs

Qualifications

• Strong organizational skills and attention to detail are essential.
• Ability to analyze complex data and generate actionable insights.

Responsibilities

• Monitor and optimize inventory levels for efficient supply chain operations.
• Collaborate with cross-functional teams to improve inventory management processes.

Skills

Statistical Analysis

Forecasting

Inventory Management

Analytical Skills

Problem-Solving

Attention to Detail

Time Management

Collaboration

Creative Thinking

Tools

Microsoft Office Suite

ERP Systems

Inventory Management Software

Excel

Job description

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This range is provided by Avantik. Your actual pay will be based on your skills and experience — talk with your recruiter to learn more.

Base pay range

$65,000.00/yr - $75,000.00/yr

Direct message the job poster from Avantik

Our mission is to exceed our customers' expectations as their most reliable, innovative, and trusted lab resource. We achieve this by partnering with customers to solve their most pressing day-to-day challenges and always holding ourselves to a higher standard of product quality, exceptional service, and unmatched support.

The Inventory Analyst will be responsible for monitoring and optimizing inventory levels to ensure efficient supply chain operations. This role involves analyzing inventory data, forecasting demand, implementing inventory control measures, and collaborating with cross-functional teams to improve inventory management processes. The Inventory Analyst will work with management to communicate ongoing projects and continuously review demand/inventory planning goals along with working to achieve KPI target goals.

Essential functions

• Maintain and forecast optimal stock levels in all warehouses.
• Work closely with Purchasing and Procurement to decide on forecast adjustments and re-order points.
• Analyze inventory levels across multiple locations and product categories to identify trends, patterns, and potential issues.
• Review service technician’s trunk stocks to ensure proper inventory is being optimized.
• Utilize statistical analysis and forecasting techniques to accurately predict future demand and optimize inventory replenishment.
• Set and maintain replenishment parameters for all locations.
• Collaborate with purchasing, production, and service teams to develop effective inventory strategies that align with business objectives.
• Review physical counts and perform root cause analysis for any discrepancies.
• Monitor inventory turnover rates, identify slow-moving or obsolete items, and propose strategies for mitigating excess inventory.
• Monitor expiring products and work with purchasing and sales teams to mitigate current and future write-offs.
• Generate and maintain inventory reports, including stock levels, days on hand, inventory turns, expiring products, sales forecasts, key performance indicators (KPIs), and provide regular updates to management.
• Recommend and implement improvements to inventory management processes, including inventory control policies, replenishment policies, and forecasting process.
• Strong organizational skills are a must along with attention to detail and excellent time management skills.
• Strong analytical and problem-solving skills, with the ability to interpret complex data and generate actionable insights.
• Must be proficient with Microsoft Office Suite
• Ability to work in a fast-paced environment and adapt to changing priorities.
• Ability to build relationships and collaborate both internally and externally and manage those relationships.
• Work well as part of a team as well as independently with minimal oversight and handle ambiguous situations/tasks.
• Creative thinker, able to think outside the box.
• Proficiency in ERP systems, inventory management software and intermediate Excel functions.
• Solid understanding of supply chain principles, including forecasting, demand planning, and inventory control.
• Continuous learning mindset to stay updated on industry trends and advancements in inventory management practices.

Avantik is an integrated medical products and services company delivering superior quality instruments, reagents, consumables, and service to the anatomic pathology market consisting of hospital, reference, and physician office laboratories in the US. The company is headquartered in Montville Township, NJ.

Avantik’s experienced team and consultative partner approach integrates consumables, service, equipment, and education so that labs focus on what matters most - having everything under control in their laboratory to deliver fast and accurate diagnoses. Avantik offers a full line of consumables and reagents for the histology lab sourced and private label Avantik branded and by distribution of other brands. Avantik has serviced all brands of OEM histology lab equipment for over 40 years and offers best-in-class responsiveness and an industry leading 97% first time fix-rate.

Avantik offers a team orientated, customer service focused environment with competitive compensation, bonus programs, medical (company covers 80% of the cost), dental and vision insurance, 401K (with a match) and more.

Learn more at www.avantik-us.com

Avantik is an Equal Opportunity Employer.

Seniority level

• Seniority level

  Associate

Employment type

• Employment type

  Full-time

Job function

• Job function

  Supply Chain

• Industries

  Medical Equipment Manufacturing and Hospitals and Health Care

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Inferred from the description for this job

Medical insurance

Vision insurance

401(k)

Tuition assistance

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