Inventory Analyst
Quick Facts
Median Salary$79,173
Most Common EducationBachelor's degree
Projected 10-Year Growth+29.69%
Assessment MatchTake the Assessment
What They Do
An Inventory Analyst tracks and processes orders and shipments, runs and interprets inventory reports, manages databases of inventory flow, stock and documentation. Develops new systems to optimize inventory turnover. Uses statistical models to predict inventory capacity.
Core Tasks:
- Maintain and develop positive business relationships with a customer's key personnel involved in, or directly relevant to, a logistics activity.
- Develop an understanding of customers' needs and take actions to ensure that such needs are met.
- Manage subcontractor activities, reviewing proposals, developing performance specifications, and serving as liaisons between subcontractors and organizations.
- Direct availability and allocation of materials, supplies, and finished products.
- Review logistics performance with customers against targets, benchmarks, and service agreements.
- Develop proposals that include documentation for estimates.
- Explain proposed solutions to customers, management, or other interested parties through written proposals and oral presentations.
- Redesign the movement of goods to maximize value and minimize costs.
- Perform managerial duties such as hiring and training employees and overseeing facility needs or requirements.
- Direct team activities, establishing task priorities, scheduling and tracking work assignments, providing guidance, and ensuring the availability of resources.
- Collaborate with other departments as necessary to meet customer requirements, to take advantage of sales opportunities or, in the case of shortages, to minimize negative impacts on a business.
- Report project plans, progress, and results.
- Protect and control proprietary materials.
- Stay informed of logistics technology advances and apply appropriate technology to improve logistics processes.
- Develop and implement technical project management tools, such as plans, schedules, and responsibility and compliance matrices.
- Provide project management services, including the provision and analysis of technical data.
- Manage the logistical aspects of product life cycles, including coordination or provisioning of samples, and the minimization of obsolescence.
- Perform system lifecycle cost analysis and develop component studies.
- Plan, organize, and execute logistics support activities, such as maintenance planning, repair analysis, and test equipment recommendations.
- Participate in the assessment and review of design alternatives and design change proposal impacts.
- Direct and support the compilation and analysis of technical source data necessary for product development.
- Support the development of training materials and technical manuals.
What to expect as an Inventory Analyst
1Earn a Bachelor's degree
55% of people achieve this level of education.
2Gain skills and experience
See Inventory Analyst related courses on Tallo
3Land a job
366 openings for Inventory Analysts
Career Progression
in United States (Nation)
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