Job Role Description

Warehouse and LID > Inventory Analyst

Salary National Average

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45920.0000 62980.0000 70420.0000

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Short Description:

An Inventory Analyst monitors and manages inventory levels to ensure optimal stock availability and efficient operations. They analyze sales data, forecast demand, and collaborate with suppliers to maintain appropriate inventory levels. This role involves identifying trends, minimizing overstock or shortages, and implementing strategies to reduce costs and improve supply chain efficiency. The Inventory Analyst plays a key role in supporting business goals by ensuring the right products are available at the right time.

Duties / Responsibilities:

  • Examine documents, materials, or products and monitor work processes to assess completeness, accuracy, and conformance to standards and specifications.
  • Review documents, such as production schedules, work orders, or staffing tables, to determine personnel or material requirements or priorities.
  • Confer with department supervisors or other personnel to assess progress and discuss needed changes.
  • Revise production schedules when required due to design changes, labor or material shortages, backlogs, or other interruptions, collaborating with management, marketing, sales, production, or engineering.
  • Confer with establishment personnel, vendors, or customers to coordinate production or shipping activities and to resolve complaints or eliminate delays.
  • Record production data, including volume, the amount produced, consumption of raw materials, or quality control measures.
  • Requisition and maintain inventories of materials or supplies necessary to meet production demands.
  • Calculate figures, such as required labor or materials, manufacturing costs, or wages, using pricing schedules, adding machines, calculators, or computers.
  • Distribute production schedules or work orders to departments.
  • Compile information, such as production rates and progress, materials inventories, materials used, or customer information, for status reports.

Skills / Requirements / Qualifications

  • Reading Comprehension: Understanding written sentences and paragraphs in work-related documents.
  • Active Listening: Giving full attention to what other people are saying, taking time to understand the points made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
  • Speaking: Talking to others to convey information effectively.
  • Time Management: Managing one's own time and the time of others.
  • Coordination: Adjusting actions concerning others' actions.
  • Monitoring: Monitoring/assessing the performance of yourself, other individuals, or organizations to make improvements or take corrective action.
  • Writing: Communicating effectively in writing as appropriate for the audience's needs.
  • Judgment and Decision Making: Considering the relative costs and benefits of potential actions to choose the most appropriate one.
  • Social Perceptiveness: Being aware of others' reactions and understanding why they react as they do.

Job Zones

  • Education: These occupations usually require a high school diploma.
  • Related Experience: Some previous work-related skills, knowledge, or experience is usually needed. 
  • Job Training: Employees in these occupations need anywhere from a few months to one year of working with experienced employees. A recognized apprenticeship program may be associated with these occupations.
  • Job Zone Examples: These occupations often involve using your knowledge and skills to help others. Examples include sheet metal workers, forest fire fighters, customer service representatives, physical therapist aides, salespersons (retail), and tellers.
  • Specific Vocational Preparation in years: 3 months to 1 year of preparation (4.0 to < 6.0)

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