Inventory Analyst

Description

Job Summary

The Inventory Analyst is responsible for managing obsolete inventory within our retail parts and service shop. This role involves analyzing inventory data, developing strategies to identify and dispose of obsolete items efficiently, and collaborating with various departments to optimize inventory levels while minimizing financial losses.

Key Responsibilities

• Obsolete Inventory Management: Analyze inventory data to identify obsolete or slow-moving items within the retail parts and service shop.
• Data Analysis: Utilize statistical methods and inventory management software to track inventory levels, turnover rates, and demand patterns.
• Forecasting and Planning: Develop forecasts and projections for obsolete inventory based on historical data, market trends, and sales forecasts.
• Inventory Optimization: Collaborate with procurement and sales teams to optimize inventory levels, ensuring that stock levels align with demand while minimizing the risk of obsolescence.
• Disposition Strategies: Develop and implement strategies for disposing of obsolete inventory, including liquidation, discounting, or repurposing.
• Vendor Relations: Coordinate with vendors to negotiate returns, exchanges, or buy-back agreements for obsolete inventory items.
• Process Improvement: Continuously evaluate and improve inventory management processes to enhance efficiency and accuracy.
• Reporting: Prepare regular reports and presentations for management, summarizing obsolete inventory trends, disposal strategies, and financial impacts.
• Compliance: Ensure compliance with company policies, industry regulations, and best practices in inventory management.
• Cross-Functional Collaboration: Work closely with other departments, including sales, finance, and operations, to align inventory management strategies with overall business objectives.

Other Duties

• Work in a team environment with little or no supervision;
• Promote the company’s core values; integrity, respect, commitment, quality, innovation
• Other duties as assigned.

Qualifications

• Bachelor's degree in Business Administration, Supply Chain Management, Finance, or a related field.
• Proven experience (2 years) in inventory management, preferably in a retail or parts environment.
• Strong analytical skills with proficiency in Excel or other data analysis tools.
• Knowledge of inventory management software systems (e.g., SAP, Oracle, or similar).
• Excellent communication and interpersonal skills, with the ability to collaborate effectively with cross-functional teams.
• Detail-oriented with a focus on accuracy and precision in data analysis and reporting.
• Ability to work independently and prioritize tasks in a fast-paced environment.
• Familiarity with inventory forecasting methods and demand planning techniques.
• Understanding of inventory accounting principles and financial metrics.
• Experience in managing obsolete inventory or implementing inventory disposition strategies is a plus.

Qualifications