What does an Inventory Analyst do?
An inventory analyst is an individual who is responsible for managing inventory items and the daily inventory operations of an organization. Inventory analysts are required to analyze inventory statistics and perform financial analytics to determine which products are selling the most and which are under-performing. They must coordinate with project managers and shipping supervisors to plan and schedule pickups of inventory items. Inventory analysts also order inventory from vendors and document any inventory discrepancies, such as missing items.
Inventory analyst responsibilities
Here are examples of responsibilities from real inventory analyst resumes:
- Manage vendor compliance and EDI contacts; set up new vendors and monitor EDI data flow.
- Manage inventory procurement through MRP software.
- Manage production and non-production stockrooms to ensure that inventory FIFO exceed industry standards.
- Manage inventory levels by running bi-weekly MRP reports by identifying and validating purchasing requirements.
- Collect, document, monitor, and review inventory data for accuracy and timeliness within an ERP SL system.
- Analyze inventory transactions within ERP system.
- Maintain monthly inventory reconciliations, produce inventory reports on a regular basis for management.
- Research and apply GAAP rules in accounting adjustments.
- Train employees on the POS inventory systems and provide technical support.
- Pull reporting most recently in a data warehouse and previously through SQL's.
- Travele to third party locations to ensure SOX compliance by observing physical inventory counts.
- Head up meeting with all department managers to discuss and troubleshoot for variance reductions.
- Research and maintain with assistance from engineers and buyers accurate master data and BOM information.
- Maintain data in WMS system and send cycle count results to the customer upon request.
- Develop relationship with buyers and vendors to assure inventory levels are maintain and SOX compliant.
Inventory analyst skills and personality traits
We calculated that 12% of Inventory Analysts are proficient in Supply Chain, Customer Service, and Logistics. They’re also known for soft skills such as Interpersonal skills, Problem-solving skills, and Writing skills.
We break down the percentage of Inventory Analysts that have these skills listed on their resume here:
- Supply Chain, 12%
Manage weekly reports for high level executive analysis of vendor service levels and performance within multiple departments of Supply Chain Management.
- Customer Service, 9%
Balance customer's needs with company's profitability utilizing professional judgment to assess impact of decisions; deliver excellent customer service.
- Logistics, 7%
Developed and maintained strong, productive relationships with logistics, manufacturing, purchasing and accounting to enhance delivery and efficiency.
- Purchase Orders, 6%
Analyzed vehicle replacement part inventory levels and placed purchase orders when necessary to guarantee proper inventory levels were maintained.
- Inventory Control, 5%
Provided the coordination and interface between all departments as it related to inventory control and system maintenance activities.
- Manage Inventory, 4%
Analyze demand requirements to align orders, manage inventory levels and allocate orders with accuracy and thoroughness to reduce inventory costs.
Most inventory analysts use their skills in "supply chain," "customer service," and "logistics" to do their jobs. You can find more detail on essential inventory analyst responsibilities here:
Interpersonal skills. The most essential soft skill for an inventory analyst to carry out their responsibilities is interpersonal skills. This skill is important for the role because "operations research analysts typically work on teams." Additionally, an inventory analyst resume shows how their duties depend on interpersonal skills: "developed excellent interpersonal skills while providing customer service. "
Problem-solving skills. Another essential skill to perform inventory analyst duties is problem-solving skills. Inventory analysts responsibilities require that "operations research analysts need to be able to diagnose problems and study relevant information to solve them." Inventory analysts also use problem-solving skills in their role according to a real resume snippet: "examined and documented inventory discrepancies using sage x3 erp system to identify root causes and offer possible solutions. "
Analytical skills. For certain inventory analyst responsibilities to be completed, the job requires competence in "analytical skills." The day-to-day duties of an inventory analyst rely on this skill, as "operations research analysts use a range of methods, including forecasting and data mining, to examine and interpret data." For example, this snippet was taken directly from a resume about how this skill applies to what inventory analysts do: "analyzed inventory transactions within erp system. "
Math skills. Another crucial skill for an inventory analyst to carry out their responsibilities is "math skills." A big part of what inventory analysts relies on this skill, since "the models and methods used by operations research analysts are rooted in statistics, calculus, linear algebra, and other mathematics disciplines." How this skill relates to inventory analyst duties can be seen in an example from an inventory analyst resume snippet: "create statistics for rack verifications and cycle counts. "
Communication skills. Another skill commonly found on inventory analyst job descriptions is "communication skills." It can come up quite often in inventory analyst duties, since "operations research analysts write memos, reports, and other documents and often present their data and conclusions to managers and other executives." Here's an example from a resume of how this skill fits into day-to-day inventory analyst responsibilities: "direct communication with contracted distribution centers that handle warehousing, shipping/receiving of our customer's product. "
The three companies that hire the most inventory analysts are:
- Jabil11 inventory analysts jobs
- Bunzl Distribution7 inventory analysts jobs
- SupplyHouse.com7 inventory analysts jobs
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Compare different inventory analysts
Inventory analyst vs. Method consultant
Co-operations interns perform various tasks for an organization. These include troubleshooting computer issues for employees, updating the documentation on internal troubleshooting, and designing and performing clerical tasks such as data entry and making telephone calls. Co-operations interns must learn management techniques to lead and supervise others, assist in the management and implementation of production plans, and participate in meetings with the manager. They are also expected to perform tasks such as researching and preparing logistics reports.
There are some key differences in the responsibilities of each position. For example, inventory analyst responsibilities require skills like "supply chain," "customer service," "logistics," and "purchase orders." Meanwhile a typical method consultant has skills in areas such as "java," "mws," "interface design," and "sftp." This difference in skills reveals the differences in what each career does.
Method consultants earn the highest salaries when working in the professional industry, with an average yearly salary of $98,944. On the other hand, inventory analysts are paid more in the manufacturing industry with an average salary of $60,032.On average, method consultants reach higher levels of education than inventory analysts. Method consultants are 20.3% more likely to earn a Master's Degree and 1.0% more likely to graduate with a Doctoral Degree.Inventory analyst vs. Co-operations internship
A graduate research associate is tasked with many responsibilities. Firstly, you may be required to monitor the progress of research projects and coordinate information between departmental sections. Secondly, depending on where you find a placement, you may be the one in charge of the laboratory. If so, you will perform a wide range of assays, tests, and studies. Your job may also involve the performance of advanced laboratory experiments. You may also collect, prepare, and analyze slides for tissue cultures.
While some skills are similar in these professions, other skills aren't so similar. For example, resumes show us that inventory analyst responsibilities requires skills like "supply chain," "logistics," "purchase orders," and "inventory control." But a co-operations internship might use other skills in their typical duties, such as, "python," "c++," "c #," and "java."
Co-operations interns may earn a lower salary than inventory analysts, but co-operations interns earn the most pay in the energy industry with an average salary of $41,064. On the other hand, inventory analysts receive higher pay in the manufacturing industry, where they earn an average salary of $60,032.In general, co-operations interns achieve similar levels of education than inventory analysts. They're 1.5% more likely to obtain a Master's Degree while being 1.0% more likely to earn a Doctoral Degree.Inventory analyst vs. Graduate research associate
An operational risk analyst is responsible for evaluating the company's operational processes and policies and identify procedures that pose risks for the business. Operational risk analysts strategize techniques to minimize financial loss and prevent operational hazards that may cause delays in operation and affect the quality of deliverables. They analyze incident reports and other underlying factors to improve services and develop opportunities that would bring more revenue resources and profits for the business. An operational risk analyst may also facilitate safety training and programs for employees to reiterate guidelines and regulations for compliance.
There are many key differences between these two careers, including some of the skills required to perform responsibilities within each role. For example, an inventory analyst is likely to be skilled in "supply chain," "customer service," "logistics," and "purchase orders," while a typical graduate research associate is skilled in "r," "technical reports," "cell culture," and "research projects."
Graduate research associates typically earn higher educational levels compared to inventory analysts. Specifically, they're 15.3% more likely to graduate with a Master's Degree, and 7.5% more likely to earn a Doctoral Degree.Inventory analyst vs. Operational risk analyst
Types of inventory analyst
Updated January 8, 2025
