An inventory planner is responsible for creating effective strategies to boost the profitability of an organization. It is expected of an inventory planner to track records of shipments of goods and ensure that databases are updated in the organization's inventory system to avoid discrepancies.
It is also your duty as an inventory planner to predict future inventory needs and construct pre-season plans that will ensure the free flow of goods based on requirements. You will be required to work with the sales and marketing department to take in monthly sales inventory and also share information with team members.
Employers require an inventory planner to have a bachelor's degree in finances, accounting, and other related fields. For this role, you need to have effective communication skills, ability to monitor individuals and organization activities at a go. Adequate planning skills and knowledge of how to use inventory management software are also necessary. An inventory planner earns an average salary of $61,000 in a year.
There is more than meets the eye when it comes to being an inventory planner. For example, did you know that they make an average of $29.45 an hour? That's $61,261 a year!
Between 2018 and 2028, the career is expected to grow 1% and produce 46,900 job opportunities across the U.S.
There are certain skills that many inventory planners have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed customer-service skills, detail oriented and math skills.
When it comes to the most important skills required to be an inventory planner, we found that a lot of resumes listed 11.8% of inventory planners included inventory levels, while 10.2% of resumes included supply chain, and 7.0% of resumes included purchase orders. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.
When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the inventory planner job title. But what industry to start with? Most inventory planners actually find jobs in the retail and manufacturing industries.
If you're interested in becoming an inventory planner, one of the first things to consider is how much education you need. We've determined that 68.3% of inventory planners have a bachelor's degree. In terms of higher education levels, we found that 7.4% of inventory planners have master's degrees. Even though most inventory planners have a college degree, it's possible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become an inventory planner. When we researched the most common majors for an inventory planner, we found that they most commonly earn bachelor's degree degrees or associate degree degrees. Other degrees that we often see on inventory planner resumes include master's degree degrees or high school diploma degrees.
You may find that experience in other jobs will help you become an inventory planner. In fact, many inventory planner jobs require experience in a role such as buyer. Meanwhile, many inventory planners also have previous career experience in roles such as customer service representative or inventory analyst.