Companies hire material analysts to manage inventory and shipping of goods, minimizing loss and overheads, thus keeping company expenses at the lowest possible. They make sure every material necessary for production is in stock and manage distribution to satisfy the needs of the supply chain.
As a material analyst, you will be responsible for creating an annual plan for material acquisitions, and sometimes you might also be involved in quality control processes. You will assess the required quantities of materials and make sure material specifications match their projected use.
A degree in business management or global operations will most likely be necessary to land a material analyst position. Completing a supply and logistics management course might also suffice, the most important being familiar with management practices and inventory control software.
There is more than meets the eye when it comes to being a material analyst. For example, did you know that they make an average of $30.8 an hour? That's $64,062 a year!
Between 2018 and 2028, the career is expected to grow 5% and produce 8,400 job opportunities across the U.S.
There are certain skills that many material analysts 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 critical-thinking skills, customer service skills and organizational skills.
When it comes to the most important skills required to be a material analyst, we found that a lot of resumes listed 16.1% of material analysts included supply chain, while 6.9% of resumes included logistics, and 6.5% of resumes included mrp. 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 material analyst job title. But what industry to start with? Most material analysts actually find jobs in the manufacturing and technology industries.
If you're interested in becoming a material analyst, one of the first things to consider is how much education you need. We've determined that 64.8% of material analysts have a bachelor's degree. In terms of higher education levels, we found that 9.1% of material analysts have master's degrees. Even though most material analysts 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 a material analyst. When we researched the most common majors for a material analyst, we found that they most commonly earn bachelor's degree degrees or associate degree degrees. Other degrees that we often see on material analyst resumes include master's degree degrees or high school diploma degrees.
You may find that experience in other jobs will help you become a material analyst. In fact, many material analyst jobs require experience in a role such as buyer. Meanwhile, many material analysts also have previous career experience in roles such as customer service representative or administrative assistant.