Inventory Analyst

JOB PURPOSE
Inventory Analyst is responsible for managing and optimizing inventory levels of materials, supplies, and equipment required for various operations. The role is crucial in ensuring that the company maintains sufficient inventory to meet operational needs without incurring unnecessary costs. The position will manage all inventory and coordinates delivery, inspection, and receipt/distribution of inventory, work with contractors and act on behalf of PQPOC to communicate needs and timing for deliverables. The position shall report directly to Supply Chain Superintendent.
JOB DUTIES /RESPONSIBILITIES
• Monitor and maintain optimal inventory levels of materials, equipment, and supplies.
• Conduct regular inventory audits and cycle counts to ensure accuracy.
• Implement inventory control procedures to minimize discrepancies and ensure data integrity.
• Analyze inventory data to identify trends, forecast demand, and make recommendations for inventory adjustments.
• Prepare detailed reports on inventory status, usage patterns, and stock levels for management review.
• Collaborate with the procurement team to ensure timely and cost-effective purchasing of materials and supplies. Work closely with suppliers to track orders, resolve issues, and ensure on-time delivery.
• Develop and maintain demand forecasts based on historical data, market trends, and operational needs.
• Coordinate with various departments to understand their inventory requirements and adjust forecasts accordingly.
• Monitor and control inventory-related costs, including storage, transportation, and wastage.
• Identify opportunities for cost savings through efficient inventory management practices.
• Utilize inventory management software and systems to track inventory levels and movements.
• Ensure all inventory transactions are accurately recorded in the company's systems.
• Ensure compliance with industry regulations and company policies related to inventory management.
• Maintain a safe working environment by following safety protocols and guidelines in storage and handling of materials.
• Identify and implement process improvements to enhance inventory accuracy, reduce costs, and improve efficiency.
• Stay updated on industry best practices and emerging trends in inventory management.
• Perform tasks assigned by supervisor.