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all about inventory analyst jobs

As an inventory analyst, your main role is ensuring all inventory remains at required levels, ordering supplies, tracking shipments and supporting engineering projects. The specific details of the job will depend on the company you work for and their inventory requirements. If you are highly organized, pay attention to detail, are a strong communicator and have the experience and educational background, contact Randstad Canada today to learn more about career opportunities.

what inventory analyst jobs entail

Inventory analysts work normal office hours. You will spend much of your day working on a computer using inventory analysis software. Some of your day may be spent in the company’s inventory warehouse. Some travel may be required to meet and negotiate with vendors or to visit other company locations. In most cases, you will report to a supply chain manager, warehouse manager, or a senior inventory manager.

average inventory analyst salaries

The average salary for an inventory analyst working in Canada is about $75,000 per year. The salary range starts at $50,000 and you can make more than $90,000 annually. Incentives and performance bonuses may also be included in your compensation package. Experience in the role and skills such as inventory management and data analysis are associated with higher annual salaries for professionals in this role/

your day to day tasks

Working as an inventory analyst requires experience with statistical analysis, supply chain management and business management. Some of the many tasks that may be included in your job description:

ensure inventory levels are up to company standards
manage inventory shortages
track invoicing and expenses
analyze inventory trends and data to make accurate decisions
find ways to improve inventory management
negotiate with vendors
ensure shipments are on time
place orders and manage deliveries
maintain the inventory system
create efficiencies to reduce loss
create inventory reports for management

where you can work

Inventory managers in engineering tend to work for construction, building, and planning companies. You may also work for a government agency, supplier, or other companies. Jobs of this nature are available in cities across Canada. There are also many other opportunities as inventory analysts in other industries outside of engineering.

what you bring to the table

As an inventory analyst working in the engineering industry, you will need a detailed understanding of the inventory needs and trends for engineering and construction organizations. You have strong business skills and the ability to build profitable relationships with buyers, suppliers, and other key players. Companies look for candidates with the following skills and abilities:

statistical analysis
detailed understanding of the industry
strong negotiation skills
ability to build professional relationships
ability to manage inventory issues
problem solving abilities
organization and attention to detail
ability to make decisions under pressure
knowledge of the engineering industry

training and certifications

The educational requirements by hiring companies can vary for inventory analyst roles. A degree in engineering, economics, supply chain management or business is preferred. A master’s or post-secondary degree is an asset. Those with the most education will have the greatest opportunity to succeed within the industry now and when it comes time to take a step up in their careers.

where your career is headed

There is opportunity within the industry. Experience working as an inventory analyst in engineering can open up a number of career paths. You could find work in another related industry such as construction or manufacturing. You could also take a step up to roles such as production planner, supply chain planner, buyer, and other inventory and supply chain roles.

Are you looking for inventory analyst roles in the engineering industry? Randstad Canada can help. Contact us today to learn more about opportunities in your region.