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.