Analyst, Inventory

ABC Technologies is a leading global manufacturer and supplier of custom, highly engineered, technical plastics, and light-weight innovations to the North American light vehicle industry. Serving more than 25 major original equipment manufacturer customers in 7 countries, the Company is Molding The Future and is strategically placed to offer vertically integrated product and process solutions through a skilled workforce of over 11,000 team members. Additional information about the Company can be found at .
Job Summary: As an Inventory Analyst in a plant that manufactures automotive parts, your responsibilities typically encompass a range of tasks related to inventory management, optimization, and analysis to ensure efficient operations and meet production demands. By effectively managing inventory levels, analyzing data, and implementing optimization strategies, an Inventory Analyst plays a crucial role in ensuring the smooth operation of the automotive parts manufacturing plant.
Job Responsibilities: Your supervisor may from time to time ask you to perform other related duties not specifically included in this job description. This job's key responsibilities include:
Inventory Monitoring and Control : Regularly monitor inventory levels of automotive parts to ensure they meet production requirements and customer demand. Implement inventory control measures to prevent stockouts, minimize excess inventory, and maintain optimal levels. Conduct routine cycle counts and physical inventory audits to ensure inventory accuracy. Demand Forecasting and Planning : Collaborate with production, procurement, and sales teams to forecast demand for automotive parts. Utilize historical data, market trends, and customer forecasts to develop accurate demand forecasts. Adjust inventory levels and reorder points based on demand fluctuations and production schedules. Inventory Optimization : Analyze inventory data to identify opportunities for optimization and cost reduction. Implement inventory optimization techniques such as ABC analysis, Economic Order Quantity (EOQ), and safety stock management. Develop strategies to improve inventory turnover rates and reduce carrying costs. Supplier Management: Coordinate with suppliers to ensure timely delivery of automotive parts and materials. Monitor supplier performance metrics such as lead times, on-time delivery, and quality levels. Work with procurement teams to negotiate favorable terms and manage supplier relationships. Inventory Reporting and Analysis : Generate regular reports on inventory levels, turnover rates, and stock movement for management review. Analyze inventory data to identify trends, variances, and opportunities for improvement. Provide insights and recommendations based on inventory analysis to support decision-making processes. Process Improvement: Identify inefficiencies and bottlenecks in inventory management processes. Collaborate with cross-functional teams to implement process improvements and best practices. Continuously monitor and evaluate the effectiveness of inventory management procedures. Compliance and Documentation : Ensure compliance with inventory management policies, procedures, and regulatory requirements. Maintain accurate documentation of inventory transactions, adjustments, and audits. Assist with internal and external audits related to inventory management processes. Training and Support: Provide training and support to warehouse staff and other team members on inventory management practices and procedures. Act as a subject matter expert on inventory management systems and tools. Customer Service Support: Collaborate with customer service teams to address inventory-related inquiries, shortages, and expedite requests. Ensure timely fulfillment of customer orders while maintaining inventory targets. Cross-functional Collaboration: Work closely with other departments such as production, logistics, and finance to align inventory management efforts with overall business objectives. Collaborate with IT teams to optimize inventory management systems and tools. Job Qualifications: Education: A bachelor's degree in business administration, supply chain management, logistics, industrial engineering, or a related field is often required. Skills & Experience Work Experience: Previous experience in inventory management, preferably in a manufacturing environment, is usually required. Experience with inventory analysis, demand forecasting, and supply chain optimization techniques is valuable. Industry Experience: Experience specifically within the automotive industry can be beneficial. Technical and Systems Experience: Familiarity with inventory management software, ERP systems Proficiency in Microsoft Excel or other data analysis tools is essential for analyzing inventory data and generating reports. Understanding of inventory control methods such as ABC analysis, Just-In-Time (JIT), and Economic Order Quantity (EOQ). Knowledge of inventory tracking systems and RFID technology may be necessary, depending on the plant's operations. Analytical Skills: Strong analytical abilities to interpret inventory data, identify trends, and make data-driven recommendations for process improvement. Ability to conduct root cause analysis to address inventory discrepancies, shortages, or excesses. Communication Skills: Effective communication skills are crucial for collaborating with cross-functional teams including production, procurement, and logistics. Ability to present findings and recommendations to management in a clear and concise manner. Attention to Detail: The role requires meticulous attention to detail to ensure accuracy in inventory records and minimize errors. Ability to conduct regular audits and cycle counts to maintain inventory accuracy. Problem-Solving Abilities: Capability to troubleshoot inventory-related issues and develop solutions to optimize inventory levels while minimizing costs and maximizing efficiency. Teamwork: Ability to work collaboratively within a team environment and contribute to achieving departmental goals. Willingness to adapt to changing priorities and support colleagues as needed. Regulatory Compliance: Understanding of relevant regulations and standards in inventory management, particularly in the automotive industry, such as ISO/TS 16949. Behavioural Expectations: Safety-First - A safety-first mindset is a proactive approach to safety, where all employees keep an eye out for safety issues and avoid potentially dangerous situation which could likely cause danger, risk, or injury. This also means that everyone has responsibility for safety regardless of role, level, title, or job. Continuous Improvements - Suggest every employee, everywhere is always looking for ways we can improve and standardize our work even when everything is going well. By doing so, it will drive consistent progress toward improved business performance and will tap into people's desire to be the best at what they do. Compliance - Employee compliance is achieved when workers are familiar with all the laws that govern their industry or job and know how to conduct business in an ethical manner. It often requires procedural training and encouragement to learn from mistakes. Driving Results - Everyone knows their role and is accountable for driving their work to achieve a common goal. ONE Team - being part of a group that shares strong relationships, trust, respect, and a common vision for what "good" looks like. One team means supporting and relying on one another to achieve to drive the overall business priorities and meet our customer commitments. Working Conditions: Work Environment: Inventory Analysts typically work in an office environment within the plant. They may also spend time in warehouse or storage areas where inventory is housed. The office environment is usually well-lit and climate controlled. Work Hours: The work hours for Inventory Analysts are typically standard business hours, Monday to Friday. However, occasional overtime may be required, especially during periods of high demand, inventory audits, or special projects. Shift work may be necessary in plants that operate around the clock. Physical Demands: While the role is predominantly sedentary, Inventory Analysts may need to spend some time in warehouse or storage areas conducting inventory audits or overseeing inventory management processes. This may involve walking, standing, and lifting moderately heavy objects. Technology Use: Inventory Analysts rely heavily on computers and inventory management software to perform their duties. They spend a significant portion of their time working on spreadsheets, databases, and specialized inventory tracking systems. Pressure and Deadlines: Inventory Analysts may face pressure to maintain optimal inventory levels, meet production schedules, and minimize stockouts while keeping costs in check. They must be able to work efficiently under pressure and meet tight deadlines. Safety Precautions: In warehouse or storage areas, Inventory Analysts must adhere to safety protocols and wear appropriate personal protective equipment (PPE) when necessary to ensure their safety. Tolerance to Temperature and Noise: Automotive manufacturing environments can be noisy, and temperature conditions may vary. Technicians should be able to work in these conditions comfortably and safely. Use of Personal Protective Equipment (PPE): Technicians must be willing to use and comply with the use of PPE, such as safety glasses, ear protection, gloves, and other safety gear, as required by the manufacturing environment. Environmental, Health and Safety Expectations: Employee Responsibilities: Work in compliance with ABC Standards, EHS Policies, Local, Regional and Federal acts, bylaws, and regulations. Report any spills or leaks immediately. Use personal protective equipment and clothing as required. All Employees shall follow Site Workplace Safety Guidelines. No Employee shall remove or make ineffective any protective device and must report missing or damaged protective devices. No Employee shall use or operate any equipment, machine, or device in a manner that may endanger themself or another worker, including the operation of equipment, machine, or device without proper training or certifications where required. No Employee shall engage in horseplay or unsafe acts. Employees must immediately report any hazard(s), unsafe act/condition, near miss or incident regardless of severity to their Group Leader. All Employees must maintain a drug and alcohol-free workplace in compliance with the substance abuse policy. Security and Housekeeping: Ensure visitors and contractors follow the Contractor Management Policies / Site-specific Procedures. All Employees must use the designated employee entrance and exit doors. Under no circumstances can employees prop or cause to remain open any entrance or exit door that could permit entry to the facility for unauthorized individuals. All employees shall ensure the building is always clean and a safe workplace. No food or drink is permitted in the warehouse or production area, unless in a spill proof container. All other food and drink items must remain in the designated break areas. Why ABC? In addition to a workplace that emphasizes respect, teamwork and personal and professional growth, ABC Technologies offers a broad range of health, wellness and financial benefits that promote the physical, mental and financial wellbeing of our employees and help them bring their best self to work, including:
Competitive compensation package Employee Group Benefits Retirement Saving Program (401K) Educational Assistance Program Home, Auto and Pet Insurance Vehicle Purchase Discounts Employee and Family Assistance Program Annual increases in PTO Internal job opportunities Social events throughout the year