Parts Inventory Analyst

Interstate Companies Inc. is looking to add a Parts Inventory Analyst at our Corporate office in Eagan Minnesota. The Parts Inventory Analyst ensures optimal inventory levels are maintained to meet operational demands while minimizing costs associated with overstocking or stock shortages. This role involves a blend of analytical skills, inventory management, and supply chain logistics.

Pay Range: $60,000-$70,000 per year DOE

This role requires a meticulous individual who enjoys working with data and has a keen interest in optimizing processes. The Parts Inventory Analyst plays a critical role in ensuring that operational efficiencies are met through smart inventory management.

Key Responsibilities:

• Inventory Management:
  
  
  
  • Monitor and maintain accurate records of parts inventory, ensuring data integrity in inventory management systems.
  • Perform regular inventory audits to reconcile physical stock with system records.
  
  
  
  
• Analysis & Reporting:
  
  
  
  • Analyze inventory data to identify trends, forecast future demand, and recommend adjustments to inventory levels.
  • Generate and distribute inventory reports on usage rates, lead times, turnover ratios, and other key metrics.
  • Use statistical models and forecasting tools to predict inventory needs.
  
  
  
  
• Optimization:
  
  
  
  • Develop and implement strategies for inventory optimization to reduce excess stock and increase inventory turnover.
  • Work on reducing obsolete stock and manage the disposal or sale of surplus parts.
  
  
  
  
• Supply Chain Coordination:
  
  
  
  • Liaise with procurement to ensure timely ordering of parts based on demand forecasts and current stock levels.
  • Coordinate with suppliers for lead time information and potential backorder situations.
  
  
  
  
• Cost Control:
  
  
  
  • Identify opportunities for cost savings in inventory handling, storage, and procurement.
  • Monitor inventory costs and work towards reducing the cost of goods sold through efficient inventory management.
  
  
  
  
• Process Improvement:
  
  
  
  • Recommend and help implement improvements to the inventory management processes to increase efficiency.
  • Participate in cross-functional teams to streamline operations between departments like sales, production, and purchasing.
  
  
  
  
• Compliance and Safety:
  
  
  
  • Ensure compliance with company policies and external regulations concerning inventory management.
  • Maintain safety standards in inventory storage to ensure parts are stored correctly to prevent damage.
  
  
  
  
• Customer Service:
  
  
  
  • Position will be working directly with parts professionals throughout the company to ensure proper inventory control.
  
  
  
  

Qualifications:

• Educational Background:
  
  
  
  • Bachelor's degree in business, Supply Chain Management, Operations Management, or a related field.
  
  
  
  
• Experience:
  
  
  
  • 2-4 years of experience in inventory management, supply chain, or a similar role in manufacturing or distribution.
  
  
  
  
• Skills:
  
  
  
  • Strong analytical, quantitative, and problem-solving skills.
  • Proficiency with inventory management software and ERP systems.
  • Advanced Excel skills: experience with data analysis tools like SQL, Halo, Rim, Rim Pro is a plus.
  • Excellent organizational skills and attention to detail.
  • Ability to work independently or as part of a team.
  
  
  
  
• Certifications (preferred but not mandatory):
  
  
  
  • Certified in Production and Inventory Management (CPIM) or similar.
  
  
  
  
• Soft Skills:
  
  
  
  • Good communication skills for interacting with various stakeholders.
  • Ability to prioritize tasks in a fast-paced environment.
  
  
  
  

Working Conditions:

• Office environment, with occasional travel to branches.
• Some travel might be required for inventory audits or supplier meetings.

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.

Interstate Companies is an Equal Opportunity Employer, and we encourage all qualified and interested persons to apply for this position by submitting a resume for consideration.

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