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Inventory Planning Analyst (Hybrid)
About the position
The Inventory Planning Analyst works closely with Inventory Planners and cross functional partners in driving business results and customer satisfaction. Working with a cross-functional teams with merchandising, inventory, production and sourcing, the Inventory Planning Analyst supports a select portion of the business both pre-season and in-season. This position is responsible for optimizing inventory levels to ensure optimal stock availability while minimizing costs. This role requires a strong analytical mindset, excellent forecasting abilities, and a deep understanding of supply chain and inventory management principals.
Responsibilities
- Monitor and analyze inventory levels across multiple locations and channels to ensure optimal stock levels.
- Execute and implement inventory optimization strategies to minimize stockouts and overstock situations.
- Conduct regular reviews of inventory performance metrics and adjust plans accordingly
- Utilize historical data, market trends, and sales forecasts to predict future inventory needs accurately.
- Balance inventory across styles/sku's
- Create flow-plans, production schedules, and commit timelines
- Manage in-stock, fill, delivery slides, receipt reconciliation, and commit timeline
- Participate in ad hoc Inventory Planning initiatives as appropriate
- Support a collaborative, innovative, and results-oriented environment with peers and cross-functional team resulting in shared best practices
- Provide Inventory Planner(s) and members of leadership with timely information and deliverables
- Utilize advanced analytics tools to support data-driven decision-making processes.
- Collaborate with peers to ensure consistency of information, best practices and to develop systems knowledge
- Develop and maintain effective working relationships with members of the immediate and cross functional team
- Manage to monthly beginning of month (BOM) targets, provide recommendations, actions to hit the plan
- In season management of inventory and flow to support sales trends
- Responsible for proofing catalogues on website for accuracy
- Identify opportunities to streamline and improve inventory management processes and systems.
- Lead or participate in projects aimed at enhancing inventory accuracy and efficiency.
- Stay updated on industry best practices and emerging trends in inventory management and supply chain optimization.
- Must follow all safe work practices, escalate unsafe conditions and report incidents.
Requirements
- Strong skills in data analysis tools such as Excel, and BI tools (e.g., Power BI).
- Demonstrate excellent analytical and problem solving skills, strategic thought process
- Able to develop and maintain strong working relationships with peers and cross functional teams
- Financial acumen, with high attention to detail and accuracy
- Excellent communication skills - both written and verbal
- Flexible and adaptive to changing priorities
- Highly organized and able to prioritize and manage time and workload to meet deadlines
- Proficiency in in inventory management software and ERP systems (e.g., SAP, Oracle, Microsoft Dynamics) and using Planning and Forecasting, Business Objects, LE Mainframe, Excel, and other required PC based packages
- Bachelor’s degree in Supply Chain Management, Business Administration, Logistics, or a related field
- 2-4 years of experienced in inventory planning, supply chain analysis, or related roles
- Proven experience in managing inventory for multi-channel and multi-location operations.