Purchase and Inventory Analyst

The role of a Purchase and Inventory Analyst is pivotal in streamlining an organization's procurement and inventory management processes. This position demands a keen eye for detail, excellent analytical skills, and a strategic approach to supply chain management. The analyst monitors inventory levels, evaluates purchasing patterns, and collaborates with suppliers to ensure optimal stock levels are maintained. By evaluating current market trends, the Purchase and Inventory Analyst ensures that the company benefits from cost-effective purchasing and avoids stock shortages. This role also involves in-depth data analysis to provide insights that drive purchasing recommendations and support decision-making processes. A successful candidate will need to develop effective relationships with suppliers, understand lead times, and use technology to optimize inventory systems and practices. The ability to forecast accurately, combined with an understanding of negotiation tactics, further enhances the productivity and profitability of the organization.

Responsibilities

• Monitor and manage inventory levels to support operational requirements effectively.
• Analyze purchasing patterns and trends to forecast future inventory needs accurately.
• Collaborate with suppliers to ensure timely delivery of goods and services.
• Develop and implement purchasing strategies that align with company objectives.
• Negotiate terms and prices with suppliers to maximize cost savings for the company.
• Prepare detailed reports on inventory metrics and purchasing activities and present findings.
• Identify process improvements in inventory and purchasing operations to enhance efficiency.
• Maintain accurate and updated records of supplier contracts, agreements, and transactions.
• Coordinate with other departments to align purchasing activities with production schedules.
• Evaluate supplier performance and provide feedback to ensure consistent quality standards.
• Utilize inventory management software to optimize order quantities and reorder points.

Requirements

• Bachelor's degree in supply chain management, Business Administration, or related field.
• Minimum of two years of experience in purchasing products such as Barite, Urea, Sulphur, bitumen etc
• Strong analytical skills with the ability to interpret complex data sets effectively.
• Proficiency in using inventory management and procurement software systems.
• Excellent negotiation skills and the ability to build strong supplier relationships.
• Exceptional organization skills and attention to detail in managing inventory data.
• Demonstrated ability to work under pressure and manage multiple tasks simultaneously.
• Strong written and verbal communication skills to convey information clearly.
• Ability to work collaboratively with cross-functional teams and departments.
• Knowledge of market trends and the ability to apply that knowledge to purchasing decisions.
• Experience in conducting inventory audits and preparing comprehensive reports.