Demand and Inventory Analyst
Abstract Recruitment are seeking a professional, experienced Demand and Inventory Analyst for our client based in Milton Keynes.
The Demand and Inventory Analyst is a highly visible supply chain role that will oversee the forecasting and inventory requirements process. This is a hands-on position responsible for developing and executing Demand and Inventory Plans that will enable the business meet sales and service objectives. Collaboration with other members of the supply chain, sales, marketing, and customer support teams is paramount to achieve these sales and service objectives.
Duties and Responsibilities within this role:
- Designing and generating weekly and monthly statistical forecast reports
- Support data collection and report generation
- Continuously improving forecasting techniques, method, and approach
- Relating and measuring the impact of forecast accuracy
- Evolving and maintaining documentation and standard operating procedures for demand planning processes and systems
- Conduct current and future forecasting analysis, ensuring forecasting processes and methods are followed.
- Assemble and analyse all data pertinent to creating the sales forecast (historical sales, customer trends, seasonality, promotions, sales orders and inventory levels).
- Establish and utilize best methods in creating forecasts and respective inventory targets.
- Facilitate and lead forecast and inventory planning meetings
- Manage inventory targets (including safety stock levels) that are approved by management ensuring that sufficient stock to meet demand whilst maintaining high customer service levels and cost optimisation
- Prepare, report, and communicate forecast and inventory measurements to management (forecast accuracy, inventory plan vs. targets) and monitor obsolete or excess inventory
- Maintaining the review within the S&OP process
- Monitor SKU levels and recommend SKU rationalization initiatives in the future
- Plan inventory replenishment across the business through close liaison with the manufacturing business units in order to maximise network efficiencies
- Oversee NPI and discontinuation process
- Play a key part in the wider Supply Chain team, helping to ensure all KPIs are delivered
Experience and Skills desired:
To perform this job successfully, the individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill and/or ability required.
- Background in master scheduling, forecasting, procurement and planning.
- Strong analytical abilities
- Strong knowledge of demand planning process within Consumer Packaged Goods Industry
- Knowledge of demand management/forecasting tools, forecasting processes in sales, marketing operations, finance, manufacturing and supply chain issues
- Good communication and Team building skills
- Detail oriented
- Extreme accuracy
- Extensive spreadsheet analysis and strong mathematical abilities
- 3+ years related experience
- Experience with DRP/MRP functionality
- Knowledge of turn rates
- Knowledge of key inventory performance metrics, turns, margin contributions, etc.
- Ability to lead cross-functionally.
- Collaborative skills in resolving long and short positions in inventory.
- Participate in conference calls with manufacturing factories, often once weekly.
- Maintain and update master files [items, vendors, etc].
- All other duties as assigned
Qualifications desired for this role:
- A minimum of two years experience in the role of Demand and/or Inventory Planning
- BA/BS college degree or its equivalent
- APICS or other forecasting certification preferred
This is a permanent role paying up to £38,000 PA for the right candidate.