Inventory Planner

What is an Inventory Planner?

An Inventory Planner is a strategic professional responsible for forecasting product demand, managing inventory levels, and optimizing stock management processes to support business goals. They analyze sales trends, coordinate with suppliers, and align inventory strategies with marketing and sales forecasts to ensure seamless operations.

By leveraging data analytics and collaborating with cross-functional teams, Inventory Planners maintain a balance between supply and demand, prevent stock-outs or overstock situations, and enhance overall efficiency. Their expertise in inventory systems and best practices is vital to maintaining accurate records and achieving operational success.

Average Monthly Employment Cost (with Benefits)

Average Annual Employment Cost (with Benefits)

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Inventory Planner Job Description

We are seeking a talented Inventory Planner to join our team and play a key role in managing and optimizing our inventory processes. In this role, you will analyze sales trends, forecast product demand, and coordinate inventory orders to ensure timely and cost-effective stock replenishment.

Responsibilities include developing and maintaining inventory reports, monitoring stock levels, and collaborating with sales and marketing teams to align inventory with promotional plans. You will also review and enhance inventory management practices to drive efficiency and achieve business objectives. If you are detail-oriented, analytical, and passionate about inventory planning, we’d love to hear from you.

In this role, you will: 

• Analyze Sales Trends: Regularly review historical data and sales trends to forecast demand for products and adjust inventory plans accordingly.
• Order Inventory from Suppliers: Coordinate with suppliers to place inventory orders, ensuring timely and cost-effective delivery to meet business needs.
• Monitor Inventory Levels: Continuously check inventory levels to avoid stock-outs or overstock situations, making adjustments as necessary.
• Develop and Maintain Inventory Reports: Create and update inventory reports, ensuring accurate records and documentation of inventory activities.
• Coordinate with Sales and Marketing Teams: Work closely with sales and marketing teams to align inventory levels with forecasted demand and promotional plans.
• Review and Improve Inventory Management Processes: Regularly assess and optimize inventory management practices to enhance efficiency and support business goals.

Essential Skills & Qualifications:

• Bachelor’s degree in Business Administration, Operations Management, or a related field.
• Proven experience as an Inventory Planner or in a similar role, demonstrating expertise in demand forecasting and inventory management.
• Strong understanding of best practices in inventory management, including demand forecasting and stock-level optimization.
• Excellent analytical skills with a proactive approach to addressing challenges.
• Proficiency in Microsoft Excel and other relevant software.
• Strong interpersonal skills with the ability to work collaboratively within a team and independently.

Preferred Qualifications:

• Experience with inventory management systems such as SAP or Oracle.
• Familiarity with sales and marketing collaboration to align inventory strategies with business goals.
• Proven ability to create and maintain detailed inventory reports for accurate record-keeping.
• Knowledge of optimizing inventory management processes to enhance operational efficiency.
• Strong problem-solving skills to identify and address inventory-related challenges proactively.