Forecast and Inventory Analyst
Position: Forecast and Inventory Analyst
Department: Inventory Management
Reports To: Director of Inventory Management
Develop, analyze and load standard product forecast on a monthly basis utilizing statistical models as well as feedback from sales personnel. This forecast is the basis for the company’s demand and material plan and is used to feed the monthly Factory S&OP process. Demand forecasting responsibilities will take about 25% of the analyst’s time with the balance being spent performing Inventory Analyst duties. As an Inventory Analyst, the primary responsibility is to set inventory parameters in order to maximize service and optimize inventory. KPI’s for this combined position include Forecast Accuracy and Monthly Service Percentage.
- Maintain all forecast related system parameters and master data in SAP and ForecastPro
- Continually monitor and improve forecast accuracy by making improvements to the forecasting process/model
- Constant collaboration with Global Sales Representatives on key customer and OEM forecasts at the material level. Collect, maintain and compare these customer driven forecasts to actual demand
- Responsible for the standard-product monthly forecast load into SAP
- Responsible for the removal of the forecast near month end
- Responsible for maintaining certain key customer forecasts in SAP on behalf of other EO Sales Plants based on contracts in place
- Collaborate with Product Line Managers (PLMs), Buyers and Inventory Analysts regarding ramp-up forecasts on marketing/sales promotions
- Communicate major forecast changes to Director of Inventory Management and Sr Director of Service
- Develop Excel modeling tools as needed
- Use software (ION) to analyze and set inventory parameters for the materials assigned, with the goal to maximize service and minimize inventory
- Implement changes to Min Lot Size and other MRP parameters
- Develop proficient understanding of SAP functionality as it pertains to both roles
- Perform quarterly or semi-annual ABC analysis on standard and custom parts
- Ownership of the End of Life (EOL) process for all standard products and the SAP master data behind it. Requires communication and collaboration with PLMs, Buyers, and Sales/Customer Service Reps
- Identify obsolete, surplus, or slow-moving stock and proactively work with PLMs, Sales Reps, Buyers and others to determine appropriate action
- Other analytical tasks assigned by Director of Inventory Management as needed
- Comply with federal, state, and company policies, procedures, and regulations
To perform this position successfully, an individual must be able to perform each essential function satisfactorily. The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable Accommodations may be made to enable individuals with disabilities to perform the essential functions.
Required Skills & Abilities:
- Experience with ForecastPro and SAP ECC 6.0 forecasting functions preferred
- Proficiency in Forecasting and Inventory Planning terminology required. APICS certification a plus
- Possess strong analytical and data management skills
- Strong Excel skills a must: Pivot tables, PowerPivot, etc
- Must have great attention to detail
- Be motivated and a self starter with the ability to prioritize and organize time effectively and work with little supervision
- Communicate effectively with internal and external customers in a professional and courteous manner
Bachelor’s Degree in Business or Technical Discipline; minimum of three (3) years or equivalent work experience.
Ability to lift up to 15 pounds and operate office equipment such as a copier; ability to see details at a close range; ability to sit at desk or PC for long periods of time; ability to travel; work in office setting.
Edmund Optics shall, in its discretion, modify or adjust the position to meet the company’s changing needs. This job description is not a contract and may be adjusted as deemed appropriate in the employer’s sole discretion.