Supply chain analysts collect data and then perform analysis to improve the supply chain system. They are committed to improving superior worker performance and reducing the cost of items needed on the business. The supply chain analyst acts as the point of contact for many major purchases from projects outside the company. They study fair prices and negotiate with company representatives to make sure the business gets a good entity at the best price. In addition, they have in-depth understanding about the inventory management and actively monitor the content used to help other team members by making sure they have the necessary support they need.
Job description of Supply Chain Analysts
Supply chain analysts need to be able to handle stress and be able to multitask effectively, because their workday is typically a rhythm. Most people in this field work in an office environment during normal business hours. Supply chain analysts generally work in collaboration with supply chain managers and planners and purchasing managers, reporting to the senior supply chain managers. Although employment growth will be less than that of other industries, the demand for freight transport in the global market will continue to maintain the demand for this position.
Job Responsibilities of Supply Chain Analysts
Supply chain analysts are responsible for analyzing the life cycle of goods from the planning stage to the final consumer. This includes designing and manufacturing materials, which might include multiple locations & distribution centers and delivery to end customers. Followings are the general supply chain analyst functions:
- Design and implement methods to collect and manage supply chain data.
- Research and find the most cost-effective logistics solutions.
- Review and analyze the collected data to improve the process.
- Seek to negotiate the best deals to increase business revenue
- Plan and implement supply chain optimization projects
- Maintain friendly and professional relationships with suppliers, while promoting the business image.
Required Skills of Supply Chain Analyst
The skills required for the supply chain analyst’s position are namely;
- Inventory management experience
- Mathematical skills
- Business improvement analysis experience
- In depth understanding of IT
- Interpersonal skills
It is not out of say that supply chain analysts also required to add some advanced skills to climb the career ladder which are namely but not limited to, Project management knowledge, Product consumption analysis, Advanced knowledge about various trade tools, such as Structured Query Language (SQL) analysis tools, Microsoft Excel, Different Analysis models, and Statistical analysis tools.