Supply Analyst

A supply analyst handles the role and function of a purchasing, procurement and inventory management specialist, that plans, organizes, directs, controls, tracks and evaluates the activities of a purchasing nature.

They implement the purchasing policies of a business or institution. They are employed throughout the public and private sectors. Quantitative skills are important in all analytical and economics-type specialties. Purchasing and inventory clerks process purchasing transactions and maintain inventories of materials, equipment and stock. They are employed by retail and wholesale establishments, manufacturing companies, government agencies and other establishments.

Supply analysts, purchasing and/or inventory clerks, at different levels of their career, perform some or all of the following duties:

• Review requisition orders for accuracy and verify that materials, equipment and stock are not available from current inventories
• Source and obtain price quotations from catalogues and suppliers and prepare purchase orders
• Calculate cost of order and charge or forward invoice to appropriate account
• Process purchases within purchasing authority
• Contact suppliers to schedule deliveries and to resolve shortages, missed deliveries and other problems
• Prepare and maintain purchasing files, reports and price lists.
• Monitor inventory levels as materials, equipment and stock are issued, transferred within an establishment or sold to the public using manual or computerized inventory systems
• Compile inventory reports, recording the quantity, type and value of materials, equipment and stock on hand, using manual or computerized inventory systems
• Prepare requisition orders to replenish materials, equipment and stock
• Maintain stock rotation and dispose of and account for outdated stock
• Enter data for production scheduling, stock replenishment/relocation and inventory adjustments
• Reconcile physical inventories with computer counts.

In this role, workers increasingly utilize technology, statistical analysis and spreadsheets, digital, wireless and mobile technology and devices and it is growing increasingly sophisticated at that, with clear implication for this profession in the years to come.

The duties of purchasing and inventory clerks may overlap in some establishments. Progression to supervisory positions or more senior occupations such as purchasing agent or retail buyer is possible with additional training or experience. They often work under great pressure. Because wholesale and retail stores are so competitive, buyers need physical stamina to keep up with the fast-paced nature of their work. Qualified persons may begin as trainees, purchasing clerks, expediters, junior buyers, or assistant buyers. Retail and wholesale firms prefer to hire applicants who have a college degree and who are familiar with the merchandise they sell and with wholesaling and retailing practices

Completion of secondary school is usually required. Courses in purchasing management may be required for all analysts and purchasing clerks. Courses in production and inventory management and ability to operate a computerized inventory system may be required for inventory clerks.

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