Supply Chain Analyst Job Description, Skills, and Salary
Get to know about the duties, responsibilities, qualifications, and skills requirements of a supply chain analyst. Feel free to use our job description template to produce your own. We also provide you with information about the salary you can earn as a supply chain analyst.
Who is a Supply Chain Analyst?
A supply chain analyst is a specialist who tracks the efficiency of the supply chain, identifies risks and trends, and makes suggestions for risk-reduction strategies. Supply chain analysts work to make sure that goods are transported as effectively as possible to their intended destinations. They invest a lot of time evaluating data on the delivery process, and they could provide suggestions for how to make it better. Their expertise may be utilized to find methods to save costs or shorten the time it takes to deliver items. They also actively participate in addressing problems that develop when deliveries are late or when other problems make it difficult for a business to satisfy customer demand for its products.
A supply chain analyst essentially examines the movement of goods across a supply chain. The analyst searches for any problems with the present procedure before working to find solutions to make it better, hence enhancing supply chain efficiency. This is a fundamental description of supply chain analysis; now let’s examine more closely some crucial methods by which this position functions. At each level of the supply chain management process, whether it be: A supply chain analyst’s responsibilities include obtaining data, interpreting it, sharing it with colleagues or superiors, and then facilitating decision-making. Every phase of supply chain management involves analysts. Analysts are essential to establishing the optimal supply chain strategy at every stage, from sourcing materials to network design and all in between.
The majority of organizations that hire supply chain analysts have extensive supply networks that need constant evaluation. They have jobs in a variety of sectors, including e-commerce, retail, manufacturing, the food industry, as well as in the public and nonprofit sectors. These specialists are in charge of overseeing every aspect of a company’s logistics system, from order placement through delivery. By cutting down on the price and duration of product delivery to the factory and the customer, they aim to improve the efficiency of their employer’s supply chain. When problems occur, supply chain analysts utilize their extensive understanding of the logistics network to find solutions and prevent expensive delays. Workflow analysis and the use of analytical and quantitative techniques are the duties of supply chain analysts, who are also responsible for improving supply chain procedures. Their job description calls for several tasks, such as data collection, performance analysis, issue detection, and suggestion development to assist supply chain management planning and operations.
The objective of the supply chain analyst is to assist the company in boosting staff productivity, inventory turns, and cash flows. To improve the distribution of products, supply chain analysts are in charge of data mining and analysis to comprehend and exhibit best practices in stock placement optimization, process improvement, and the creation of different logistic strategies. They collaborate with several cross-functional teams, such as Logistics, MIS, Merchandising, and Operations, to help, influence, and provide solutions that pinpoint the underlying cause of problems and enhance process improvement.
Additionally, supply chain analysts provide a system and analytical assistance for the creation, execution, and administration of plans and policies. To create supply plans and estimate product flow, supply chain analysts combine data on trends with past sales data. Additionally, they are in charge of carrying out purchase orders by the supply strategy, adhering to specifications, and ensuring that merchandise reaches various distribution centres without incident. To guarantee that key performance metrics are satisfied, they are in charge of routinely providing analysis of supply chain data and giving suggestions for process improvement. They support the creation of operational tools and procedures for gathering and keeping track of supply chain process metrics. To drive efficiency with technology and conduct analysis using a variety of internal software applications that result in the best suggestions for supply chain network system improvements, they actively collaborate with various business stakeholders in logistics, DC operations, and MIS, as well as various internal organizations.
Coordination and implementation of supply chain and warehousing best practices are also included in the job description of a supply chain analyst. The analysts are in charge of managing the solutions as they relate to the customer agreement, and they may suggest and put into action modifications to increase productivity, lower costs, or need less assistance. They sometimes have to engage with customers and represent the business in consumer settings. To make sure that the organization’s solutions are fulfilling the needs of the customers, they are in charge of managing transportation management business operations, including shipping route plan optimization and implementation.
A candidate requires a degree in business administration or supply chain management to work as a supply chain analyst. Additionally, you must have prior experience working in a supply chain setting. Working for a firm with a convoluted supply chain or giving your time freely to assist a non-profit organization in optimizing its supply chain procedures are two ways to benefit from this. Entry-level jobs like supply chain associate or supply chain analyst are where most supply chain analysts begin their careers. They can rise to jobs like supply chain director or manager with experience.
Some supply chain analysts could also transition into similar industries like transportation or logistics. Supply chain analysts may need to utilize specialized software to monitor items, therefore they need to be proficient with computers. They may handle big quantities of merchandise and must be knowledgeable about various delivery procedures, thus they need strong organizational abilities to keep track of items and problems. Since one of their goals is to find methods to enhance product delivery and since they are in charge of acting when delays happen, problem-solving abilities are crucial. They often contact other management professionals, product providers, and other parties engaged in the delivery of goods, therefore communication skills are crucial. When they examine data on the supply chain process and look for methods to save costs, they use analytical and quantitative abilities.
Supply Chain Analyst Job Description
Below are the supply chain analyst job description examples you can use to develop your resume or write a supply chain analyst job description for your employee. Employers can also use it to sieve out job seekers when choosing candidates for interviews.
- Make suggestions for improvement by analyzing data to find trends in sales, client preferences, or delivery patterns.
- Provide reports on inventory levels and other supply chain data for management evaluation.
- Work together with suppliers to discuss price details or settle any difficulties that may come up throughout the ordering process.
- Develop new goods or packaging in collaboration with suppliers to fulfill consumer demands.
- Analyze data to predict future product demand and change inventory levels appropriately.
- Meet deadlines set by customers and create metrics dashboards that emphasize statistics tailored to individual customers.
- Examine cutting-edge innovations in robotics and mobile technology that could be used in the supply chain.
- Make reports on supply chain performance indicators including cycle times, inventory turnover rates, and order fill rates.
- Review and authorize supplier bills based on the conditions stated in contracts.
- Work with shipping providers to arrange for product delivery.
- Use tactical procedures every day while adhering to the established corporate regulations.
- Respond to consumer inquiries and provide solutions using your discretion and independent judgment.
- Help fix issues and assist implementations, consult internal subject matter experts
- Implement any process adjustments and changes to the transportation design while adhering to engineering-set procedures.
- Help with the planning and execution of a supply chain solution that has been established.
- Find areas where the client may save money.
- Manage activities and analyses that recur to support ongoing cost-saving efforts.
- Evaluate existing procedures and suggest or implement changes to eliminate waste.
- Perform root cause analysis while actively managing and monitoring key performance metrics.
Qualifications
- A high school diploma or its equivalent is essential.
- A certification in logistics, corporate management, or a similar profession is required.
- Experience in managing, analyzing, and improving supply chain operations.
- Working experience finding the cheapest rates for goods and simplifying processes to optimize every part of the supply chain is required.
- Exceptional capacity to see big-picture tasks and anticipate challenges and solutions.
- Working knowledge of Microsoft Excel and other pertinent databases, as well as other databases that are important to business activities.
- Ability to interpret facts and make meaningful inferences from them.
- Comprehensive knowledge of supply chain procedures in all their facets.
- Outstanding interpersonal abilities.
- Communication skills are essential.
- Detail-orientedness is a required skill.
Essential Skills
- Analytical skills: To succeed as a supply chain analyst, you don’t need a degree in data science or mathematics, but being able to read, analyze, and understand data will make you a valuable employee for any firm in the sector. You may develop the analytical abilities necessary to recognize patterns and trends in data sets by enrolling in a degree programme in supply chain management. Understanding data and using it to guide business choices is data analysis. Data analysis is a tool that supply chain analysts use to assess the effectiveness of existing supply chain operations and create ideas for improvement. These vital abilities will help you succeed as a logistics and supply chain manager by allowing you to make data-driven choices for the improvement of your company.
- Communication skills: Supply chain analysts interact with a wide range of individuals, including management, suppliers, customers, and other supply chain analysts. They communicate using a range of channels, including the phone, email, instant messaging, and video conferencing. Additionally, they provide reports and other written materials that call for lucid expression.
- Solving problems skills: Supply chain analysts utilize their problem-solving abilities to address supply chain difficulties. They could employ their problem-solving abilities to come up with solutions that would save expenses, boost productivity, or enhance the customer experience.
- Critical thinking skills: Making judgments on supply chain procedures requires the use of critical thinking techniques by supply chain analysts. They could use critical thinking to look out for methods to increase productivity, save expenses, or locate other materials sources.
- Technical skills: You will acquire the information and abilities necessary to properly understand the supply chain’s increasingly complicated technical parts if you get a degree in supply chain management. These technical abilities will enable you to comprehend and visualize the whole supply chain process, as well as to foresee any potential problems along the way—a crucial competency for successful supply chain analysis. With these technical abilities under your belt, a supply chain management degree will also educate you on how to properly and professionally explain technical elements to non-technical coworkers and clients.
- Organizational skills: To maintain track of data and information about the company’s supply chain, supply chain analysts employ organizational skills. To produce reports and presentations for their bosses and customers, they also use organizational skills.
How to Become a Supply Chain Analyst
Step 1: Research the job description of a supply chain analyst
A supply chain analyst keeps an eye on and speeds up the flow of supplies, tools, and data needed by the supply chain to make sure that crucial procedures happen as planned and accomplish corporate objectives and performance KPIs. optimizes the supply chain by coordinating with procurement, manufacturing, inventory management, distribution, transportation, and other operations. As a supply chain analyst, you spot problems or bottlenecks and escalate them or suggest remedies. works to find solutions with suppliers. A supply chain analyst may also help with contract or service agreement negotiations. a bachelor’s degree is necessary. usually answers to a manager or the head of the division/department. On occasion, the supply chain analyst oversaw many areas of the job. gaining exposure to some of the challenging job-related duties. A typical requirement for becoming a supply chain analyst is 2-4 years of relevant experience.
Step 2. Earn a degree
A Bachelor’s Degree in Business or a closely related discipline is often required to start your career path as a supply chain analyst to stay a competitive alternative for employers. Focus on developing industry-specific skills throughout your studies to be prepared for applying for entry-level jobs and starting your career. A Supply Chain Analyst internship may be needed to get your Bachelor’s Degree and learn critical on-the-job skills before joining the profession. Ongoing education is essential. Continued education is not always necessary to develop your supply chain analyst profession in all fields and organisations. However, obtaining this degree can make it easier for you to move up to employment with greater pay more rapidly. It might take four years to get a graduate business degree. People who have graduate degrees often earn more money than those who don’t.
Step 3. Choose a specialty and get an entry-level position in the field.
It’s necessary to choose a specialty in your industry as a supply chain analyst. Select the area of supply chain analysis where you feel most comfortable, and then continue to take proactive actions to advance in that area. Typically, you’ll start your job as a supply chain analyst at the entry-level after earning a bachelor’s degree in business or a closely related discipline. Generally speaking, you may become a supply chain analyst after earning your four-year bachelor’s degree in a relevant field. You may want to consider becoming a certified buying manager depending on the kind of Supply Chain Analyst position you’re seeking.
Step 4. Advance in Your Supply Chain Analyst Career
There are various stages in the Supply Chain Analyst job path after entry-level. To advance to the position of senior supply chain analyst, it may take two years as an entry-level supply chain analyst. To progress in your supply chain analyst profession, you’ll need around two years of experience at each level for each advanced job. To enhance your career as a supply chain analyst, you may need to complete extra coursework, get an advanced degree (such as a Master’s Degree in a relevant discipline), or obtain specialized certifications.
Where to Work as a Supply Chain Analyst
The majority of supply chain analysts work in an office setting, however occasional travel may be necessary to meet with suppliers or clients. They work in a variety of industries where moving items is necessary. This comprises, among other things, manufacturing firms, retailers, and logistics service providers. Although they often work standard business hours, they sometimes put in extra time to fulfill deadlines or go to conferences or meetings. Analysts in the supply chain must be able to multitask and operate effectively under pressure.
Additionally, they must have the capacity for autonomous work and the drive to achieve deadlines. Over the next ten years, supply chain analysts’ employment is anticipated to increase on average. The need for supply chain analysis will result from the desire to increase supply chain efficiency and lower costs. For businesses to create and execute innovative procedures that boost productivity and save costs, supply chain analysts will be required.
Supply Chain Analyst Salary
Salary ranges for supply chain analysts depend on their degree of education, years of experience, firm size, and sector. Bonuses are another possible kind of remuneration for them. In Nigeria, the average salary for a supply chain analyst is around 424,000 NGN per month. Normally, the salaries fall between 204,000 NGN and 666,000 NGN. In the United States, supply chain analysts earn an average salary of $65,639 per year or $31.56 per hour. On the lower end of the scale, supply chain analysts earn around $47,000 a year, while those at the highest end make about $91,000.