Job profile

Supply Chain Analyst

Supply Chain Analyst Job Profile

What is a Supply Chain Analyst?

Supply Chain Analysts assess a company’s processes and inventory and then use that data to improve efficiency and reduce costs.

To generate a profit, an organisation’s supply chain must work smoothly and effectively, making the Supply Chain Analyst a critical job within any supply related industry.

In order to fulfil public expectations and ensure that the company meets their interests, Supply Chain Analysts evaluate the adequacy of stock inventories, as well as market industry changes.

They also assess the supply chain from the planning phases to the final distribution, analysing issues to reduce complexity and costs while maintaining service quality.

A Supply Chain Analyst is someone who is naturally drawn to a structured workplace, has detail-oriented habits, and has a propensity for leadership.

There’s considerable profit to be made if you can establish a demonstrated track record for your Supply Chain Analyst position.

Responsibilities

Specific Supply Chain Analyst tasks vary per company, however, the following are some of the most common Supply Chain Analyst responsibilities:

 

  • Gather data on each step of the supply chain and use it to make cost-cutting recommendations.
  • Analyse data to determine areas for performance improvement.
  • Monitoring and data collection on current activities, such as scheduling, sourcing, warehousing, manufacturing, and delivery.
  • Investigate process stumbling obstacles and devise solutions to disputes and inefficiencies.
  • Negotiate with vendors and carriers to get the cheapest prices and make sure contracts are followed.
  • Communicate with various departments within the business to discover inefficiency concerns, develop solutions, and execute changes.
  • Prepare performance reports for evaluation by management.
  • Train supply chain teams
  • Perform inventory analysis and generate inventory reports
  • Ensure corporate policies and procedures are followed
  • Work with supply chain partners

Salary

Given the wide range of Supply Chain Analyst job roles available in a number of sectors, compensation varies. Because certain cities have a higher number of high-level Supply Chain Enterprises, compensation varies not just by industry but also by geographic location.

Furthermore, your salary will vary depending on your level of seniority or experience.

In the United Kingdom, the typical annual income for a Supply Chain Analyst is £33,430, ranging from £23,000 to £51,000 per year. To put this in context, the average salary in London is £37,452 a year, with incomes ranging from £27,000 to £55,000.

Working hours and work location 

A Supply Chain Analyst’s usual work hours are from 9 a.m. to 5 p.m., Monday through Friday. Due to the fact that materials are frequently shipped around the clock, extra or weekend hours may be required.

Supply Chain Analysts are found in virtually all industries. Apart from the office-based work, Supply Chain Analysts may be required to travel for meetings or field assessments. 

What to expect

Any organisation that wants to achieve operational excellence by building effective logistical procedures needs a Supply Chain Analyst. The Supply Chain Analyst not only studies but also oversees, all of the company’s supply chain activities. 

Your responsibilities, as a Supply Chain Analyst, involve acquiring and evaluating cost, productivity, demand, and transportation data. You’ll also be in charge of designing and implementing supply chain optimisation initiatives, as well as partnering with IT experts and other team members to create more efficient processes.

You must keep detailed records of all supply chain activities and be prepared to offer suggestions for improving the company’s supply chain operations.

A Supply Chain Analyst has to be familiar with supply chain management and the usage of key technologies such as Microsoft Office, ERP systems, and relational databases.

Project management, cost accounting capabilities, business ethics, communication, and soft skills are among the additional talents required of a Supply Chain Analyst.

There is a lot of variety in entry-level supply chain employment, both in terms of industry and job kinds. Some of the major industries that have served as landing grounds for fresh graduates wishing to go into a supply chain analysis career include:

  • Automobile
  • Consultancy
  • E-commerce
  • Retail
  • Consumer packaged goods
 

A Supply Chain Analyst normally reports to a manager or director of supply chain management, and may occasionally report directly to a general manager, depending on the size and type of company.

Qualifications

In terms of education, a high school diploma is all that is necessary to work as a Supply Chain Analyst.

In truth, it’s a lot more complicated than that. A bachelor’s degree, or possibly a master’s degree, in business management, marketing, or Supply Chain Management, is preferred.

There is no such thing as a Supply Chain Analyst degree in academia, but if there were, it would almost certainly require completion of a Supply Chain Internship as well as professional certifications such as CIPS and CILT. That is the most effective strategy to prepare for a career as a Supply Chain Analyst.

This is a function that requires demonstrated experience and very few companies will take a chance on someone with no supply chain experience for this position.

A Master’s degree in Business and Administration with Banking and Finance (MBA with banking and finance) is beneficial and will put you in a better position to start earning the highest salary straight away.

By being certified as a qualified Risk Manager, you can ensure that you continue to grow your talents and increase your income. This entails earning internationally recognised qualifications.

Skills

Here are examples of Supply Chain Analyst skills:

must have skills:
  • Familiarity with supply chain operations
  • Experience as a Supply Chain Analyst, Logistics Coordinator, or comparable function
  • Experience in data mining, analysis, and reporting (e.g.inventory planning, warehouse management)
  • Experience with Microsoft Office, relational databases, and ERP systems 
  • Analytical and business-savvy mind
  • Ability to solve problems 
  • Excellent interpersonal skills.
  • Attention to detail
  • Excellent communication abilities
  • Excellent organisational skills

Work experience

Given that there is no obvious road to becoming a Supply Chain Analyst, how does one end up doing this job?

As previously said, a decent degree is an excellent starting point. Your degree demonstrates that you have a strong desire to work in the supply chain, that you succeed when tested, that you have years of experience with Microsoft suite products such as Excel, that you understand the warehousing side of things, that you work well with analytics, and that you communicate well with others in the industry.

 

A number of professions incorporate Supply Chain Analysis, some of them include:

 

  • Sales and marketing
  • Research and Development
  • Finance
  • Legal
  • Public Relations
 

That implies that you may get a foot in the door even if you began your career in an entirely different field. A background in another industry might help you stand out, particularly if you want to work in one of the rising supply chain business roles like data scientist, risk manager, or business development lead.

 

A demonstrated track record in Supply Chain Analysis is a desirable next step after a degree.

 

A Supply Chain Internship, for example, with a local logistics company or manufacturer, where you can get in on the ground floor and work directly with management, learn about ERP, KPIs, and other supply chain data, understand the flow of supply chain processes, visualise what process improvement is, and immerse yourself in the world of Supply Chain Analysis. This will impress potential employers.

 

To stand tall in comparison to your competition, a professional certification goes a long way. As previously mentioned, CIPS and CILT certifications can improve your chances of getting this job. 

You could find that previous work experience can assist you to become a Supply Chain Analyst.

In reality, many Supply Chain Analyst roles demand prior expertise in a capacity such as a Buyer (Buyers do research, analyse, and acquire things such as apparel, electronics, food, and so on to resale to consumers at retail or wholesale businesses.). A lot of the Supply Chain Analysts have prior work experience in positions such as Customer Service Representatives.

Career prospects

What can I do with a Supply Chain Management degree? The adaptability of Supply Chain Management career pathways and day-to-day tasks offers doors to possibilities in a wide range of roles.

Furthermore, wide transferrable abilities provide easy entry points for problem-solving experts new to the industry to acquire supply chain employment and learn more about supply chain analysis as they advance through the ranks.

 

Supply Chain Analysis job titles accessible across various industries include:

 

  • Sourcing Analyst
  • Materials Analyst
  • Production Analyst
  • Inventory Analyst
  • Demand Planning Analyst
  • Deployment Analyst
  • Transportation Analyst
  • Supply Chain Planning Analyst
  • Supply Chain Modelling Analyst.
 

Given the diverse businesses that are heavy-handed in Supply Chain employment, as well as the numerous sorts of Supply Chain Analyst job titles, it is clear that identifying your specialisation will be critical.

 

Start applying for employment once you’ve narrowed down your alternatives. Speak to everyone. The more you interact with individuals in the Supply Chain sector, even if it is simply through unsuccessful interviews, the more you will understand the industry and what is expected of you.

 

A Supply Chain Analyst can progress their career in a variety of ways, climbing up the corporate ladder to the following positions:

 

  • Supply chain director or vice president
  • Head of manufacturing
  • General manager
  • Director of finance

Related Courses

Here are some MSc recommendations: 

The Logistics and Supply Chain Management MBA delivered by the University of the West of Scotland provides a valuable insight into this ever-changing, yet very important business topic. This one-year full-time unique course combines supply chain and logistics and the broader business strategy to drive great results. Delivered by industry experts at a world-leading business centre in the heart of London, this is a great choice for anyone looking for a career as a Supply Chain Analyst.  

Other related courses
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