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Inventory Analyst
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Position Summary
The Long-Term Care (LTC) Pharmacy Inventory Analyst is responsible for ensuring accurate, efficient, and cost-effective management of pharmaceutical inventory across long-term care pharmacies. The Inventory Analyst uses data analytics, forecasting tools, and vendor coordination to maintain appropriate stock levels and support pharmacy operations.
Key Responsibilities
Inventory Planning & Optimization
- Monitor daily ordering quantities of medications, controlled substances, vaccines, and supplies from each LTC pharmacy.
- Analyze usage trends and order history to forecast inventory needs and prevent stockouts or overstocking.
- Implement inventory optimization strategies to reduce waste, returns, and expired product.
- Evaluate medication movement patterns and recommend adjustments to par levels.
- Standardize drug files in the operating system to maintain consistency within each LTC pharmacy.
Data Analysis & Reporting
- Generate and interpret inventory reports, including purchase trends, shrinkage, fulfillment accuracy, and cost-savings opportunities.
- Develop performance indicators to track inventory KPIs (turns, service levels, accuracy, cost).
- Utilize dispensing data to optimize gross margin with assistance from purchasing software.
- Provide regular reporting to leadership and collaborate on inventory-related goals and initiatives.
Process Improvement
- Identify inefficiencies and streamline inventory workflows through process redesign or system enhancements.
- Participate in technology implementations related to inventory, automation, or analytics tools.
- Support continuous improvement initiatives across purchasing and inventory operations.
Qualifications
Education
- Bachelor’s degree preferably in Supply Chain, Inventory Management, or related fields.
- Equivalent experience may be considered.
Experience
- 2–4+ years of inventory management.
Skills & Competencies
- Strong analytical and problem-solving abilities.
- Proficiency in Excel, Google Sheets, or BI tools (Power BI, Tableau, etc.).
- Excellent communication and collaboration skills.
- Detail-oriented with strong organizational abilities.
- Ability to work independently and manage multiple priorities.
Physical & Work Environment Requirements
- Ability to sit, stand, or walk for extended periods as job duties require.
- May require occasional lifting of up to 25 lbs.
- Work is generally performed in an office or pharmacy environment.
Additional Information
- Occasional travel to LTC facilities or distribution sites may be required.
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