Job Title: Inventory Analyst

Job Description: The Inventory Analyst is responsible for managing and optimizing inventory levels to support the efficient operation of the pharmacy. This role involves analyzing inventory data, monitoring stock levels of pharmaceuticals and related products, and making strategic recommendations to ensure adequate supply while minimizing excess inventory and stockouts. The Inventory Analyst collaborates closely with pharmacy management, purchasing teams, and vendors to maintain accurate forecasting and efficient inventory replenishment processes.

Key Responsibilities:

1. Analyze inventory data and trends specific to pharmaceuticals and healthcare products.
2. Monitor stock levels of prescription medications, over-the-counter drugs, and medical supplies to ensure optimal inventory levels are maintained.
3. Work closely with pharmacy management to develop and implement inventory management strategies aligned with business objectives.
4. Collaborate with purchasing teams to place orders, track deliveries, and manage vendor relationships.
5. Conduct regular audits of inventory records and physical stock to ensure accuracy and compliance with regulatory requirements.
6. Utilize inventory management software/systems to track inventory movements, expiry dates, and lot numbers.
7. Generate reports and provide insights to pharmacy management on inventory performance, cost trends, and potential risks.
8. Identify opportunities for process improvements to enhance efficiency and reduce costs in inventory management.
9. Coordinate with pharmacy staff to address inventory-related issues and optimize workflow.
10. Stay informed about industry regulations, product recalls, and changes in pharmaceutical supply chain dynamics.

Qualifications:

• Bachelor’s degree or equivalent experience preferred.
• Prior experience in inventory management within a retail pharmacy or healthcare setting preferred.
• Strong analytical skills with proficiency in Excel or other data analysis tools.
• Excellent communication and collaboration skills.
• Detail-oriented with a focus on accuracy and compliance.
• Ability to multitask and prioritize in a fast-paced environment.
• Familiarity with pharmacy software (e.g., BestRX etc.) is a plus.

Benefits:

• Opportunities for professional development and advancement within the company.
• A supportive and collaborative work environment focused on patient care and customer service.