Growth Trends for Related Jobs
Customers often have little time in the day to track down products that they need. Stores that consistently do not have the products that they promise have a difficult time staying in business. Replenishment analysts check to ensure that the right product is at the right store in the right quantities so that customers can always know that they will find the product they need.
Replenishment analysts are responsible for analyzing the supply chain of a given company. Supply chain analysis is conducted by collecting and studying audits conducted both at warehouses and stores. These analysts make sure that all the warehouse, logistical and store inventory processes are coordinated in order to make sure that products can be efficiently and successfully delivered to the appropriate stores. Then, the replenishment analyst is responsible for reporting all the activities of the supply chain to upper management, who will use this information for budgeting and business development purposes. By studying the supply chain, the replenishment analyst tries to forecast how much of a given product each store will need, according to PetSmart.
Replenishment analysts are also responsible for coordinating one-time buys during holiday season, product discounts and Internet deals, especially whenever old products need to be sold to make room for new products, according to PetSmart. Problems that occur any time in the supply chain are often reported to the replenishment analyst, who both reports these events to upper management and also devises solutions.
The educational requirements for a replenishment analyst are a bachelor’s degree in supply chain management or retail. The replenishment analyst must be able to balance the needs of various stores, taking into consideration also the capabilities of the production facilities, according to PetSmart. Problem solving skills, interpersonal skills and communication skills are also needed.
The Bureau of Labor Statistics predicts that the need for purchasing managers will grow by 7 percent between 2008 and 2018, which is the average growth across all industries. This growth will be driven by overall business and population growth that will lead to an increase in the number of products that are consumed.
Indeed.com reported that in 2008, the median earnings for replenishment managers were $58,000 at Walmart. Glassdoor.com reported that the replenishment managers at Home Depot earned salaries of between $72,000 and $89,000, with bonuses between $13,000 and $15,000.