Inventory Planner Career Profile, Salary & Job Outlook
What does an Inventory Planner do?
An inventory planner develops and manages inventory plans for a company. They maintain appropriate inventory levels that support baseline and promotional sales. In addition, they’re responsible for forecasting in-season sales and inventories based on historical buys, reoccurring buys, and current inventory levels.
How much does an Inventory Planner make?
According to Glassdoor, Inventory Planners make a national average of $67,003 or $32.21 an hour (as of March 2022). Entry-level inventory planners make around $45,000 annually, with senior-level inventory planners making $100,000 a year. Of course, this wide range also depends on skill, seniority, company, and location.
What impact does this career have towards the fashion industry?
Inventory can be expensive. If a company is overstocked and products aren’t selling, it’s a sunken cost. Inventory planners help reduce costs by ensuring products are in stock based on sales activity. They also increase profits by liquidating obsolete inventory.
What is the job outlook for this career?
Analysts forecast that global apparel will grow to $2.25 trillion by 2025. According to the U.S. Bureau of Labor Statistics (BLS), job opportunities in fashion (including Inventory Planners) are expected to remain steady in growth during the 2020-2030 decade.
How to kick-off your career:
- Consider working in a stockroom or warehouse to gain an understanding of inventory management.
- Explore the Parsons School of Design x Teen Vogue Fashion Industry Essentials online course.
- Download Yellowbrick’s Ultimate Fashion Career Guide.
Learn from:
Brandon Maxwell
Designer, Lady Gaga’s Stylist,
Fashion Industry Essentials contributor
Related Careers:
Product Manager | Production Manager | Technical Designer | Product Developer | Product Line Manager | Sample Coordinator | Quality Assurance Manager | Sustainability Officer
