Create forecast models for a business.
What does a Demand Planner do?
Demand planners forecast numbers following an analysis using the company’s earnings data and the current resources available within the company. The forecasted numbers help the company weather market fluctuations during a financial year and allow the supply chain group to avoid excess inventory, which can mean the difference between profit and loss for the company.
Your job is to manage demand planning for new and existing products. You work out a product demand plan and also provide forecasts for seasonal demands, such as during discounts and sales. Your forecast is based on demand for the product and business trends. To understand the demand patterns, you maintain an inventory. You also assess risk and work closely with the sales, marketing, and finance departments.
To be a demand planner, you should have two to three years of industry experience and a bachelor’s degree or its equivalent in experience. You must know statistics, prediction, and prediction methodology, as well as their operational and financial implications. This job requires analytical, interpersonal, and communication skill, in addition to attention to detail.