The major
responsibility of a supply chain demand planner is to develop both demand and
inventory plans that will allow the company to meet its sales goals and satisfy
its customers. Demand planners must often work closely with other departments
of the firm, such as sales, marketing, and operations, in order to successfully
predict future demand and what inventory levels will be needed in order to
satiate all of their customers. Statistical forecasting is the first step in
the process. Forecasters use historical data to determine possible variances,
as well as current trends and economic changes that may have an effect on how
consumers act. Once the demand planner feels comfortable with the forecasts,
they are shared with suppliers and other key stakeholders, so they too know
what to be expecting. The overall profitability of the firm is very much
dependant on the demand planner, as overstocking can cost a company thousands
of dollars, but not having enough of a certain product can be just as harmful,
so it is essential that the forecaster be as accurate as possible with his
estimates. The average pay for a supply chain demand planner is estimated to be around $66,000 with the
potential to increase over the course of a career. However, in order to qualify for the position of a supply
chain demand planner, a four year college
degree in a related field is necessary.
Also, strong analytical, spreadsheet and mathematical skills are
needed. Furthermore, knowledge in
inventory metrics, turns, margin contributions, scheduling,
forecasting, and procurements are required.
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