The planning of demand is an important aspect of supply chain management. Demand planner jobs are available in almost every company that manufactures and sells goods, whether wholesale or retail. Because different companies have different needs depending on the products they handle, demand planner jobs will vary significantly. Still, these jobs can be divided into three categories: forecasting-only jobs, forecasting-and-inventory-management jobs, and forecasting-and-inventory-management jobs with a variety of other responsibilities.
Forecasting is the process of predicting how much of a particular product will be needed and when it should be delivered using statistical analysis of company supply chain data. Depending on a variety of factors, such as the number of products sold, the number of businesses, retailers, or end users expecting the products, and the variety and seasonality of the products, this can be a very complex and time-consuming process. The ability to forecast accurately can help a company avoid losses due to overstock or product shortages, which can have a significant financial impact. As a result, some demand planner jobs are solely concerned with supply chain forecasting.
Other types of demand planner jobs necessitate forecasting as well as inventory management. The demand planner would be in charge of managing current and future inventory in addition to predicting the amount of product required. This could include excess inventory storage, shipping, and management. This is frequently a hands-on position that requires some warehouse supervision and management.
Many types of demand planner jobs are multifaceted and include other related responsibilities in addition to forecasting and inventory control. A demand planner, for example, may be in charge of carrier rate negotiations or the actual purchase of products and product components. If a company’s demand planning is done by a group rather than an individual, the job may also include team management and administration. The specific responsibilities required for these multifaceted jobs differ significantly from one company to the next. Furthermore, many larger companies have various levels of demand planning, including supervisory, management, and directorship positions, each with its own set of responsibilities and duties.
Certain skills are usually required regardless of the type of demand planner job that an individual obtains. Demand planning jobs, for example, necessitate strong analytical skills, a thorough understanding of the supply chain, and the ability to interpret data. It’s almost always necessary to have good organizational and communication skills. Demand planning technology is constantly changing and improving, so no matter what type of demand planning job one obtains, one must be willing to adapt and learn new ways to perform job functions.