A Demand Planner forecasts product demand, manages inventory, and optimizes supply chain operations to meet customer needs while minimizing costs. They analyze sales data, market trends, and other factors to create accurate forecasts and collaborate with various teams to ensure efficient product availability.
Key Responsibilities of a Demand Planner:
Demand Forecasting:
Analyze historical sales data, market trends, and promotional activities to predict future product demand.
Inventory Management:
Develop and maintain inventory targets, ensuring sufficient product availability while minimizing excess inventory.
Collaboration:
Work closely with sales, marketing, supply chain, and operations teams to align forecasts and strategies.
Data Analysis:
Utilize statistical models and forecasting techniques to identify patterns and trends in customer demand.
Supply Chain Optimization:
Proactively identify potential supply chain disruptions and collaborate with other departments to mitigate risks.
Monitoring and Adjustment:
Continuously monitor sales trends and adjust forecasts as needed to maintain accuracy.
Reporting and Analysis:
Prepare and present reports on key performance indicators related to demand planning.
In essence, a Demand Planner acts as a crucial link between various departments, ensuring the company can effectively meet customer demand while optimizing inventory and supply chain operations.