Forecasting and Demand Analyst

Job Description

In the dynamic world of business, the role of a Forecasting and Demand Analyst is crucial for maintaining an organization’s competitive edge. This position is responsible for predicting future product demand, helping companies optimize inventory levels, and supporting financial planning and budget management. The analyst plays a significant role in data analysis to anticipate sales trends and align them with production capabilities, thereby ensuring product availability and customer satisfaction. With a keen eye for detail and a strong background in data analytics, the Forecasting and Demand Analyst leverages advanced statistical models and software tools to generate insightful forecasts, support strategic decision-making, and drive business growth. This role requires collaboration across multiple departments, working closely with sales, marketing, supply chain, and finance teams to gather historical sales data, market trends, and external factors impacting demand. 

Responsibilities

• Conduct thorough analyses of historical sales data to identify trends and forecast demand accurately.
• Develop and implement advanced statistical forecasting models to predict future product demand.
• Collaborate with cross-functional teams to integrate market intelligence into demand planning processes.
• Monitor inventory levels and recommend adjustments to optimize inventory turnover and reduce costs.
• Prepare and present detailed reports on demand forecasts and trending analysis for management review.
• Evaluate the impact of marketing campaigns and promotions on sales forecasts and inventory requirements.
• Maintain regular communication with supply chain and operations teams to ensure alignment on demand forecasts.
• Identify potential risks affecting the supply-demand balance and suggest mitigation strategies.
• Stay updated on industry trends, economic factors, and competitor activities affecting demand fluctuations.
• Support budgeting and financial planning efforts by providing demand-related insights and projections.

Requirements

• Bachelor’s degree in Business, Supply Chain, Statistics, or a related field.
• Proven experience in demand forecasting, data analysis, or a similar role.
• Strong analytical skills with the ability to interpret complex datasets effectively.
• Proficiency in statistical analysis tools and forecasting software applications.
• Excellent communication skills, both verbal and written, to convey complex information clearly.
• Experience with data visualization tools like Tableau or Power BI is preferred.
• Strong problem-solving skills with a focus on data-driven decision making.
• Familiarity with ERP systems and supply chain processes is advantageous.
• Ability to work collaboratively with cross-functional teams and foster positive relationships