Demand Forecast Manager
Demand forecast managers track market trends to help predict the level of consumer want for a particular product or service. These managers help companies to determine what business or marketing strategies should be implemented, how much inventory should be stocked, and what areas need to be adjusted to meet market needs. He or she is able to predict the demand for particular products and/or services for a particular amount of time (one year in advance, for example).
The demand forecast manager then tracks the forecast he or she has made using sales data. He or she must manage all forecast models, analyze trends, manage forecast tools, and keep accurate data that is to be reported to upper management. Demand forecast managers work as part of a team and consult with marketing, finance, sales, and research and development departments.
A Bachelor’s degree in a business field such as economics, logistics, supply chain management, or finance is the minimum requirement to become a demand forecast manager. Many employers require a Master’s of Business Administration degree with special training in data forecasting. Analytical skills, communication skills, computer skills, specialized software skills (such as SAS or SPSS programs), planning skills, data entry skills, and reporting skills are all necessary as well.
The typical average salary of an experienced demand forecast manager is about $128,000 per year. Starting salaries pay an average of about $68,000 per year.
