The Forecast Analyst will forecast groups by product category. This position is responsible for an average amount of forecast dollars and/or records and has a significant financial impact on departments and the organization.
The Forecast Analyst is responsible for accurately forecasting product utilizing a statistical forecast system requiring strong mathematical skills. This position is also responsible for ensuring high customer satisfaction rates while maintaining adequate inventory levels at each distribution center location. The Forecast Analyst will use multiple methods and tools to evaluate past sales history, future customer demand, customer placements and seasonality trends. This position will communicate with a wide-variety of internal and external customers to negotiate and make recommendations to fulfill customer demands while ensuring a reasonable inventory level plan.
What You Need?
- Bachelor degree in Business, Supply Chain, or related field, Required
- 1+ year experience in supply chain fields (inventory stocking, buying, demand planning)
- Experience in data mining, analysis and reporting
- Advanced expertise with Excel applications required (interactive excel, macros) is a plus
- Excellent interpersonal and organizational skills, good judgment, and problem-solving abilities
- Experience with ERP system, BI, SQL, SAP, Tableau is a plus
- Ability to learn best practices in Purchasing
- Ability to learn Supply Chain Systems
What Will You Do?
- Analyze, update, and monitor the forecast for accuracy using a statistical forecast system and communicate changes to appropriate departments. Forecast groups by product category.
- Evaluate and monitor future orders versus forecast; make forecast changes when needed. Create and maintain product journals. Responsible for an average amount of forecast dollars and/or records.
- Independently make decisions to change and update forecasts and derived ratios by comparing future forecast to actual history, and percent of change in demand following standard operating procedures and established guidelines.
- Identify out-of-the-norm conditions on any product and communicate to management; make recommendations for solution. Evaluate inventory and the reliability of the supply chain flow for approval of Ad Notice, promotional requests and customer projections to ensure customer satisfaction and product availability.
- Enter additional demand into the statistical forecast system; closely monitor current and future inventory levels. Provide direction for expediting orders when necessary and ensure proper inventory levels are available.
- Identify planned drop items and/or groups; evaluate and make recommendation for best time frame for drop based upon remaining finished goods inventory, raw material inventory on hand and/or at vendor locations.
- Negotiate with Production, Purchasing and/or vendor regarding the final run dates and provide direction for expediting, deferring and/or cancelling orders when necessary and ensure proper inventory levels are available.
- Recommend excess inventory items to be added to the Hot Buys (could include current product); develop a plan and make recommendations for closing out remaining inventory; identify when a discontinued item should be coded as a liquidation item.
- Review inventory reports and make requests and recommendations to improve inventory levels; review selling ratios for balancing sets.
- Provide direction for expediting, deferring or cancelling orders for makes, buys or transfers, when necessary and ensure proper inventory levels are available.
- Contribute to the planning of long- and short-term business objectives; actively participate in product review meetings and Sales & Operations Planning (S & OP) meetings as required.
- Positively and professionally represent the company when handling complaints and resolving issues when product is in limited supply, customer orders are delayed or product is in excess.
- Update forecasting system for first availability dates on new product and/or product with availability issues.
- Create and maintain debit memos as needed for rework, liquidation, scrap and exportation.
- Monitor production capacity versus demand and on-time delivery utilizing various reports.