Demand Planning and Forecasting Manager in Alaska Career Overview

As a Demand Planning and Forecasting Manager, you play a key role in shaping the supply chain and inventory strategies for your organization. Your primary responsibilities encompass analyzing historical sales data, market trends, and customer behavior to predict future product demand.

  • You collaborate closely with various departments, including sales, marketing, and supply chain management, to ensure alignment of demand forecasts with business objectives.

  • By utilizing advanced analytical tools and methodologies, you create accurate forecasts that help in minimizing excess inventory, reducing stockouts, and optimizing resource allocation.

  • Your insights inform production schedules, procurement decisions, and logistics planning, directly impacting operational efficiency and profitability.

  • The accuracy of your forecasts not only enhances customer satisfaction through timely product availability but also contributes to cost savings and revenue growth.

In Alaska’s dynamic business environment, your expertise is essential for companies striving to navigate market fluctuations and consumer demand patterns effectively. Your role supports strategic decision-making and drives overall business success in an increasingly competitive landscape.

Demand Planning and Forecasting Manager Salary in Alaska

Annual Median: $106,640
Hourly Median: $51.27

Data sourced from Career One Stop, provided by the BLS Occupational Employment and Wage Statistics wage estimates.

Required Education To Become a Demand Planning and Forecasting Manager in Alaska

To become a Demand Planning and Forecasting Manager, specific educational qualifications and training programs are essential. Consider the following degree paths:

  • Business Administration and Management: This program provides a foundational understanding of business operations, including strategic planning and resource management, essential for managing demand planning processes.

  • Business Analytics: With a focus on data analysis and interpretation, this degree equips you with the skills to analyze market trends and make informed forecasting decisions.

  • Supply Chain Management: This program covers the essential aspects of managing the flow of goods and services. It is instrumental in understanding how demand impacts the supply chain.

  • Operations Management and Supervision: This degree emphasizes efficient resource management and operational strategies, key components in developing effective demand forecasting techniques.

  • Applied Statistics: A strong background in statistics is beneficial for analyzing data patterns and trends. This program focuses on the statistical methods necessary for accurate demand forecasting.

Pursuing one or a combination of these degrees will establish a solid academic foundation for a career as a Demand Planning and Forecasting Manager.

Best Schools to become a Demand Planning and Forecasting Manager in Alaska 2024

#1Maricopa County

University of Phoenix-Arizona

Phoenix, AZ

In-State Tuition:$9,552
Out-of-State Tuition:$9,552
Admission Rate:N/A
Graduation Rate:18%
Total Enrollment:88,891
#2Merrimack County

Southern New Hampshire University

Manchester, NH

In-State Tuition:$15,000
Out-of-State Tuition:$15,000
Admission Rate:96%
Graduation Rate:41%
Total Enrollment:164,091
#3Salt Lake County

Western Governors University

Salt Lake City, UT

In-State Tuition:$7,404
Out-of-State Tuition:$7,404
Admission Rate:N/A
Graduation Rate:49%
Total Enrollment:156,935
#4El Paso County

Colorado Technical University-Colorado Springs

Colorado Springs, CO

In-State Tuition:$12,036
Out-of-State Tuition:$12,036
Admission Rate:N/A
Graduation Rate:20%
Total Enrollment:24,808
#5Maricopa County

Grand Canyon University

Phoenix, AZ

In-State Tuition:$16,407
Out-of-State Tuition:$16,407
Admission Rate:78%
Graduation Rate:45%
Total Enrollment:101,816
#6Lynchburg City

Liberty University

Lynchburg, VA

In-State Tuition:$15,467
Out-of-State Tuition:$15,467
Admission Rate:99%
Graduation Rate:66%
Total Enrollment:96,709
Demand Planning and Forecasting Manager Job Description:
  • Direct or coordinate production, purchasing, warehousing, distribution, or financial forecasting services or activities to limit costs and improve accuracy, customer service, or safety.
  • Examine existing procedures or opportunities for streamlining activities to meet product distribution needs.
  • Direct the movement, storage, or processing of inventory.

Demand Planning and Forecasting Manager Required Skills and Competencies in Alaska

  • Analytical Skills: You must possess strong analytical abilities to interpret complex data sets. This includes understanding statistical methods and being able to apply them to forecast future demand accurately.

  • Attention to Detail: Attention to detail is vital in demand planning. You will need to identify trends and anomalies in data that could impact supply chain efficiency.

  • Problem-Solving Skills: The ability to analyze problems, think critically, and propose effective solutions is essential. This often involves addressing unexpected changes in demand or supply chain disruptions.

  • Communication Skills: You should be able to communicate effectively with various stakeholders, including suppliers, sales teams, and executive management. Clear communication ensures alignment and helps facilitate decision-making processes.

  • Technical Proficiency: Familiarity with demand planning software and tools is important. Being adept in Excel, ERP systems, and advanced forecasting tools will enhance your ability to manage data and generate insights.

  • Project Management: Skills in project management are necessary to juggle multiple initiatives, manage timelines, and ensure that demand planning objectives align with overall business goals.

  • Collaboration and Teamwork: You must work well in a team environment, collaborating with cross-functional teams including marketing, sales, and operations to drive overall business effectiveness.

  • Business Acumen: A strong understanding of business operations, market trends, and customer behavior will help you make informed decisions that align with the organization's strategic goals.

  • Adaptability: The ability to adapt to changing market conditions and adjust forecasts accordingly is key. Being open to change and learning new methods will enhance your effectiveness.

  • Time Management: You should exhibit excellent time management skills to prioritize tasks, especially in high-pressure environments with tight deadlines.

  • Forecasting Techniques: Familiarity with various forecasting techniques and models, such as quantitative and qualitative methods, is essential in producing accurate demand forecasts.

  • Negotiation Skills: Strong negotiation skills can help you work effectively with suppliers and internal teams to optimize inventory levels and enhance supply chain relations.

Job Market and Opportunities for Demand Planning and Forecasting Manager in Alaska

The job market for Demand Planning and Forecasting Managers in Alaska is evolving, with various factors influencing demand and growth potential across different industries.

  • Current Demand: Companies in the retail, manufacturing, and logistics sectors are increasingly recognizing the importance of effective demand planning and forecasting to optimize their operations. The growing complexity of supply chains in Alaska, coupled with the need for businesses to adapt to fluctuating consumer demands, has led to an increased demand for qualified professionals in this field.

  • Growth Potential: The demand planning and forecasting function plays a crucial role in enhancing operational efficiency, which many organizations are prioritizing. As businesses seek to implement better inventory management and forecasting tools, opportunities for Demand Planning and Forecasting Managers are likely to grow. Expect job openings to expand within industries that are projected to experience overall growth, such as:

    • E-commerce: With online shopping trends on the rise, there are numerous opportunities for specialists to help manage logistics and forecast demand effectively.

    • Healthcare: As healthcare providers focus on improving patient care through efficient inventory management, demand planning roles in this sector are likely to increase.

    • Natural Resources: Alaska's rich resources drive demand in sectors such as oil and gas, mining, and fisheries, each requiring sophisticated forecasting methods to align supply with market demands.

  • Geographical Hotspots: Several regions within Alaska are emerging as key areas for demand planning and forecasting roles. The most notable include:

    • Anchorage: As the largest city and economic hub, Anchorage hosts a variety of businesses seeking demand planning expertise, particularly in retail and logistics.

    • Fairbanks: With a strategic location and growing commercial sector, Fairbanks presents opportunities in mixed industries including government contracts and local distribution.

    • Juneau: The capital city offers potential roles tied to government-related opportunities, where demand planning can support public service efficiencies.

In summary, the job market for Demand Planning and Forecasting Managers in Alaska reflects a growing need for effective supply chain management across diverse industries, bolstered by the unique challenges and opportunities that the Alaskan economy presents.

Top Related Careers to Demand Planning and Forecasting Manager 2024

Logistics Operations Manager
Inventory Control Director
Procurement and Supply Chain Director
Warehouse and Distribution Manager

Additional Resources To Help You Become a Demand Planning and Forecasting Manager in Alaska

  • APICS (Association for Supply Chain Management)
    Explore certifications and educational programs relevant to demand planning and supply chain management.
    APICS

  • Institute for Supply Management (ISM)
    Gain insights on the latest trends and best practices in supply chain and demand planning.
    ISM

  • Council of Supply Chain Management Professionals (CSCMP)
    Access articles, research reports, and networking opportunities tailored to supply chain professionals.
    CSCMP

  • American Production and Inventory Control Society (APICS)
    Familiarize yourself with resources related to production and inventory control.
    APICS Education

  • Supply Chain and Operations Management Resource Center
    Find a wealth of educational materials and tools for enhancing your skills in demand planning.
    Supply Chain and Operations Management

  • Demand Driven Institute
    Obtain knowledge on demand-driven methodologies that can transform how you forecast and plan.
    Demand Driven Institute

  • LinkedIn Learning
    Enroll in courses focused on supply chain management, demand forecasting, and inventory management.
    LinkedIn Learning

  • Harvard Business Review
    Read articles and research papers that delve into effective management practices and strategies in demand forecasting.
    Harvard Business Review

  • National Institute of Standards and Technology (NIST)
    Explore standards and guidelines that can improve your demand planning processes.
    NIST

  • Books on Demand Planning and Forecasting
    Consider these titles to deepen your understanding:

    • "Demand Planning and Inventory Control" by Richard T. Whaley
    • "Sales Forecasting for Dummies" by Linda Hayes
    • "The Definitive Guide to Demand Planning" by Chris Gormley

These resources will equip you with the knowledge and tools required to excel in your role as a Demand Planning and Forecasting Manager.

Frequently Asked Questions (FAQs) About Demand Planning and Forecasting Manager in Alaska

  • What is the role of a Demand Planning and Forecasting Manager?
    A Demand Planning and Forecasting Manager is responsible for predicting future product demand to ensure that inventory levels align with customer needs. This role involves analyzing market trends, historical sales data, and other relevant information to create accurate forecasts.

  • What skills are essential for becoming a Demand Planning and Forecasting Manager?
    Essential skills include strong analytical abilities, proficiency in data analysis software (such as Excel and forecasting tools), excellent communication skills, and a solid understanding of supply chain management. You should also possess critical thinking skills to make informed decisions based on forecasting data.

  • What educational background is typically required for this position?
    Most Demand Planning and Forecasting Managers hold a bachelor’s degree in business, supply chain management, logistics, or a related field. Some roles may require a master’s degree or specialized certifications in supply chain management or forecasting methodologies.

  • What industries hire Demand Planning and Forecasting Managers in Alaska?
    In Alaska, industries such as retail, manufacturing, oil and gas, and food distribution commonly employ Demand Planning and Forecasting Managers. Each of these sectors relies on accurate demand forecasting to optimize inventory and operations.

  • What are the career advancement opportunities in this field?
    As you gain experience, you may advance to roles such as Supply Chain Director, Operations Manager, or even Chief Operations Officer (COO). Continuous development of your skills and knowledge in supply chain strategies can further open opportunities for leadership positions.

  • What tools and technologies are commonly used in demand planning?
    Demand Planning and Forecasting Managers often use software such as SAP, Oracle, or specific forecasting tools like Demand Solutions and Kinaxis RapidResponse. Familiarity with statistical analysis programs and data visualization tools can also be beneficial.

  • How do you stay updated with trends in demand planning?
    Staying informed can involve attending industry conferences, participating in professional organizations, and engaging with relevant literature such as journals and articles in supply chain and operations management.

  • What challenges might I face in this role?
    Common challenges include managing unpredictable changes in demand, integrating new technologies into existing systems, and ensuring effective communication between departments. Adapting to these challenges can help improve forecasting accuracy and enhance overall performance.

  • Is remote work an option for Demand Planning and Forecasting Managers?
    Remote work availability can vary by employer. Some companies offer flexible arrangements, while others may require a physical presence to collaborate closely with teams and stakeholders.

  • What is the job outlook for Demand Planning and Forecasting Managers in Alaska?
    The job outlook in Alaska and across the U.S. is generally positive, as companies increasingly recognize the importance of effective demand forecasting in optimizing their supply chains. As businesses grow and evolve, the demand for skilled professionals in this area is expected to remain strong.