Demand Planning and Forecasting Manager in Minnesota Career Overview

As a Demand Planning and Forecasting Manager, your primary responsibility involves ensuring that a company can meet customer demand efficiently while minimizing excess inventory and waste. This role plays a vital part in logistics, operations, and overall business strategy, influencing various departments from supply chain management to sales and finance.

Key aspects of this role include:

  • Data Analysis: You will analyze historical sales data, market trends, and consumer behavior to develop accurate forecasts that help guide production planning and inventory management.

  • Collaboration: You will work closely with multiple departments such as sales, marketing, and supply chain to gather insights and align demand forecasts with business strategies.

  • Decision-Making: Utilizing advanced analytics and forecasting tools, you will make informed decisions that impact purchasing, production schedules, and resource allocation.

  • Performance Monitoring: You will track performance metrics to assess the accuracy of forecasts and make adjustments as needed to improve future predictions.

  • Innovation: Staying updated with industry trends and emerging technologies is essential as you implement new methodologies and tools to enhance forecasting accuracy and efficiency.

The role is increasingly important in today's fast-paced business environment, where effective demand forecasting can lead to improved customer satisfaction, reduced costs, and better inventory turnover. Your expertise can greatly influence a company’s ability to respond to market changes and consumer needs swiftly.

Demand Planning and Forecasting Manager Salary in Minnesota

Annual Median: $111,570
Hourly Median: $53.64

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 Minnesota

To become a Demand Planning and Forecasting Manager, you will need to acquire specific educational qualifications and training. The following college degree programs are highly relevant for this career path:

  • Business Administration and Management

    • This program provides a broad understanding of business operations, management principles, and strategic decision-making.

  • Business Analytics

    • This degree focuses on data analysis and predictive modeling, which are essential for effective demand forecasting and decision-making.

  • Supply Chain Management

    • A program in supply chain management covers logistics, inventory control, and the flow of goods, all of which are vital for demand planning.

  • Operations Management and Supervision

    • This field of study emphasizes the efficiency of production and operational processes, equipping you with the tools to manage demand effectively.

  • Applied Statistics

    • A degree in applied statistics is beneficial for understanding data, trends, and statistical methodologies that underpin forecasting techniques.

In addition to obtaining a relevant degree, gaining experience through internships or entry-level positions in related fields can further enhance your qualifications. Consider pursuing certifications or additional courses in forecasting and demand planning to bolster your expertise in this area.

Best Schools to become a Demand Planning and Forecasting Manager in Minnesota 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 Minnesota

  • Analytical Skills: You need the ability to analyze complex data sets and interpret trends to inform demand forecasts accurately.

  • Statistical Knowledge: Proficiency in statistical methods and forecasting techniques is essential for developing accurate predictions.

  • Attention to Detail: Accuracy is vital in demand planning. You must ensure that all data and forecasts are scrutinized for errors.

  • Communication Skills: You should excel in verbal and written communication to convey forecasts and insights to stakeholders clearly.

  • Collaborative Mindset: Being able to work effectively with cross-functional teams, including sales, marketing, and supply chain, is important for aligning demand with business strategy.

  • Problem-Solving Skills: You must be equipped to identify issues within the supply chain and propose actionable solutions.

  • Technical Proficiency: Familiarity with demand planning software and tools is necessary to facilitate data manipulation and forecasting processes.

  • Time Management: You should be capable of managing multiple tasks and priorities efficiently to meet deadlines.

  • Economic Acumen: Understanding market influences and economic conditions that affect demand will help you make informed forecasting decisions.

  • Leadership Skills: You will benefit from strong leadership abilities to guide teams through the planning process and implement strategies effectively.

  • Adaptability: The ability to adjust forecasts based on changing market conditions and internal shifts is key to maintaining accuracy.

  • Customer Focus: You should always keep customer needs in mind to ensure that demand planning aligns with market expectations and service levels.

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

The job market for Demand Planning and Forecasting Managers in Minnesota is characterized by a steady demand reflective of the growing importance of data-driven decision-making in various industries. Here are some key aspects to consider:

  • Industry Demand: Numerous sectors highly value professionals with expertise in demand planning and forecasting, particularly in retail, manufacturing, logistics, and supply chain management. Companies are increasingly focusing on optimizing inventory levels and enhancing customer satisfaction, thereby elevating the role of Demand Planning and Forecasting Managers.

  • Growth Potential: As businesses continue to recognize the significance of accurate forecasting in maintaining a competitive edge, the demand for skilled professionals in this field is expected to grow. Organizations are investing in advanced technologies and analytical tools, prompting a need for managers who can effectively interpret data and guide strategic initiatives.

  • Geographical Hotspots:

    • Twin Cities Metropolitan Area: Minneapolis and St. Paul serve as the primary hubs for demand planning opportunities, with a concentration of companies across retail, healthcare, and technology sectors.
    • Rochester: Known for its healthcare industry, particularly with organizations like Mayo Clinic, Rochester presents robust opportunities for demand planning roles focused on health products and services.
    • Duluth: With its growing logistics and distribution sectors supported by proximity to Lake Superior shipping routes, Duluth offers unique opportunities, especially for those interested in supply chain dynamics.
    • Greater Minnesota: Emerging industries in agribusiness, manufacturing, and renewable energy across various regions in Greater Minnesota are creating new roles in demand planning and forecasting.

  • Emerging Trends: There is a shift toward integrating artificial intelligence and machine learning into demand planning processes. This trend is likely to encourage companies to seek professionals who can leverage these technologies for improved forecasting accuracy and efficiency.

Overall, the combination of steady demand, growth potential, and diverse geographical hotspots makes Minnesota an attractive state for pursuing a career as a Demand Planning and Forecasting Manager.

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 Minnesota

  • Institute of Business Forecasting & Planning (IBF)
    A leading organization in the field of forecasting and planning, providing training, certification, and resources for professionals.
    Visit IBF

  • APICS (now part of ASCM)
    The Association for Supply Chain Management offers certifications and resources related to supply chain management, including demand planning and forecasting.
    Visit APICS

  • Council of Supply Chain Management Professionals (CSCMP)
    This organization provides research, networking opportunities, and industry best practices focused on supply chain management which includes demand forecasting.
    Visit CSCMP

  • The Demand Planning Institute (DPI)
    DPI provides insights, research, and best practices specifically tailored to demand planning professionals.
    Visit DPI

  • Supply Chain Management Review
    A publication that offers articles, case studies, and insights on current issues impacting supply chain management and demand forecasting.
    Visit Supply Chain Management Review

  • LinkedIn Learning
    Offers a range of courses on demand planning and forecasting, supply chain management, and analytics that can help enhance your skills.
    Visit LinkedIn Learning

  • American Production and Inventory Control Society (APICS)
    Provides education and certification in production and inventory control management. Great resource for learning about demand forecasting techniques and principles.
    Visit APICS

  • Forecasting & Planning Section of INFORMS
    Offers resources and networking opportunities for professionals interested in forecasting within the field of operations research.
    Visit INFORMS

  • Books

    • "Sales and Operations Planning: The How-To Handbook" by Thomas F. McCarthy
      A practical guide that explains the S&OP process and its significance in demand planning.
    • "Demand-Driven Forecasting: A Structured Approach to Forecasting" by Barry S. Schwartz
      This book provides insights into demand-driven approaches and practical applications in forecasting.

By utilizing these resources, you can enhance your knowledge and skills in demand planning and forecasting, keeping you informed about the latest trends and best practices in the industry.

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

  • What is the primary role of a Demand Planning and Forecasting Manager?
    Your main responsibility is to analyze market trends and sales data to produce accurate forecasts. This involves collaborating with various departments, like sales and inventory management, to align demand with supply effectively.

  • What qualifications are necessary for this position?
    Typically, a bachelor's degree in supply chain management, business, finance, or a related field is required. Advanced degrees or certifications in supply chain management or demand planning can enhance your qualifications.

  • What skills are essential for a successful Demand Planning and Forecasting Manager?
    You should possess strong analytical skills, proficiency in data analysis tools, excellent communication abilities, and project management skills. Familiarity with statistical forecasting methods is also highly beneficial.

  • What tools or software are commonly used in demand planning and forecasting?
    Commonly used tools include advanced Excel features, ERP systems (like SAP or Oracle), demand planning software (such as Kinaxis or JDA), and data visualization tools (like Tableau). Being adept in these tools is advantageous.

  • Is experience in supply chain management necessary?
    Yes, prior experience in supply chain management or a related field is usually preferred. This experience helps you understand the complexities of inventory management and logistics.

  • What industries typically employ Demand Planning and Forecasting Managers?
    You can find opportunities in various industries, including manufacturing, retail, consumer goods, and pharmaceuticals. These sectors require precise demand forecasting to optimize inventory management and meet customer needs.

  • What are the typical career advancement opportunities in this field?
    With experience, you can progress into senior management roles, such as Director of Supply Chain or Chief Operating Officer (COO). Opportunities to specialize in areas like supply chain strategy or operations management are also possible.

  • How do I stay updated with the latest trends in demand planning and forecasting?
    You can join industry associations, attend workshops or conferences, subscribe to relevant publications, and participate in online forums and webinars. Networking with other professionals can provide valuable insights as well.

  • What is the salary range for a Demand Planning and Forecasting Manager in Minnesota?
    Salaries can vary based on experience and industry, but the typical range is between $80,000 and $120,000 per year. Larger companies or those in high-demand sectors may offer higher compensation.

  • What challenges might I face in this role?
    You may encounter challenges such as dealing with unpredictable market changes, balancing stakeholder expectations, and integrating data from various sources. Developing strong problem-solving skills will help you manage these challenges effectively.

  • What is the work environment like for Demand Planning and Forecasting Managers?
    You can expect to work in an office setting, often collaborating with teams across various departments. The role may involve a mixture of routine tasks and project-based work, requiring both independent and collaborative efforts.

  • Are there networking opportunities specifically for this career path?
    Yes, consider joining professional organizations such as the Institute for Supply Management (ISM) or the Council of Supply Chain Management Professionals (CSCMP). These organizations often host networking events, mentorship programs, and seminars tailored to demand planning professionals.