Demand Planning and Forecasting Manager in Tennessee Career Overview

As a Demand Planning and Forecasting Manager, you play a vital role in ensuring that an organization effectively meets customer demand while minimizing costs and maximizing efficiency. Your responsibilities encompass a variety of tasks that contribute to the overall supply chain management process. Here are key aspects of the role:

  • Forecasting Demand: You analyze historical data, market trends, and consumer behavior to predict future product demand. This helps to ensure that the right amount of inventory is available at the right time.

  • Collaborative Coordination: You work closely with various departments, such as sales, marketing, production, and supply chain, to align demand forecasts with business objectives. This collaboration is essential for creating strategies that respond to market changes.

  • Inventory Management: Your role involves monitoring inventory levels to minimize excess stock or stockouts. By balancing supply and demand, you help maintain operational efficiency and customer satisfaction.

  • Data Analysis: You leverage various analytical tools and software to process complex datasets. This allows you to provide actionable insights that guide decision-making regarding inventory stocking, production planning, and resource allocation.

  • Strategy Development: You contribute to the development of demand planning strategies that enhance the overall responsiveness of the supply chain. This may involve adjusting forecasting methods or implementing new technologies.

  • Performance Metrics: You establish and track key performance indicators (KPIs) to measure the effectiveness of demand planning efforts. Continuous monitoring helps to identify areas for improvement.

In summary, as a Demand Planning and Forecasting Manager, your role is essential to streamlining supply chain operations, reducing costs, and enhancing customer satisfaction, all of which are key to driving the success of an organization in a competitive marketplace.

Demand Planning and Forecasting Manager Salary in Tennessee

Annual Median: $91,380
Hourly Median: $43.93

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 Tennessee

To pursue a career as a Demand Planning and Forecasting Manager, you will generally need the following educational qualifications and training:

  • Bachelor's Degree: A foundational requirement is typically a bachelor's degree in one of the following fields:

    • Business Administration and Management: This program provides a broad understanding of business principles, equipping you with knowledge relevant to managing operations, strategy, and organizational behavior.
    • Business Analytics: This degree focuses on using data analytics and statistical methods to make informed business decisions, which is essential for effective demand forecasting.
    • Supply Chain Management: A specialized degree in this area covers the complexities of supply chain processes and logistics, critical for managing inventory and demand forecasting.
    • Operations Management and Supervision: A program in operations management emphasizes efficiency and optimization of processes, which is vital in demand planning roles.
    • Applied Statistics: Through this degree, you'll gain a strong background in statistical techniques and data analysis, which are crucial in forecasting demand accurately.

  • Master's Degree (optional): While not always required, obtaining a master's degree such as an MBA with a focus on Supply Chain Management or Business Analytics can enhance your qualifications and may lead to more advanced positions.

  • Certifications (optional): Pursuing relevant certifications can provide additional expertise and credibility in the field. Consider certifications like Certified in Production and Inventory Management (CPIM) or Certified Supply Chain Professional (CSCP) to supplement your education.

These educational paths and training programs will equip you with the essential knowledge and tools needed to excel in a Demand Planning and Forecasting Manager role.

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

  • Analytical Skills: You must excel in analyzing complex data sets, identifying trends, and deriving insights to inform demand forecasts and inventory management strategies.

  • Technical Proficiency: Familiarity with demand planning software, statistical analysis tools, and databases is essential. You should also be comfortable using Excel for data manipulation and reporting.

  • Forecasting Techniques: Knowledge of various forecasting methods, such as quantitative and qualitative techniques, will enable you to choose the most appropriate approach for different scenarios.

  • Communication Skills: Strong written and verbal communication skills are vital for collaborating with cross-functional teams, presenting data findings, and conveying demand plans to stakeholders.

  • Problem-Solving Abilities: You need to be adept at identifying issues in supply chains and inventory systems and developing effective solutions to mitigate disruptions.

  • Project Management: You should possess project management skills to oversee forecasting projects, timelines, and deliverables while coordinating with various departments.

  • Attention to Detail: Precision in data analysis and forecasting is critical. A keen eye for detail helps ensure that your forecasts are accurate and reliable.

  • Interpersonal Skills: Building relationships with suppliers, sales teams, and other stakeholders is important for gathering input and reaching consensus on demand forecasts.

  • Adaptability: The ability to adjust forecasts in response to market changes, new information, or unexpected events is essential for maintaining accuracy in your planning efforts.

  • Strategic Thinking: You must be able to align demand planning with broader business objectives and contribute to overall strategy development by anticipating market trends and customer needs.

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

The job market for Demand Planning and Forecasting Managers in Tennessee presents several promising trends and opportunities. As businesses increasingly emphasize efficiency and strategic decision-making, the demand for skilled professionals in this role has notably increased.

  • Growing Demand: Organizations in sectors such as manufacturing, retail, and logistics are actively seeking Demand Planning and Forecasting Managers. This growth can be attributed to the need for data-driven strategies that optimize inventory, enhance customer satisfaction, and streamline operational costs.

  • Growth Potential: The industry demonstrates robust growth potential, with reports indicating a positive trajectory over the next several years. As technological advancements and analytics tools become more prevalent, companies are re-evaluating their supply chain strategies, leading to an increased need for professionals equipped to forecast demand accurately.

  • Geographical Hotspots:

    • Nashville: As a growing urban center with a diverse economic base, Nashville is a significant hub for retail and transportation logistics, offering numerous opportunities in demand planning and forecasting.
    • Memphis: Known for its logistics and distribution sector, Memphis is home to major companies that require skilled managers to oversee demand forecasting. The presence of FedEx and other logistics firms creates a vibrant job market.
    • Knoxville: With a strong manufacturing presence, Knoxville provides opportunities in industries that depend on effective demand planning to meet production schedules and customer needs.
    • Chattanooga: The city is increasingly recognized for its innovation-driven economy. As businesses look to improve their logistics and supply chain operations, Chattanooga is poised for growth in demand planning roles.

  • Industry Diversity: The demand for Demand Planning and Forecasting Managers spans various industries, including:

    • Retail (both brick-and-mortar and e-commerce)
    • Manufacturing
    • Food and beverage
    • Healthcare
    • Automotive

As you navigate your career path, the expanding job market in Tennessee for Demand Planning and Forecasting Managers indicates not only a high demand for your skills but also the potential for career advancement in a supportive and evolving industry landscape.

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 Tennessee

  • APICS (Association for Supply Chain Management)
    A global leader in supply chain education and certification. They offer resources related to demand planning, inventory management, and operations management.
    Visit APICS

  • Institute for Supply Management (ISM)
    This organization provides a wealth of research, training, and education in supply chain management and procurement, which are essential for demand planning.
    Visit ISM

  • Council of Supply Chain Management Professionals (CSCMP)
    Offers resources and networking opportunities relevant to supply chain practitioners, with materials that cover demand forecasting techniques and trends.
    Visit CSCMP

  • The Demand Planning Benchmark Survey
    An annual survey published by the Supply Chain Insights that provides insights and best practices for demand planning and forecasting.
    Visit Supply Chain Insights

  • IBM Watson Supply Chain
    A resource on advanced technologies, including AI and machine learning in demand forecasting and planning.
    Visit IBM Watson Supply Chain

  • Foresight: The Demand Planning Blog
    A blog that discusses industry best practices, trends, and innovative strategies in demand planning and forecasting.
    Visit Foresight Blog

  • Journal of Business Logistics
    An academic journal that publishes research articles on logistics and supply chain management, including demand forecasting.
    Visit Journal of Business Logistics

  • LinkedIn Learning - Courses on Demand Planning
    Online courses that cover key concepts and tools for demand planning and forecasting. Membership provides access to a variety of related learning materials.
    Visit LinkedIn Learning

  • SCM Talent Group
    A recruitment firm that specializes in supply chain and logistics. They offer industry insights and resources for career advancement in demand planning.
    Visit SCM Talent Group

  • Books

    • "Demand-Driven Forecasting: A Structured Approach to Forecasting" by Charles W. Chase Jr.
    • "Sales and Operations Planning: The Executive’s Guide" by Tom Wall.
      Both books offer in-depth knowledge and practical insights into effective demand planning strategies.

Utilize these resources to enhance your knowledge and network within the field of demand planning and forecasting.

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

  • What are the primary responsibilities of a Demand Planning and Forecasting Manager?
    As a Demand Planning and Forecasting Manager, your main responsibilities include analyzing sales data, developing demand forecasts, collaborating with cross-functional teams, managing inventory levels, and ensuring that supply meets customer demand efficiently.

  • What skills are essential for this role?
    Essential skills include strong analytical capabilities, proficiency in forecasting software, excellent communication abilities, attention to detail, and teamwork skills. Experience with data analysis and statistical modeling will also be beneficial.

  • What kind of educational background do I need?
    Most positions require a bachelor's degree in supply chain management, business administration, statistics, or a related field. Many employers prefer candidates with a master's degree or relevant certifications in demand planning or logistics.

  • What industries commonly hire Demand Planning and Forecasting Managers?
    You can find opportunities in various industries such as retail, manufacturing, logistics, and consumer goods. Any industry that relies on inventory management and sales forecasting will require professionals in this role.

  • Is experience in supply chain management necessary for this position?
    While not always mandatory, experience in supply chain management can be highly advantageous. It provides a solid understanding of logistics, inventory control, and overall supply chain operations.

  • What tools and software should I be familiar with?
    Familiarity with demand planning and forecasting software such as SAP, Oracle, or specialized tools like Forecast Pro and Kinaxis is important. Proficiency in Excel for data analysis and visualization is also critical.

  • What certifications can enhance my qualifications?
    Certifications such as Certified Supply Chain Professional (CSCP), Certified in Planning and Inventory Management (CPIM), or the Demand Driven Institute’s certifications can enhance your qualifications and demonstrate expertise in the field.

  • What are the job prospects for this career in Tennessee?
    The job outlook for Demand Planning and Forecasting Managers in Tennessee is generally positive due to the growing need for businesses to manage their supply chains efficiently. Increased reliance on data-driven decision-making also contributes to demand for this position.

  • How does one progress in a career as a Demand Planning and Forecasting Manager?
    Progression typically involves gaining experience, taking on larger responsibilities, managing teams, and possibly moving into higher strategic roles such as Director of Supply Chain or Chief Operations Officer.

  • What is the average salary for Demand Planning and Forecasting Managers in Tennessee?
    Salaries can vary based on factors such as experience, industry, and company size. On average, you can expect a salary in the range of $80,000 to $120,000 annually in Tennessee.

  • What challenges might I face in this role?
    Challenges may include dealing with unpredictable market changes, balancing supply and demand fluctuations, managing stakeholder expectations, and incorporating complex data into forecasting models.