Demand Planner Career Path

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Demand Planner Career Path

Demand planners are responsible for managing inventory, production, and the supply chain. This is a high-stress job with lots of responsibility. It can be difficult to find demand planner jobs because they require so many different skills sets. Demand planners must have strong analytical abilities as well as knowledge in areas like business management, marketing strategy, HR management, financial analysis, and project management. Demand planners also need to know how to build relationships with suppliers and customers alike–as well as manage their own time effectively.

If you’re looking for an exciting career that will challenge you every day–and give you the opportunity to make a real impact on your company’s success–then this may just be the perfect field for you! Read on to find out more:

1. What is a Demand Planner?

Demand planners are responsible for making sure that a company has the right amount of materials and inventory to meet customer needs. They monitor current market trends as well as predict future demand to help drive organizational decisions. Without demand planners, companies would be flying blind–wasting money and resources on items no one is buying (or taking up space with products customers have no need for).

Demand planners accomplish this by using tools like market research analysis, sales forecasting, statistical modeling, and finance expertise. For example, demand planners may research future or historical trends in customer needs to estimate or predict future market conditions. Then they can use that information to make decisions on how much inventory is needed–and what suppliers are best able to provide it.

While demand planners can be found in any industry, they are especially helpful in fast-paced industries like technology, where new products are constantly being developed and customers’ needs are always changing.

2. What Does a Demand Panner Do?

Demand planners must monitor the market and sales data in order to determine if a company is meeting its supply needs. They must work with suppliers to ensure they can meet expected demand–as well as maintain good relationships with customers so that they trust the company to provide quality products and services.

Because of their business management, finance, and marketing experience, demand planners can also be put in charge of cross-functional teams or projects. Many demand planners have a background in the business world–so they know how to work effectively with others from different backgrounds to come up with solutions for complex problems.

Demand planners have a variety of responsibilities, including:

  • Creating forecasts based on current market trends and historical data;
  • Developing marketing strategies;
  • Coordinating logistics, ensuring effective communication with suppliers and customers;
  • They are creating reports about sales, inventory, and production. Demand planners must often communicate these reports to stakeholders in the company, like upper management or key buyers.
  • While demand planners can work on their own or in teams–depending on the size and structure of their company–they generally work in an office, making phone calls and sending out emails.

3. How Do You Become a Demand Planner?

Demand planners typically have a bachelor’s degree in business or project management. However, many employers will accept candidates with experience in one of these fields instead of a degree. While taking courses like marketing, economics, statistics, and accounting can be helpful, the most important thing is to demonstrate a thorough understanding of supply chain logistics.

In many cases, you’ll need at least two years of experience in either project management or supply-chain management/logistics before you can become a demand planner. In some cases–especially if your company doesn’t require a degree–you can become a demand planner with only one year of experience.

The more knowledge and experience you have, the more responsibility your company will give you. Suppose you have a degree and strong work history–as well as a detailed understanding of business strategies and market trends–your company may also entrust you with cross-functional projects or responsibilities that go beyond traditional demand planner duties.

Demand planners often rise through the ranks of their companies, beginning as an assistant or coordinator before advancing to a more senior position.

4. What Does a Demand Planner Earn?

The median salary for a demand planner is $61,000 per year. Demand planners with little experience can earn around $45,000, while those with at least five years’ experience can earn up to $100,000.

Demand planners typically earn annual bonuses of up to 10% of their base salary–which means that, in addition to their base salary, experienced demand planners can earn up to $122,000 per year.

5. Where are the Best Places for a Demand Planner?

Demand planners tend to work in cities across the United States–but they can especially be found in major cities like New York City and Chicago.

The top states in which demand planners live include New York, California, Illinois, Massachusetts, and Pennsylvania.

Demand planners can also find jobs in a variety of industries–including manufacturing, logistics distribution, and consulting.

6. What is the Outlook for This Career?

Between 2014 and 2024, employment growth for supply-chain managers is expected to be about 6%–which is about average for all occupations.

During that time, an estimated 30,000 new jobs for supply-chain managers will be created each year. However, the total number of available jobs is expected to decline as companies downsize their demand planners’ departments.

Demand planners should expect some job competition, thanks to a large number of qualified candidates–both experienced and inexperienced–who can fill the roles.

7. What Skills Do You Need to Become a Demand Planner?

Some of the skills you need to become a demand planner:

  • key abilities for demand planners include:
  • Attention to detail;
  • The ability to handle frequent decision-making;
  • Strong communication skills.

Demand planners typically must work with teams across the company, so they must be able to communicate effectively and concisely with people of various backgrounds and levels of responsibility.

Above all else, knowing how to communicate effectively and work with others is the most important skill you can possess as a demand planner. As discussed above, demand planners must know how to analyze supply and demand–but they must also be able to manage teams and solve problems collaboratively.

Demand planners typically rely on analytics, such as data analysis and statistical skills, when creating forecasts and assessing market trends.

Demand planners benefit from strong business skills, such as:

  • Financial knowledge;
  • Analytical skills;
  • Efficient time management and multi-tasking abilities;
  • Aptitude for numbers and detail orientation.

In addition to knowing how to analyze data, demand planners must be able to interpret the results of their analysis and extract meaning.

Strong business skills will help you understand not only what the data means but how to act on it.

8. What Kind of Companies Hire Demand Planners?

Demand planners tend to work for manufacturing and natural-resources companies but may also be employed in a variety of industries.

Some examples include:

  • Consulting firms;
  • Manufacturing companies; 
  • Logistics distribution companies;
  • Companies that manufacture natural resources, such as coal or lumber.

Demand planners can also work for consulting companies–such as those in the areas of finance, marketing, accounting, research, and security.

Typically demand planners are employed by larger companies with global operations–demand planners who find jobs at smaller companies tend to have less responsibility.

9. What is the Best Educational Path?

Demand planners typically require at least a bachelor’s degree. Many employers also require a master’s degree–some even require a Ph.D.

In addition to an educational background in business administration, demand planners can benefit from having a strong foundation in data analysis and statistics courses.

Demand planners may also have backgrounds in engineering or industrial-production strategy.

Demand planners then gain the necessary experience that will help them secure a job in the industry.

A master’s degree can be helpful for some advanced positions but is not necessarily required–in fact, many companies hire recent graduates or mid-career professionals with no formal education.

10. What are the Benefits of Being a Demand Planner?

  • Demand planners may have a competitive salary and benefits package.
  • Demand planners can sometimes work from home if their company allows it–which is helpful for those who have children or other family obligations.
  • It offers a stable position in an economy where many industries are unstable, especially manufacturing.
  • In addition to being stable employment opportunities, demand planner jobs can be high-paying–a demand planner position typically has a competitive salary.
  • Demand planners work for global companies, which can offer professional opportunities in multiple areas of business.

11. What are the Drawbacks to Being A Demand Planner?

  • Demand planners typically work long or irregular hours, especially when projects are underway or there is increased production activity.
  • Demand planners may also need to travel–in some cases, demand planners will be required to attend trade shows and conferences as well as visit clients.
  • Some companies hire part-time workers to fulfill less critical forecasting positions, which can offer flexibility for those who wish to balance home and work life. 

12. Top Recruiting Companies for A Demand Planner

Analytics and data-driven companies, such as:

  • Accenture;
  • KPMG;
  • PwC.  

Manufacturing companies, such as:

  • Ford Motor Company;
  • General Electric;
  • Ford Motor Company.  

Consulting firms, such as:

  • Deloitte & Touche;
  • Ernst & Young;
  • Deloitte.  

Logistics, such as:

  • FedEx;
  • UPS.  

12. Best Colleges to Study Demand Planning

Demand planners typically need at least a bachelor’s degree–those with master’s degrees are highly desirable.

Many of the best colleges to study demand planning offer undergraduate programs in business administration and related subjects, such as:

  • The University of Texas-Dallas;
  • Pennsylvania State University;
  • Michigan State University;
  • New York University;
  • The University of California-Berkeley;
  • University of Michigan;
  • Ohio State University; and
  • The University of Southern California
Pennsylvania State University

Conclusion

Demand Planner is an interesting and captivating career path. It offers a unique perspective on the inner workings of business and how to optimize products and services to meet consumer demand. If you are interested in pursuing a career as a Demand Planner, be sure to do your research and get experience in data analysis and forecasting. With hard work and dedication, you can reach your goal of becoming a successful Demand Planner.

About the author

Indu has been educator since last 10 years. She can find all kind of scholarship opportunities in the USA and beyond. She also teach college courses online to help students become better. She is one of the very rare scholarship administrator and her work is amazing.

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