Profession forecast manager

Forecast managers have a deep understanding of the operations of the company, the inventory levels, production batches, requirements and costs of production per product, and trends in the demand levels. They use all that information in combination with forecasting software in order to define production orders aiming for the most efficient production combinations.

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Personality Type

  • Enterprising / Conventional

Knowledge

  • Supply chain principles

    Characteristics, operations and resources involved in moving a product or service from supplier to the customer.

  • Corporate social responsibility

    The handling or managing of business processes in a responsible and ethical manner considering the economic responsibility towards shareholders as equally important as the responsibility towards environmental and social stakeholders.

  • Financial forecasting

    The tool used in performing fiscal financial management to identify revenue trends and estimated financial conditions.

  • Supply chain management

    The flow of goods in the supply chain, movement and storage of raw materials, work-in-process inventory, and finished goods from point of origin to point of consumption.

  • Supplier management

    The methods and techniques to ensure that external services and configuration items, which are necessary for the service delivery, are available as requested and as agreed at the service level.

Skills

  • Analyse logistic changes

    Assess the financial impact of possible logistics changes such as shipping modes, product mixes or volumes, carriers and means of product transportation.

  • Assess supplier risks

    Evaluate supplier performance in order to assess which suppliers do or may not perform adequately, stick to the agreed contracts, meet the standard requirements and desired quality at all times or who may pose future risks.

  • Strive for company growth

    Develop strategies and plans aiming at achieving a sustained company growth, be the company self-owned or somebody else's. Strive with actions to increase revenues and positive cash flows.

  • Analyse supply chain strategies

    Examine an organisation's planning details of production, their expected output units, quality, quantity, cost, time available and labour requirements. Provide suggestions in order to improve products, service quality and reduce costs.

  • Estimate costs of required supplies

    Try to value the amounts and costs of required supplies such as of food items and ingredients.

  • Follow company standards

    Lead and manage according to the organisation's code of conduct.

  • Maintain relationship with suppliers

    Build a lasting and meaningful relationship with suppliers and service providers in order to establish a positive, profitable and enduring collaboration, co-operation and contract negotiation.

  • Analyse supply chain trends

    Analyse and make predictions about trends and evolutions in supply chain operations in relation to technology, efficiency systems, types of products shipped, and logistical requirements for shipments, in order to remain at the forefront of supply chain methodologies.

  • Analyse economic trends

    Analyse developments in national or international trade, business relations, banking, and developments in public finance and how these factors interact with one another in a given economic context.

  • Forecast production quantities

    Determine the most adequate production levels of products according to forecasts and analysis of historic consuming trends.

  • Identify suppliers

    Determine potential suppliers for further negotiation. Take into consideration aspects such as product quality, sustainability, local sourcing, seasonality and coverage of the area. Evaluate the likelihood of obtaining beneficial contracts and agreements with them.

  • Liaise with managers

    Liaise with managers of other departments ensuring effective service and communication, i.e. sales, planning, purchasing, trading, distribution and technical.

  • Analyse market financial trends

    Monitor and forecast the tendencies of a financial market to move in a particular direction over time.

  • Manage supplies

    Monitor and control the flow of supplies that includes the purchase, storage and movement of the required quality of raw materials, and also work-in-progress inventory. Manage supply chain activities and synchronise supply with demand of production and customer.

  • Maintain relationship with customers

    Build a lasting and meaningful relationship with customers in order to ensure satisfaction and fidelity by providing accurate and friendly advice and support, by delivering quality products and services and by supplying after-sales information and service.

  • Forecast future levels of business

    Predict how the business will perform in future, potential expenditures and revenues to project situations for future periods

  • Order supplies

    Command products from relevant suppliers to get convenient and profitable products to purchase.

  • Manage inventory

    Control product inventory in balance of availability and storage costs.

  • Forecast dividend trends

    Forecast the payouts corporations make to their shareholders in the long term, taking into account prior dividends, the corporation's financial health and stability, stock market trends, and shareholders' reactions to those trends.

Optional knowledge and skills

use sales forecasting softwares analyse logistic needs monitor ingredient storage manage standard enterprise resource planning system forecast sales over periods of time assist in planning production scheduling economics study sales levels of products manage logistics calculate purchasing levels of raw materials coordinate purchasing activities forecast products' demand statistics forecast economic trends