Job Summary
- To increase profitability for allocated product by conducting accurate and reliable forecasts, aligning inventory levels with identified demand, and improve income or revenue forecasts.
Key Duties/Responsibilities:
Forecasting
- Designing and generating weekly and monthly statistical forecast reports
- Continuously improving forecasting techniques, methods and approach to ensure they are aligned to company objectives
- Relating and measuring the impact of forecast accuracy
- Support and drive strategic project plans to successful launch innovative products.
- Weekly & Monthly demand on Demand Management System.
- Monthly consensus meeting with sales management.
- Communicate regularly with HQ & Manufacturing to identify supply issues and SFA
- Long Term forecasting, confirmation of kits with HQ for Local manufacturing.
Demand Planning Procedures and Processes
- Develop and maintain documentation and standard operating procedures for demand planning processes and systems.
- Conduct current and future forecasting analysis and ensuring forecasting processes and methods are followed.
- Assemble and analyze all data relevant to creating the sales forecast (historical sales, market trends, seasonality, promotions and inventory levels)
- Establish and utilize best methods to create forecasts and respective inventory targets.
Pricing
- Assist with the update and maintenance of monthly price lists (per currency)
- Communicate internally about pricing and on systems
- Maintain fixed pricing from PM
- Assist with pricing quotes, give information on foreign exchange conversions
Inventory Management
- Make recommended adjustments to forecast and inventory targets based on changes in demand and market trends.
- Communicate with HQ about the new product and facilitate the registration of SABS to get the certificate
- Review recommended sales forecasts and inventory goals focusing on new product introduction and make sure that stock is available for promotions.
- Monitor and support channel inventory (sell-in/sellout) basis
- Assist with monitoring of back orders
- Tracking PO’s & Direct Orders to ensure Business Plan, Moving Plan target is achieved, ultimate goal to maximize sales and reduce inventory costs
- Assist with information of Graded inventory
Product Management
- Review product data to ensure that sales staff is kept up to date on new developments regarding the companies
- Responsible for the issuing and control of all sample products
- Give input to HQ about new product and will give us new pricing for the product
- Gap analysis to understand non achievements for Sales Forecasting accuracy and address with Sales Management Team.
- Present at S&OP meeting to top management (Pending Issues/ supply and production issues/ageing Inventory & action plans).
- Assist with Moving Plan sales allocations & backorders.
- Management of End of Life & New Product Information (Demand, Shipment and delays analysis).
- Manage DIO-Tracking and actions Plans-Local and Export
- Assist Product Manager with Ad Hoc duties as and when necessary
Reporting
- Prepare, report and communicate forecast and inventory measurements to all stake holders.
- Highlight key variances and change forecasts accordingly
- Progress report on forecast against set targets
- Basic admin (requesting approvals for product transfers, request price approvals ,listing documents, price queries internal and external, provide images and specifications, sample stock management, request approval for scrapping)