WHAT DOES A FORECAST ANALYST DO?

Published: Apr 01, 2025 - The Forecast Analyst collaborates with Forrester research teams to deliver modeling and forecasting analyses, enhancing research products and publishing high-quality research content for global executives. This position engages in interviews with marketing and strategy executives from prominent brands and service firms, developing operational forecasts in conjunction with Sales Account Managers using SAP for predictive sales volumes. This role manages research production operations smoothly, presents findings to various stakeholders, and ensures accurate communication and resolution of forecast issues with factory and promotional teams.

A Review of Professional Skills and Functions for Forecast Analyst

1. Forecast Analyst Duties

  • Reporting Tool Development: Supports Merchandise Planning and Allocation team through building and maintaining key business reporting tools.
  • Data Organization: Leverage programming skillset to organize large amounts of data and provide optimized and efficient analytical tools for business users (or group of business users).
  • Multi-channel Reporting: Responsible for creating and maintaining multi-channel reporting at Sub Brand/Sub Class level.
  • Analytical Support: Support Central Planning Manager with ad hoc analysis & provide recommendations.
  • Promotional Analysis: Analyze, summarize, and communicate results of promos by channel & segment using Excel and PowerPoint.
  • Cross-functional Exposure: Role provides cross-functional department exposure and opportunity to communicate recommendations to leadership.
  • High-paced Environment Adaptability: Work in a fast-paced environment.
  • Reporting Automation: Develop, test, document, implement & automate reporting solutions.

2. Forecast Analyst Details

  • Report Management: Manage, create, update, and monitor reports on a weekly basis, ensuring all item projections are up to date.
  • Forecast Management: Manage item forecast by designated customer base weekly, monthly, and yearly.
  • Partner Collaboration: Collaborate weekly with channel business partners to align on current performance results and forward item projections by customer account.
  • Replenishment Monitoring: Ensure proper weekly replenishment orders are in the pipeline at all times.
  • Receipt Flow Management: Works on weekly receipt flow recap to ensure Zenith meets customer requested ship dates.
  • Promotional Monitoring: Monitor promotional results, and make necessary adjustments to coverage and achieve forward forecast projections.
  • Stock Analysis: Review weekly and provide analysis for anything below required WOS and safety stock targets.
  • Inventory Management: Meeting with channel management to review current week’s business and address any inventory opportunities as they relate to in-stocks, cuts, vendor fill rates %, and potential missed sales opportunities by customer.
  • Forecast Discussion: Meet with Channel team on a weekly basis to discuss POS and shipment forecasts.
  • Forecast Recommendation: Recommend forecast changes based on POS trend and follow up accordingly.

3. Forecast Analyst Responsibilities

  • Strategic Meetings: Meet with Replenishment Planner (monthly) and Business Analyst / Buyers on a quarterly basis to discuss POS projections by item and identify any inventory shortfalls / POS opportunities going forward.
  • Liaison Role: Act as liaison between customer, Maytex Global, and logistics departments to ensure smooth flow of inventory.
  • Inventory Communication: Communicate any purchase order or inventory flow issues to globally to request expedites and follow up accordingly.
  • Forecasting Techniques: Utilize knowledge of statistical forecasting techniques including time series, linear regression and execute forecasting processes that include model calibration.
  • Inventory Monitoring: Monitor weekly sell-through and customer inventory levels for new items for assigned forecast customers.
  • Inventory Management: Review inventory requirements to ensure optimal stock levels are maintained during the product launch cycle.
  • Order Management: Manage order placement process and execution by item including finished goods as well as components using a just-in-time methodology.
  • Performance Measurement Development: Develop key performance measures and benchmarks to help control procurement processes that include recurring metric reports to drive improvement for production planning.
  • Customer Account Management: Responsible for identifying and developing specific customer account metrics that optimize profit and assortment performance and managing PLM process by category and item.
  • Channel Influence: Influence Channel partners through analytical review and recommend assortment opportunities.

4. Forecast Analyst Job Summary

  • Research Collaboration: Work with Forrester research teams in providing modeling and forecasting analyses that support and drive research products.
  • Executive Interviews: Interview marketing and strategy executives who lead global brands and professional services companies.
  • Content Development: Develops high-quality research content published and presented to executives and teams.
  • Client Inquiry Response: Provide inquiry responses to queries placed by Forrester’s clients.
  • Presentation Skills: Present findings internally, at events, and to clients.
  • Research Operations Management: Ensure smooth research production operations.
  • Statistical Forecasting: Using a statistical forecast package (SAP) to manage and communicate the expected sales volumes.
  • Forecast Collaboration: Working with the relevant Sales Account Managers to create an operational forecast, verifying base and promotion volume assumptions.
  • Forecast Accuracy Management: Review, identify, and resolve key forecast accuracy issues.
  • Factory Communication: Communicate the forecast to the Factory teams & work with them to resolve specific forecast and/or capacity issues.
  • Promotional Volume Management: Review, approve & maintain promotional volumes.

5. Forecast Analyst Accountabilities

  • System Maintenance: Maintain the Forecasting & Replenishment system for all products within assigned departments.
  • Reporting Provision: Provide key reporting to Inventory Management, Merchandising, Logistics, and Senior Management.
  • Inventory Health Maintenance: Maintain overall inventory health of the replenishment and forecasting business unit including in-stock, service level, and inventory turns.
  • Team Leadership: Provide coaching, guidance, training, and oversight of the replenishment and forecasting business unit.
  • Data Analysis: Review & analyze historical data and trends to forecast the demand of import and domestic goods held at the Store/Distribution Centres.
  • Sales Monitoring: Monitor recent sales performance and adjust forward forecasts at appropriate time horizons.
  • KPI Tracking: Track Key Performance Indicators on a weekly, monthly, quarterly, and annual basis, including store/DC.
  • Forecast Management: Manage the Store and DC forecast parameters, replenishment parameters, and forecast exceptions.
  • Product Communication: Communicate product status and updates to stores and DC in a timely manner.
  • Merchant Collaboration: Liaise with Merchants to ensure execution of category S&OP processes (forecast validation).
  • Strategic Collaboration: Work closely with Merchants and Senior Management to achieve company objectives.