Business planner skills for your resume and career

A supply chain is a network or a sequence by which finished products of a company are distributed to retailers and then supplied to the end-users. The distribution of products and services from the production line to the final buyers is carried out in a series of steps including; manufacturing, transportation, and their distribution. The whole supply chain consists of different entities including; manufacturers, transportation, warehouses, suppliers, and retailers. The entities ensure that the products retain their originality while also minimizing the cost of delivery.

Market research is a collective effort to collect information related to a consumer's needs and wants. It is a systematic approach that involves recording and analysis of both qualitative and quantitative data. Market research helps a business to identify a target market correctly and identify the gaps in potential consumer's expectations.

Demand planning is the process of forecasting demand for a product or service and implementing an operational strategy throughout the supply chain to meet it. The goal is to find a balance between having enough inventory to meet customer needs without overstocking. Demand planners work in different departments of an organization to make sales forecasts, adjusting inventory levels to seasonal demand, materials planning, and procurement forecasts.

Product line is a collection of similar or related products that may be under a single brand manufactured by the same company. It may include different varieties of a specific product of a brand which comes in different categories. In other cases, the product line may differ in some characteristics despite being from the same manufacturer.

Business development is the ideas or initiatives that work to make business work better. Selling, advertising, product development, supply chain management, and vendor management are only a few of the divisions involved with it. There is still a lot of networking, negotiating, forming alliances, and trying to save money. The goals set for business development guide and coordinate with all of these various operations and sectors.

On-Time Delivery, or OTD, is a metric that measures the rate at which finished goods and deliveries are completed on time. This rate is measured by the overall number of units shipped within a specified time frame agreed upon by the consumer and supplier. On-Time Delivery allows suppliers' compliance with delivery deadlines, and hence their consistency, to be assessed using a continuous and collaborative development approach.