Forecasting analyst vs buyer

The differences between forecasting analysts and buyers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a forecasting analyst, becoming a buyer takes usually requires More than 10 years. Additionally, a forecasting analyst has an average salary of $69,708, which is higher than the $54,049 average annual salary of a buyer.

The top three skills for a forecasting analyst include supply chain, SQL and data analysis. The most important skills for a buyer are purchase orders, customer service, and logistics.

Forecasting analyst vs buyer overview

	Forecasting Analyst	Buyer
Yearly salary	$69,708	$54,049
Hourly rate	$33.51	$25.99
Growth rate	19%	-
Number of jobs	31,811	23,589
Job satisfaction	-	5
Most common degree	Bachelor's Degree, 75%	Bachelor's Degree, 64%
Average age	37	47
Years of experience	6	-

What does a forecasting analyst do?

A forecasting analyst is responsible for predicting a business's future production and financial condition by analyzing the company's current data statistics. Forecasting analysts evaluate the company's sales performance, inventory levels, production speed, and turnaround time of deliverables. They also study the latest industry trends, identifying business opportunities from consumer demands and interests to develop revenue resources to maintain the business' financial stability. A forecasting analyst must have excellent communication and analytical skills, especially on creating report models and finance measurement accuracy.

What does a buyer do?

A buyer's duties include product sourcing and comparing resources for the best product range that would suit the specific needs of the business. Buyers must have excellent communication and negotiation skills to evaluate items that most likely benefit the customer and improve the sales of daily operations with cost-efficient products. They also conduct extensive research for market and price trends while considering the highest quality standards. Buyers should also possess strong analytical skills to create purchase orders and statistical analysis.

Forecasting analyst vs buyer salary

Forecasting analysts and buyers have different pay scales, as shown below.

	Forecasting Analyst	Buyer
Average salary	$69,708	$54,049
Salary range	Between $53,000 And $90,000	Between $37,000 And $76,000
Highest paying City	Seattle, WA	Englewood, NJ
Highest paying state	Washington	New Jersey
Best paying company	Apple	NVIDIA
Best paying industry	Manufacturing	Automotive

Differences between forecasting analyst and buyer education

There are a few differences between a forecasting analyst and a buyer in terms of educational background:

	Forecasting Analyst	Buyer
Most common degree	Bachelor's Degree, 75%	Bachelor's Degree, 64%
Most common major	Business	Business
Most common college	University of Georgia	California State University - Bakersfield

Forecasting analyst vs buyer demographics

Here are the differences between forecasting analysts' and buyers' demographics:

	Forecasting Analyst	Buyer
Average age	37	47
Gender ratio	Male, 55.3% Female, 44.7%	Male, 43.9% Female, 56.1%
Race ratio	Black or African American, 5.0% Unknown, 5.0% Hispanic or Latino, 11.9% Asian, 12.7% White, 65.3% American Indian and Alaska Native, 0.1%	Black or African American, 4.0% Unknown, 3.1% Hispanic or Latino, 10.0% Asian, 6.7% White, 75.4% American Indian and Alaska Native, 0.8%
LGBT Percentage	10%	15%

Differences between forecasting analyst and buyer duties and responsibilities

Forecasting analyst example responsibilities.

Manage National/Global RFP project process by creating pricing models and coordinating pricing efforts of different ManpowerGroup brands.
Enter sales and freight information in company ERP software program.
Work with logistics to track shipments to distribution center and ensure customer delivery dates are met.
Develop and execute the POS and inventory forecasts and analysis for mass merchants and national /international sales accounts.
Create promotional, POS, & inventory reports for both domestic and international accounts and submit to company each week.
Utilize Nielsen data to create category reviews, new product presentations, and attend customer meetings to support customer category managers.

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Buyer example responsibilities.

Achieve QA initiatives by increasing transparency and communication with multiple departments and suppliers to achieve daily/weekly/monthly production requirements and expedites.
Manage all incoming RMA equipment, processing and directing to correct locations and departments.
Create, analyze and manage recaps pertaining to inventory, trends, OTB, and markdowns.
Manage KanBan spreadsheets to optimize inventory levels and supplier performance.
Manage business relationship with Japanese OEM of wide-format printer engines.
Manage MRB and IQA escalations to facilitate defective material resolutions.

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Forecasting analyst vs buyer skills

Common forecasting analyst skills

Supply Chain, 9%
SQL, 9%
Data Analysis, 7%
Strong Analytical, 6%
SAS, 5%
Demand Planning, 5%

Common buyer skills

Purchase Orders, 22%
Customer Service, 11%
Logistics, 5%
Supplier Performance, 4%
MRP, 4%
Commodities, 3%

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Updated January 8, 2025

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