Business planning analysts optimize production processes to reduce waste and increase productivity. They analyze cost drivers and calculate ROI through quantitative analysis. They review existing processes and recommend new procedures to reduce costs and maintain a competitive advantage. They break down each action and work with product engineers to improve processes. They also analyze expense drivers and conduct statistical reviews to calculate ROI.
A business planning analyst typically analyzes business production processes. Their goal is usually to optimize production methods to achieve higher productivity and reduce waste. Analyzing cost drivers using various financial analysis tools is generally considered an essential part of the job for a business analyst. Another common responsibility for those working in this profession involves calculating return on investment (ROI) through the use of quantitative analysis.
Analyzing production processes is often a crucial function of someone working in this career field. As part of an overall business planning strategy aimed at reducing production costs, he or she might review the various steps involved in making a product or providing a service. Generally, cost reductions are achieved as a result of the analyst’s work in identifying existing processes that can be performed more efficiently. Sometimes a business planning analyst recommends that new procedures be instituted. At other times, he or she may be asked to help with the development of an entirely new workflow process.
When optimizing production processes, a business analyst is likely to break down each action, be it a service-oriented activity or a manufacturing activity. Step-by-step analysis can be performed at periodic intervals. New product launches often involve the expertise of a business planning analyst. At other times, this analysis may be done under pressure to maintain a competitive advantage or respond to an increase in the cost of raw materials or human capital.
For example, if a manufacturer is manufacturing a consumer electronic device, certain assembly procedures may be identified by the business analyst as unproductive procedures that waste time. The analyst will likely work with product engineers or other staff to look for ways to improve the process. If the item currently requires 10 separate procedures to manufacture and the business analyst discovers that two steps can be streamlined into one, cost savings could result.
A key role for a business planning analyst often involves looking for and fully understanding expense drivers so that inefficient processes can be improved. Calculating the ROI of a manufacturing process often involves the business planning analyst factoring in many variables. He or she may conduct an extensive statistical review. Items he or she might look into often include man hours used in providing a service or manufacturing a product, the cost of staffing and how this can affect a company’s profit margin.
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