How Does Demand Sensing Differ from Forecasting for Demand Planning?

Logility

The promise of demand sensing is that we can do a better job of anticipating and planning for short-term changes in demand. For today’s supply chain planner, the art and especially the science of forecasting demand have evolved. Implicit in this little parody of a planning meeting is the belief (the admission, if we’re honest) that macro-level predictions are often the best we can do. The promise of Demand Sensing is that we can do better.

Demand Planning

SupplyPike

What is a demand plan? Demand planning tells you how much inventory you can expect to sell, down to the regional level. Armed with point-of-sales data, knowledge of inventory issues, and accounting for anomalies, you can plan on how much product to manufacture, store in your warehouses, and ship to each region. Demand planning helps identify potential expansions to your product line or supply, as well as potential threats to your sales.

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Should You Outsource Demand Planning?

ToolsGroup

But now they have started outsourcing supply chain business processes like demand planning, allowing them to focus on other business processes while gaining access to world class capabilities. Here are three common drivers of companies considering outsourcing: Excess time spent on forecasting is sapping resources away from value-added tasks, and planners are spending a huge amount of time cleansing data and doing analyses to get to a plan.

Quick Start Guide to Using Machine Learning for Demand Planning

ToolsGroup

Anyone who has done demand planning knows it is extremely complex, with forecasting challenges and rapidly shifting consumer demand, often exacerbated by seasonality, new product introductions, promotions, and myriad causal factors (e.g. The good news is that these characteristics make demand planning a perfect fit for artificial intelligence solutions. The forecast generated by these algorithms degrades as the demand patterns evolve over time.

Overcoming the Accuracy vs Agility Trade-Off in Demand Planning & Forecasting

Agility and accuracy don’t necessarily need to be at logger heads. In-fact, anticipatory agility enabled by AI and Machine Learning can move the accuracy frontier forward in terms of validity and consistency driving significant business value.

Demand Planning: One System to Rule Them All

Logility

Food and beverage, consumer electronics, life sciences, durable goods all have to deal with product seasonality, lifecycles, assortments, promotions and demand signals across multiple planning horizons and more. Coordinated planning across the short, medium and long-term horizons is absolutely crucial to profitability and competitiveness. What is needed is a single, integrated phased planning solution that unites short-, medium-, and long-term planning under one system.

High Velocity Demand Planning

Adexa

But speed is not only on the supply side, it is also on the demand side. How quickly do you know about potential shortages and or increase in demand? In the early stages of Corona virus, things were changing by the day if not by the hour regarding both short and long term demand sensing for PPE. Monthly demand planning is obviously inadequate. By the time you know what you need and tell your suppliers, demand has already changed and you are left with shortages.

The Importance of Demand Planning

Logility

With increasing frequency, I have noticed blog posts touting the position that ‘demand planning is dead.’ Their solution: by sensing and reacting to customer demand at the point of purchase there is no longer a need for projecting demand based on history. ” And so it is with demand planning. The Fallacy of Basing Production on Actual Demand. What actions is your company taking to improve the ability to predict demand

Theory & Practice (Demand Planning)

The Network Effect

In supply chain planning there are many theories. Consider Forecasting, or Demand Planning as an example. I don’t know about you but I’ve been awfully impressed with the theories I hear a variety of experts talking about when it comes to demand planning. Here’s a few of the “theories” I’ve heard or read about, that maybe you’ve seen to: You should factor in the latest weather forecast and that will improve your demand plans. Kevin Dooley.

How demand planning can quench our thirst for beer

Kinaxis

On the heels of a carbon dioxide (CO2) shortage in the UK that caused some breweries to ration beer production , Germany’s long, hot summer and the revelry surrounding the World Cup have combined with suboptimal demand forecasting to create a significant shortage of beer bottles , causing breweries large and small to plea to customers to return their empties. Taking a closer look at the demand management process.

The Beyond Belief Impacts of VUCA on Supply Chains and Commerce

Speaker: Jim Tompkins, Chairman and CEO at Tompkins International

We are fortunate to have Dr. James A. Tompkins, one of the world’s leading supply chain thought leaders, to address the impacts of VUCA on today’s supply chains and commerce. Jim recently stated that “the impacts of digital commerce on supply chains and commerce are far greater than the ending of the Cold War in 1991. The lifting of the Iron Curtain was minuscule when compared to the impacts of VUCA on how business works and how people live.”

Get your demand planning and forecasting game on

Kinaxis

by Alexa Cheater Outplay your competition with a smarter, stronger demand planning strategy. Customer demands are changing. So why isn’t your demand planning strategy? It’s time to level up your demand planning and experience revolutionary breakthroughs in supply chain performance, planning and profitability. Successful demand planning is quick, collaborative and up-to-date – not slow, siloed and full of stale data.

Demand Planning

o9 Solutions

Demand Planning: Improve Forecast Accuracy, Alignment and Accountability. Top Reasons Organizations are Upgrading their Demand Planning Capabilities. Increasing sales adoption in the demand planning process. Omni-Channel, Multi-Region, Large Product Portfolio planning made simpler. Incorporating Opportunity Pipeline in CRM system into Demand forecasts. Increasing Sales adoption of Demand Planning Easier. Demand Planning.

Forecasting and Demand Planning for a Better, Unified Future

Logility

There is a lot of pressure on planners to improve this important metric and while no plan will ever be 100 percent accurate (that would be an order after all), it is important to get as close as we can to help synchronize the supply chain and satisfy both our financial and service level objectives. For example, as Elaine Videau of Tillamook County Creamery Association notes, “You can build a plan that drives supply chain as well as finance, sales and other departments.

Demand Planning Against COVID-19: Introduction

DynaSys

This article is an introduction to a series of three articles intended to help demand planners manage the impact of COVID – 19 on their demand planning process. The emergence of the Coronavirus disease 2019 in our lives has seriously affected our products’ demand and their volatility has become more significant than ever. A factor that we must also take into account is the great added impact that external information has on the demand.

How to Build a Collaborative Global Demand Planning

Arkieva

How global businesses can build a collaborative demand planning process How to Build a Collaborative Global Demand Planning was first posted on June 26, 2018 at 8:48 am. ©2017 Demand Planning Forecasting demand planning methods demand planning process flow demand planning process model demand planning tools demand planning training difference between demand planning and forecasting

Demand Planning Apps Top Supply Chain Planning Machine Learning

ToolsGroup

Gartner recently polled both users and vendors on which supply chain planning (SCP) applications are employing machine learning and in three different analysis, demand planning and demand forecasting came out top of the list. So Gartner polled both users and technology partners to see where machine learning had made the most inroads in supply chain planning (Current Use Cases for Machine Learning in Supply Chain Planning Solutions, 19 May 2018 ID, Tim Payne).

From Excel to State-of-art Demand Planning Solution

DynaSys

I have just completed a new demand planning project. Before the project, they were using Excel to forecast and plan their business. Now with their Demand Planning solution, three demand planners can calculate and review a new forecast in minutes. Now with QAD Dynasys DSCP, the demand planners can review business results at different levels of their business and take action with easy to use root cause analysis metrics. Project success!!

Demand Planning Breaks Down During Recessions

Logistics Viewpoints

Demand planning is difficult in these circumstances. The post Demand Planning Breaks Down During Recessions appeared first on Logistics Viewpoints. Demand Management demand planningBonds had a yield curve inversion on August 14th. This often often signals a recession within about 14 months. This article discusses how supply chain teams can do better in these circumstances.

Demand Planning Against COVID-19: The Impact

DynaSys

In this article, the second of the series analyzing the impact of COVID – 19 on demand planning (find here the first one), you will find a list of actions demand planners can do to correct and clean COVID’s impact on demand. One of the first things to carry out is to identify all the items where COVID-19 has added noise to the demand history and adjust to normal levels to provide a more accurate statistical forecast calculation.

Is Statistical Forecasting Making Your Demand Plan Better or Worse?

CHAINalytics

By Pekka Hakkinen | Principal | Chainalytics Demand planning is the first and perhaps most-important planning phase in any end-to-end sales and operations planning (S&OP) process. But the demand planning phase is typically the most challenging, since … The post Is Statistical Forecasting Making Your Demand Plan Better or Worse?

Challenges with Excel When Building a Demand Planning Process

Arkieva

Challenges with Excel When Building a Demand Planning Process was first posted on February 19, 2019 at 7:42 am. ©2017 Demand Planning demand forecasting examples excel demand planning tools forecasting call volume in excel free demand planning excel template inventory forecasting excel template sales inventory operations planning excel template supply and demand excel template supply chain planning excel

Using Demand Planning Statistical Models to Enhance Your Sales Forecasts

Arkieva

How to use demand planning statistical models to enhance the value of your sales input during the forecasting process. Using Demand Planning Statistical Models to Enhance Your Sales Forecasts was first posted on September 5, 2018 at 12:27 pm. ©2017 ©2017 " Supply Chain Link Blog - Arkieva " Use of this feed is for personal non-commercial use only.

Outgrowing Excel? Here’s How to Create a Centralized Demand Planning Process

Arkieva

Demand Planning directly affects the business financial plan, pricing, capex decisions, customer segmentation and resource allocation. Considering the criticality and implication of this process, Demand Planners and Managers need to continually evaluate their current Demand Planning process and ensure that the Demand Plan generated is holistic, relevant and timely.

Machine Learning: Optimization and Community Intelligence – A Wiser Forecasting

Arkieva

Learn the importance of advanced optimization for statistics (AOS) even for simple methods such as exponential smoothing and the importance of community intelligence.

Developing the Necessary Skills for Successful Demand Planning

CHAINalytics

Forecasting market demand and the subsequent materials supply required to fulfill that demand remains incredibly challenging for supply chain professionals despite advances in data analytics and the wide variety of technology solutions designed to support supply chain planning processes.

Quick Start Guide to Using Machine Learning for Demand Planning

Brookes Supply Chain Planning Blog

Anyone who has done demand planning knows it is extremely complex, with forecasting challenges and rapidly shifting consumer demand, often exacerbated by seasonality, new product introductions, promotions, and myriad causal factors (e.g. The good news is that these characteristics make demand planning a perfect fit for artificial intelligence solutions. Demand Planning

4 Ways Sonus Improved Demand Planning and Reduced Inventory by 20%

Kinaxis

by Alexa Cheater Struggling with the reality of not being able to easily consolidate data, global telecommunications company Sonus Networks was dealing with delays in understanding the impact of changes to its supply chain plans. The result was difficulty in meeting customer demand in a timely and efficient manner. To combat its planning issues, Sonus took four steps to improve demand, reduce inventory, and share information better across the entire network.

The definitive guide to demand planning

TradeGecko

Effective demand forecasting and demand planning are key to the longevity of wholesale and retail businesses alike. We look at some of the major aspects of the demand planning process and how they impact the entire supply chain. Business Growth Supply chain management Insights & Analysis Inventory Management

The ‘Secret Sauce’ to Improving Demand Planning

Arkieva

How do you get the sense of what works for demand planning? Related Webinar: How to Use Predictive Analytics to Drive Sales & Delight Your Customers ] Improving Demand Planning. The ‘secret sauce’ concept to demand planning is a little bit trickier. So how to do you get to the point where you get a sense of what works when it comes to demand planning? Read Also: B2B Demand Sensing: 7 Things You Must Know ] Demand Sensing.

Demand Planning – We Must Grow our own Garden

DynaSys

These are the metrics a demand planner needs to know and understand to confirm their assumptions. All these pieces of information are key for the demand planner. for the demand planner. By breaking down the steps of gardening, you might better understand that the role of a demand planner is not as simple as it seems. The post Demand Planning – We Must Grow our own Garden appeared first on QAD Dynasys Blog.

Forecasting vs. Demand Planning

Supply Chain Action Blog

Often, the terms, “forecasting” and “demand planning”, are used interchangeably. . As a component of demand planning, forecasting is necessary, but not sufficient. Demand planning is that process by which a business anticipates market requirements. . High volume, high variability will be difficult to forecast and may require a sophisticated approach to safety stock planning.

How to Embrace the New Normal in Demand Planning

Bristlecone

It’s no secret that demand volatility caught supply chain professionals off-guard during this pandemic. Over the past six months, we have seen demand patterns ranging from huge spikes to deep troughs, and everything imaginable in between. What if my supply plans aren’t flexible enough?

Top 5 Signs You Have Outgrown Your Planning System

Arkieva

Top 5 Signs You Have Outgrown Your Planning System was first posted on August 18, 2020 at 8:23 am. ©2017 Industry analysts, big-time consultants, and your peers are all talking about technology, digital transformation, and the future of the supply chain.

Post-Pandemic Demand Planning: ‘Analytics-Minded’ Always Wins

Blue Ridge

The post Post-Pandemic Demand Planning: ‘Analytics-Minded’ Always Wins appeared first on Blue Ridge. Blogs and Articles covid-19 supply chain analytics uncertainty