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For organizations to maximize throughput and gain operational competitiveness, it is imperative to have a sound demand planning process. Demand planning is a skill that relies on data collection and analysis. You need to know the issues, the drivers behind the issues, and the solutions for the best possible forecasting.

“It is critical that organizations develop the right demand planning process to improve effectiveness,” says Steven Steutermann, Research VP at Gartner. He further says “Organizations are struggling to find the process that fully utilizes the alignment of organization resources. The balance between bottom-up collaborative approaches versus top-down statistical modeling is challenging, and the ability to understand baseline volumes from promotional volumes — as well as mix and shift within portfolios — is an equally daunting task.” collection and analysis. You need to know the issues, the drivers behind the issues, and the solutions for the best possible forecasting.

Demand Planning

In recent times, the advances and updates to enterprise resource planning (ERP) software has come on leaps and bounds as technology fuels business innovation. System solutions are the key to help manufacturers bring their innate intelligence and knowledge to the business process. Industries such as high-tech, industrial, aerospace and defense, that have extremely high pressure on product life-cycle and time management, are all using scheduling tools to improve their performance.

How software solutions have proven to be the best aid to manufacturing business:

1) Solving the problem of Demand Forecast:
Misinterpreting the demand forecast can lead to: increased costs, lead time, work pressure to the employee, resulting in decreasing profit margin. With the help of a demand management solution, you can keep tight control of supply chain complexity with supply chain management modules and tools that deliver accurate demand forecasts and plans in real-time to enhance manufacturing performance.

2) Solving the problem of Overgrown Costs:
With the help of the right solution, you can react quickly to changes in the variables that drive demand fulfilment, such as raw material costs and delivery time. All data gets stored in a single, comprehensive database that allows faster information processing, enabling quick and high-quality decisions.

3) Overcoming the challenges of Customer Expectations:
Today, manufacturers are striving to gain differentiation through better customer relationships. The right solution can help you to become highly responsive and collaborative in exceeding the customer’s needs for faster fulfilment cycles and greater agility in handling changes.

Read More: 4 Top Challenges  Facing Project Manufacturers


Neha
About the Author – Neha Kumar

Neha Kumar is a digital media evangelist and marketing professional. She overlooks Indusa’s content management, social media, online events, email marketing, blogs, digital campaigns, lead generation and inside sales activities on a broader scale.

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Topics: ERP