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Category: Demand Planning

Read timely information on how effective demand planning can  elevate customer service levels and reduce inventory costs.

How accurate are your forecasts and how accurate do they need to be?

A forecast doesn’t have to be correct to have value. In fact, the Institute of Business Forecasting & Planning said, “We need to continually remind people that a forecast is not going to be 100% accurate, and that it does [...]

How do you choose your aggregation levels?

When it comes to aggregation you could traditionally choose top-down or bottom-up. That is not necessarily the case anymore. The Institute of Business Forecasting & Planning said, “Middle-out forecasting is another option, starting somewhere in the middle of a hierarchy; [...]

Forecast vs. Demand Plan – do you know the difference?

Do you know the difference between a forecast and a demand plan? A forecast is a prediction of demand based on numbers seen in the past. Demand plan starts with the forecast but then takes other things into consideration like [...]

Seven Advantages of Integrated Demand and Supply Planning

A championship football team reaches such heights because of teamwork, practice, and a clear strategy.  Both offensively and defensively, team members are drilled over and over to work together and know the plan so that on game day, everyone is [...]

What makes a great demand planner?

What characteristics does a great demand planner have? First of all, they can solve problems. Being creative and objective is a vital part of their job! However, they can also communicate their problem solving methods very well. It’s important for [...]

Making your demand planning the best it can be

If your demand planning isn’t going as well as you hoped, there are a few things you can do! First, make sure you are really committed to demand planning and you are not just doing it out of perceived obligation. [...]

The laws you should really know about demand planning

How confident are you in your demand planning knowledge? Institute of Business Forecasting and Planning says there are a few laws you should follow. First, there are a few times that your planning gets less precise - when you get [...]

Demand Planning: What Is It and Why Do You Need It?

Estimating future demand is one of the most valuable activities your organization can undertake. A demand plan’s impact is felt throughout the business, from sales and marketing to manufacturing and distribution. When done correctly, demand planning can put you in [...]

Demand Management: Linking the Market to Operations Management

All businesses, whether they be commercial, profit-seeking companies or not-for-profit altruistic enterprises, manage demand. It is so common, that we might not even be aware that we are doing it. We do it in our everyday lives, as we manage [...]

Data—Our New Natural Resource

As I walked the floor at this year’s APICS conference and sat through a variety of educational sessions, I was reminded of a phrase I heard recently: “Data is becoming a new natural resource.” The statistics are quite mind-boggling. According [...]

Do You Know These Financial Metrics?

When it comes down to the bottom line, your decisions have financial impacts. The Institute of Business Forecasting & Planning said, “The profit and loss statement often gets the most attention, since it shows the revenue, the cost of goods [...]

What in the World is Wrong with our Forecasts?

Forecasting has been woven inexorably into the fabric of almost all companies across America over the past fifty years. It is safe to say that most business leaders would argue that high quality sales forecasting is an indispensable activity within [...]

Integrating Planning and Scheduling: How Is It Done?

Modern manufacturing operations are constantly challenged to be flexible, yet efficient. Compressed product life cycles, complex global supply chains, and fierce competition exert extreme pressures on production processes. Without tight integration between planning and scheduling, the business may struggle to [...]

Prepare for Instability with Demand Planning

In a time when business is booming, fear that things may turn the other way can build. Demand planners can help by being realistic and trying to create the most accurate picture of what is to come. The Institute of [...]

Why It’s Smarter to Choose Software Over Spreadsheets for Accurate Demand Planning

Deciding to use a software application for demand planning, instead of spreadsheets, is a major shift for any company but its essential to longer term growth. Of course, like any big change, there’s a time to do it that makes [...]

Using Advanced Analytics to Sense & Shape Demand

In the keynote of its Supply Chain Executive Conference in Phoenix, Gartner cited automation, algorithms and the systematic use of real-time data as industry game changers. These are such huge focus areas because they are key to enabling a digital [...]

IBF Forecasting Survey Reveals 70% Believe AI in Demand Planning will Rise

Artificial Intelligence machines - those being able to carry out tasks in a way that we would consider “smart” - now decipher unstructured text analytics in almost real time. They give us directions, make predictions on our purchase preferences, and [...]

Revisiting Your Demand Planning Metrics

Obviously, everyone measuring metrics should know precisely what question that metric is meant to answer, but that's (unfortunately) not always the case. It's important to check both inside and outside the department to make sure everyone fully understands what the [...]

10 Ways to Improve Demand Forecasts

Have you ever asked yourself demand planning questions like, "How should we focus resources on value add areas?" Or, "What forecast error measurements should I use, and how far in advance should we freeze forecasts?" You absolutely must modernize your [...]

The Role of Salespeople in the Demand Planning Process

Best practice in demand planning includes working with the sales department. Building strong relationships with your sales teams can offer significant advantages in your demand planning process. Salespeople can alert you to key issues, such as customers that are not [...]

What Demand Planners Need to Succeed

Proper demand planners provide enormous benefits to an S&OP program. Moreover, the people taking on these roles require proper support from higher up management teams, otherwise, demand planners can't deliver at peak performance. In order to achieve significant competitive advantage in [...]
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