In today’s global, dynamic marketplace, forecast accuracy is critical. To remain competitive, consumer product companies can’t afford to rely on retroactive responses to shifts in demand. Join our webinar to learn how Demand Sensing enables planners to be more responsive and adaptive than ever before, thus gaining significant competitive advantage.
Just a few decades ago, planners operated in a world of ‘naïve’ forecasting – forecast numbers were unreliable, making forecast accuracy almost non-existent. Since then, forecasting solutions have come a long way, with significant improvements such as pattern recognition, and mathematically tractable models for short-term forecasting.
Many organizations continue to use the outdated forecasting approach of using historical demand as a baseline. Although they can achieve high levels of forecast accuracy at a ‘macro’ level, they still lack the ability to be truly responsive to changing demands at a ‘micro’ level. These retailers and suppliers continue to be blindsided by sudden shifts in demand – be it due to a sudden surge in e-commerce orders during the holiday season, or a hurricane in the Southwest. In the current global marketplace, more modern, accurate methods are necessary to remain competitive and survive.
Demand Sensing is an innovative approach where a broad range of demand signals combined with advanced mathematical models create accurate, short term forecasts. This enables you to swiftly respond to dynamic events such as sudden market shifts, buying behaviors or weather changes/natural disasters. The goal is to get as close as possible to the ‘true demand’ downstream, thereby minimizing the bullwhip effect, known to wreak havoc in the upstream planning later.
Demand Sensing (done right) has several proven advantages – improved forecast accuracy, inventory reduction, improved customer fullfilment, and improved freight savings, to name a few.
Join our Webinar for insight into what it takes to bring your forecasting to the next level using Demand Sensing.
Demand Sensing – what it is really?
How can Demand Sensing help?
What does it take to implement Demand Sensing: the pre-requisites.
A look & feel of the Demand Sensing solution by SAP IBP.
Supply Chain Leader, Digital Business Transformation
Supply Chain Solutions Architect in SAP IBP, SPP, APO