TransImpact

  Demand forecasting is the first step of planning that puts supply chain forecasting into motion. With accurately forecasted demand, you can plan your production, inventory, and even your marketing efforts. Demand forecasting refers to estimating demand for a certain product in a defined future time period. It helps you ensure availability, monitor changes in your demand, and make smart business decisions to enhance profitability.  Demand planning and forecasting , if done right, enables you to streamline your supply chain operations, But it isn’t as simple as it may seem, especially in today’s actively changing markets. One major challenge in forecasting demand is ensuring accuracy, which is often dependent on various factors such as sudden changes in the market or unavailable products. Businesses also face many other challenges in forecasting demand, which can cause substantial errors. Are any of these six common forecasting challenges f amiliar to you?  Dynamic Retai...

  In today's fast-paced supply chain industry, demand is volatile, networks are large, and consumer expectations constantly change. Even pu tting the political and post-pandemic effects of the world aside, the increasing reliance on eCommerce and same-day deliveries makes it hard for companies to cope with the changes. The only way to keep ahead is with effective supply chain planning and, most importantly, demand planning.   Supply chain demand planning is the process of predicting and planning future demand based on past sales, changing market conditions, consumer trends, and more. Demand planning and forecasting in supply chain are often used synonymously. But demand forecasting is only a part of demand planning and only includes predicting future demand. On the other hand, demand planning concerns forecasting, supply chain planning, inventory management, and more.     Importance of Demand Planning    Demand planning is an initial and the most signific...