LONDON--(BUSINESS WIRE)--Quantzig, a leading analytics advisory firm that delivers customized supply chain analytics solutions, has announced the completion of its free resource on demand planning and forecasting. Demand planning and forecasting is one of the most critical challenges that businesses face in supply chain optimization. It is one aspect of supply chain optimization that has the greatest impact on the profitability of businesses.
“Demand planning and forecasting is the key for businesses to optimize inventory according to peaks and troughs in demand and reduce the need for safety stock,” says a supply chain analytics expert from Quantzig.
By planning and forecasting demand, companies can gain detailed insights into how to deploy its supply chain to satisfy customer needs and demands. Also, demand planning and forecasting helps in enhancing accuracy of the forecast and customer service levels by focusing on factors responsible for satisfying market needs. Furthermore, it helps in accurate prediction of the actual demand and improves sales and operational performance at minimum cost.
Are you wondering how to improve forecast accuracy and maximize returns on demand planning efforts? Get in touch with our experts.
Steps to Achieve Demand Planning and Forecasting Excellence
Step #1: Move beyond spreadsheets
Even today, there are many companies that rely on spreadsheets and enterprise resource planning systems to generate their forecast. But to stand out in the increasing competition, organizations need to adopt a multi-layered approach that can help in understanding factors influencing demand in the long run. Since spreadsheets and enterprise resource planning systems are not capable of automating many of the functions, it is high time for businesses to move beyond spreadsheets and adopt smart and data-driven techniques for accurate planning and forecasting of demand.
Our customized demand management solutions help businesses to enhance service levels and manage portfolios efficiently. Request a free demo to know more.
Step #2: Spotlight on collaboration
For businesses to achieve excellence in demand planning and forecasting, it is essential to gain visibility into customer demands and internal stakeholders. This can help in providing reliable information to the sales and operations planning team. It is important for companies to collect accurate information on demand signal and feedbacks as this can contribute greatly to the decision making of sales and operations planning team. This is known as collaborative planning and aids in sensing demand as early as possible and respond to market dynamics quickly.
Quantzig’s expertise in offering demand planning and forecasting solutions can help you increase profitability and improve collaboration across the supply network. Request a free proposal to know how.
To read more, download this free resource here.
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal