DEMAND PLANNING & FORECASTING
Optimize the flow of inventory with demand planning and forecasting.
Optimal demand planning and forecasting tools are critical to meet omnichannel service requirements and sales targets, which require offering the right product, through the right channel, at the right time, place and price.
Demand Planning and Forecasting Basics
Demand planning and forecasting are two essential tools in the supply chain management arsenal. enVista’s consulting services can help optimize your demand planning and forecasting, improving the efficiency of your supply chains.
Demand Forecasting
Demand forecasting is the prediction of future customer demand using a variety of analytical tools. This practice helps businesses plan production scheduled, inventory management and logistics more efficiently. Accurate demand forecasting aligns supply with demand, minimizing excess inventory, reducing shipment delays and increasing customer satisfaction. It also reduces the required working capital and makes for more efficient cash flow.
Demand Planning
Demand planning is the action taken based on the information gleaned from demand forecasts. Demand planning involves turning forecasts into budgets, allocating resources and identifying KPIs for performance monitoring. Planners turn statistics into actionable strategies to help your business increase its performance. These strategies can include techniques such as demand shaping, where promotional campaigns, dynamic pricing and marketing efforts can be employed to adjust demand based on the organization’s capabilities and goals.
enVista’s demand planning and forecasting consulting can help you implement tools for demand forecasting and better understand how to interpret and act on the data you’ve gathered.
Leverage enVista’s expertise to understand demand variability and drivers.
Demand planning and forecasting optimizes the flow of inventory throughout the supply chain to improve customer service and reduce inventory carrying costs. enVista’s consultants can help you streamline your supply chain processes across the product lifecycle. Advanced demand planning and forecasting tools give retailers the visibility to inventory demand where and when it occurs, as well as automate processes and understand exceptions to deliver improved results, so you can forecast demand and react to changes quickly and effectively. enVista’s team brings deep experience with today’s most sophisticated systems to help you develop and implement a solution to meet long-term requirements.
People
Our process includes a significant change management phase related to the forecasting teams. Without proper buy-in, there is no guarantee your new processes will work correctly.
Process
It is important to create a cross-functional demand planning process across your sales, marketing and operations divisions. We will do both top-down and bottom-up forecasting to determine the best course of action.
Technology
We can use any number of technologies to accomplish these goals. It can be as simple as using spreadsheet software like Excel, or a purpose-built solution that leverages machine learning or artificial intelligence (AI) to provide forecasting analysis.
enABLE Implementation Methodology
Our enABLE implementation methodology is a four-step approach of assess, build, learn, and execute that assures successful and rapid implementations.
Assess
- Project Planning
- Requirements Definition
- Branding
- Simplicity/Usability
- Content
- Analytics
Build
- Setup & Configuration
- Functional Design
- Technical Design
- Integration
- Enhancement Development
- Proof of Concept
Learn
- Security
- Data Migration & Refresh
- Integrated Model Test
- Training Development
- User Acceptance Training
- End User Training
Execute
- Cutover Planning
- System Test
- Go Live
- Support
Featured Insights
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