As retailers continue to face heightened competition, changing consumer demands and a shifting supply chain, the need for suppliers to collaborate and optimize their operations is greater than ever before. As a result, demand planning has become a popular supply chain management strategy that enables suppliers to better understand and react to changing demand patterns.
Its Importance
Increased competition, changing consumer demands and a shifting supply chain have all led to a growing need for more effective planning in the supply chain. As a result, demand planning and integrated business planning have become a popular supply chain management strategy that enables suppliers to better understand and react to changing demand patterns. As an increasing number of retailers try to adapt to these trends, the need for suppliers to collaborate and optimize their operations is greater than ever before.
The Benefits
The biggest benefit of demand planning and integrated business planning is that it helps you to plan ahead and increase the reliability of your supply chain. When you are better informed about where demand is coming from and when, you can create an ideal supply chain scenario.
When demand planning, you can also identify the times or places where you might want to expand or offer more products for sale. You can also identify new customers and the types of products they buy. To create an optimal supply chain, you need to understand the buying habits of your customers and this is possible only with demand planning.
Conclusion
Demand planning has become a popular supply chain management strategy that enables suppliers to better understand and react to changing demand patterns. As an increasing number of retailers try to adapt to these trends, the need for suppliers to collaborate and optimize their operations is greater than ever before.
As a result, demand planning has become a popular supply chain management strategy that enables suppliers to better understand and react to changing demand patterns. As an increasing number of retailers try to adapt to these trends, the need for suppliers to collaborate and optimize their operations is greater than ever before.