Demand Planning is not just a term, it is a wide term. Demand planning acts as the nexus point for collaborating multiple activities within an organization. The main objective of demand planning is to create a reliable and accurate prediction of future demands. This entire process involves information gathering, interpretation, and evaluation of intrinsic and extrinsic aspects. These are the points that formulate the demand planning results.
It is obvious that Supply focused planning lacks the visibility to channel sales in the business. The inventory system makes it difficult for all businesses to identify the demand patterns. Ultimately, the time consumed in preparing valid demand response models increases. To improve the system and schematics, Halo has developed Demand Planning software that shifts the focus of business towards all aspects. It includes providing visibility in order promising, inventory, and channels. Therefore, the software offers comprehensive and pre-packed analytics to build a common framework. This will provide end-to-end support for the business with maximum scalability.
Halo believes in providing an unbiased demand-driven forecasting software. It is designed for the business user without the requirement of complicated infrastructure or even a data scientist. The business planners can extract the forward insights by demand planning from any virtual data source. As a result, the business will be able to make better decision overall.
How Demand Planning Maximize Profits and Service Levels?
There is no doubt that demand planning software is meant to increase revenue and secure the capital income of a business. It employs various techniques and tactics for that. Some of the methods that are proven to be effective are given below:
- Reduce Inventory Levels and Stock-Outs: Deliver the right product at the right time at the right location. This is the best and fastest way to increase the free up working capital.
- Identify Risks and Opportunities: The forecasting software gives a powerful drill-down, reporting features, and ad hoc results to examine the forecast dynamics from various perspectives.
- Simplify Consensus Forecasting: The key to collaborating the consensus forecast is to design a simple and flexible workflow.
The demand planning system helps the business to apply complex models to any kind of data source. As the system defines the cycles of the business activities with precision, it helps the planners to understand the influencing factors too. All trends that affect the movement of the business and determine the future events probabilities can be well calculated with the demand forecasting software.
Whether it is automated forecasts, customization of data, or simplifying the What-If scenarios, everything can be done as quickly as possible. Some new implementation in business planning can significantly affect the growth as:
- Automated Tournament Modeling
- Data Integration and Cleansing
- Hierarchy Manager
- Market Factors Analysis
- New and Transition Product Forecasting
- Accuracy and Bias metrics
If you want positive results, then focusing on these key points is vital. Halo has designed software that automatically focuses all statistical metrics to monitor the present and provide accurate predictions.