Demand planning is a multi-step operational supply chain management (SCM) process used to create reliable forecasts. Effective demand planning can guide users to improve the accuracy of revenue forecasts, align inventory levels with peaks and troughs in demand, and enhance profitability for a given channel or product.
Pack demand planning is a vital aspect of managing value chains. Generally, the first step of pack demand Planning is to forecast product demand. A manager can plan resource deployment in accordance with the resulting forecasts. In other words: it’s a bottom-up approach vs. the top down planning. Associated risks with this method are: Low forecast accuracy and numbers of planners required.
In the manufacturer to retailer model, customer collaborative partnerships have been a dominant theme since the 1990s. Although there was a lot of energy behind CPFR, manufacturers and retailers are adopting different versions of collaborative forecasting and replenishment strategies now. These include Collaborative-VMI, CPFR, Account Based Forecasting, CMI, Shared Single Forecast and replenishment etc.
The Demand management in the 21st Century is a more complete view of the business. Demand Management is not merely forecasting. Demand management strives to manage all the activities associated with discovering markets, planning products or services for those markets and then fulfilling the customers ‘demand’. It is an integrative set of processes across, not just the enterprise, but the trade partner network. Do you really understand your market? Are you sure you know who your customer is and what draws them to your business? And when they get there are they actually happy with your assortment—your product offering and service? And even if they buy, are you getting the wallet share you could be getting? These are profound questions for any business. If you would still like some more information then this can be found by entering the keywords ‘pack demand planning’ into an internet search engine.
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