What Is Demand Planning?
Demand planning is the prerequisite for a smooth-running supply chain. It’s foreseeing your product demand based on data from your past sales, trend analyses, and more.
Effective demand planning entails forecasting demand and managing supply chain operations, like inventory and safety stock optimization. Based on your product performance over time, you can predict future demand and determine how the fluctuating market conditions affect it. This empowers you to foresee and seize upcoming opportunities, reduce inventory costs, and increase revenue. Effectively add to your bottom line by removing the slow-moving products out of inventory and making space for faster-moving products. The result? Manage your inventory more efficiently and effectively, reduce your costs, and deliver excellent customer satisfaction.
What Is Demand Planning Software?
Demand planning software helps predict your product demand based on data found in past sales, market research, trends, and more. Often called a demand management tool, it forms the basis of a strong supply chain.
Our demand planning & forecasting software is your one-stop solution to plan and predict sales demand. We use 250+ advanced algorithms, allowing you to plan for up to five years. These algorithms have been developed over the years to ensure your demand forecasting software provides you with accurate predictions. Considering every possible scenario, you get an extensive “what if” analysis, aiding your supply planning efforts. When you know what your customers expect, you can better prepare to meet and exceed their demands.
Shaping inventory based on projected demand is another optimization achieved with our software. By equipping your inventory the right way, avoiding stockout and overstock, and confirming products don’t spend too much time in inventory, the safety stock optimization helps you be prepared for an unexpected rise in demand.
Along with the standardized elements of our industry-leading software, our experts work closely with you to develop customized demand planning software solutions specific to your needs. Our goal? To help you increase sales while saving on unnecessary inventory and warehousing costs, resulting in the highest profit at the lowest possible cost.
Features of Demand Planning Software
Working as a SaaS+ company, we go beyond simply providing you with off-the-shelf demand planning software. We provide customized demand planning solutions for our clients, best suited to their business needs. Our experts work with you, then design a customized business forecasting solution specific to your industry and your goals.
Seasonality and Trend Analysis
Seasonal changes can greatly affect your business. Our software allows you to analyze past and present consumer trends to determine your products’ performance and expected demand in the coming time. Always be ready to cater to your customers’ demands without incurring any loss.
Demand Forecasts for New Products
When forecasting, our software analyzes historical sales data to predict future demand. But with new products, no such data exists. For your new products, the TransImpact demand planning software analyzes the sales data of similar products along with market research to generate accurate demand forecasts.
Forecast demand changes based on upcoming events, promotions, or discounts. Our software will help you to accurately predict sales during special periods, providing information for necessary safety stock and replenishment parameters for availability at all times.
Creating Raving Fans
We pride ourselves on the quality customer service we provide. From onboard to post “go-live”, our team of experts is always there to help you at every step. They ensure the software integration journey becomes as seamless as possible. Our goal? To create raving fans of our clients and partners.
Reporting is an important part of the demand planning process. Our business forecasting software helps you create reports at every step of the process, recording your analysis better, and forecasting demand with increased precision.
Benefits of Demand Planning Software
Accurate Demand Forecasting250+ industry-leading algorithms ensure optimum accuracy of demand forecasts, to better plan your supply chain operations.
Our demand planning software uses years’ worth of sales data and analysis to generate accurate demand forecasts up to five years in the future.
If you change your ERP partner, we’ll help you connect it with our solution, seamlessly integrating data and other business information.
Save Time on Forecasting
Our demand planning tool saves time on forecasting by automating forecasting processes, and integrating data with your ERP or BI reporting tool.
You can save on production and warehousing costs while perfectly catering to demand, maximizing revenue for your business.
Make Smarter Decisions
When you can foresee your supply chain operations, you will make smarter decisions to optimize your sales plan and recognize profitable opportunities.
Optimize Your Inventory with Accurate Demand Forecasting
Our demand planning solution offers a built-in dashboard and integrated business intelligence. MS SQL Database technology provides custom reporting, so you can easily create weekly or monthly sales demand forecasts on demand.
To enhance the accuracy of your demand forecasts, you can compare various forecasts from the ones received from your sales team, customers, and those calculated by the software. This helps you plan your inventory more efficiently.
Intuitive User Interface
Our user-friendly customer interface, multiple forecasting options, and a graphical overview of data dramatically increase the proficiency of demand planners. Ease of working ensures a seamless transition for new hires as they get hands-on with the software.
Forecast at Any Level
Demand depends on various factors besides just the SKUs. Our demand planning software lets you forecast your demand at any hierarchy level considering every SKU, location, customer, warehouse, planner, sales region, grouping, total business, and more.
Besides forecasting, the demand planning tool allows you to perform various supply planning operations like inventory optimization, container optimization, supplier planning, safety stock optimization, retail analysis, and more.
Point-of-sale (POS) forecasting is a critical offering of the software. It is especially beneficial for ecommerce brands. With POS forecasting, you can analyze and forecast your demand across various platforms to manage the supply chain accordingly.
Skip the Spreadsheets and Choose Smarter Reporting
|Spreadsheets||Demand Planning Software|
|Lacking security of data||Secure demand planning|
|No access to real-time data||Real-time access to data|
|Manual data input||System automatically extracts data from various sources|
|Not user-friendly||User-friendly with intuitive interface|
|All data accessible to everyone||Set specific permissions and share data with certain users|
|Problems arise when Windows version changes||Automatically integrates with changing Windows versions|
|Access to data can be slow and cumbersome||Readily available and easily accessed to data|
|Only integrates with a single source of data||Integrates to various data warehouses|
|Vulnerable to data loss||Backed-up data avoids data loss|
Accurate Demand Planning Integrates with Any ERP of Your Choice
For accurate forecasts every time. Our software integrates with the majority of popular ERP solutions and business intelligence tools. If you wish to change your ERP solution, our experts will help you integrate your data with the new system easily. With 24×7 virtual sessions and impeccable customer service, our experts are there to help you with your ERP integration at any time.
Industry-Specific Demand Planning Solutions
At TransImpact, we cater our demand forecasting services to a wide range of brands across various industries. If you have inventory, our forecasting solutions can help you enhance your supply chain by saving time, reducing costs, and increasing revenue. Some of the industries that require forecasting services include retail, manufacturing, FMCG, automotive, fashion, ecommerce, and more. And we understand businesses belonging to different industries aren’t one-size-fits-all; each needs a different set of forecasting services. That is why we customize for each and every one of our clients.
Additionally, demand forecasts benefit various departments of a business. Going beyond the supply chain, they affect every aspect of the business, from production to marketing. A few departments that can benefit from proficient demand planning software include:
ProductionWhen you have a clear image of your expected demand, you know how much product will be required to cater to it. Based on the forecast, you can manage your production and make efficient plans, increasing revenue while reducing waste.
At the core, demand forecasting aids your financial efforts. You can ensure the availability of your products, enhancing profit. At the same time, you save big on unnecessary production and storage costs, which increases margin and adds to the bottom line.
LogisticsWhen your supply chain runs smoothly, your logistics benefit. Demand planning lets you avoid stockouts and overstock while ensuring your products don’t spend unnecessary time in inventory. This improves your turnover rates and reduces deadstock.
Ask us! Demand planning requires a thorough understanding of your product sales over time. TransImpact demand planning software helps you accurately plan your demand for up to five years, using 250+ forecasting algorithms. Book a demo with our experts to know more!
Demand planning is a wider term that encompasses demand forecasting and supply planning operations. Demand forecasting only deals with predicting future product demand for a business.
Demand planning forms the basis of a smooth-running supply chain by helping businesses foresee their product demand in the future and how market changes might affect them. This gives you a chance to prepare for what lies ahead.
The basic elements of demand planning include sales history, past and present trend analysis, seasonality, event and promotions, and more.
There is no one-size-fits-all solution when it comes to demand planning. Every business has different needs and might require a different set of demand planning services. That’s why we provide customized demand planning solutions to give our clients the software that best suits their specific requirements.
Get in touch with us and our experts will contact you, understand your requirements, and provide you with the custom demand planning solution, best suited to your business needs.