Lately demand management in Supply chain has become complex with the numerous market players. Competitions, variety of products to choose to name a few . Demand management focuses to forecast and determine customer demand. Balancing product mix, managing inventory levels and target promotions to maximize marker share are some key aspects to keep in mind for an effective demand management.
Additionally, to ensure effective demand management, analyzing the data is essential. Lately, there are numerous factors influencing the demand like point-of-sale, shipment, out-of-stock, excess inventory, promotions, cannibalization, competitor promotions, pricing, social media influence, product review, policies, and so on.
The traditional statistical methods are unable to accommodate these inputs into the demand generation, hence the need for an AI-based process can evaluate the multiple factors influencing demand and project a forecast with higher accuracy. Login to this Sunday's session to hear … and know more about efficient demand management through AI can help reduce the Supply chain cost in the form of excess stock, low/no stock and reduce service losses.