Demand planning is essential for your business if you want to have a good handle on your inventory. Demand forecasting software, also known as demand planning software , helps your company predict consumer demand for the products or services you offer. With these forecasts you can make plans to prepare to meet anticipated consumer demand.
The benefits of these demand planning tools affect many areas of your company. Your use of Avercast’s demand forecasting software will reduce inventory costs and improve the satisfaction of your customers.
Demand planning software gives you the insight your demand planner needs to adequately maintain inventory levels. You’re able to do this because you know how much product your consumers are going to purchase, as well as when they’re going to do so.
This added insight allows you to avoid overstock and stockout situations, and eliminating these situations saves you various resources. You save money by not wasting product or missing out on potential sales. Your warehouse operations improve as inventory is accurate, allowing for higher turnover rates and more accurate shipments. All these beneficial aspects allow you to determine and employ the amount of labor your company needs to operate effectively.
With all these positive improvements in your company operations, demand planning systems can greatly enhance customer satisfaction. Not only do you have the products your customers want in stock, but their orders are accurate and timely. That’s sure to guarantee happy customers.
Unfortunately, not all companies realize the benefits of accurate demand planning software.
Do you use a cellphone, washing machine, camera, television, refrigerator, or car? Each one of these things has one thing in common, they each contain semiconductors. Semiconductors are materials used to manage the flow of electricity, so the purpose of a semiconductor is to turn something “on” or “off”. There’s currently a shortage of these chips, while the demand for them remains steady and growing.
The shortage of semiconductor chips is harmful to the automotive, technology, and other industries. Companies are continuing to innovate and produce new products, but without ample amounts of these chips, production times have been extremely lengthened.
There are many risks associated with this current shortage. Many automotive companies have been forced to stop production due to supply shortages. Not just sales are being affected by this production halt. There are employees, suppliers, retailers, and more that are being negatively impacted. It’s a huge problem, and no one is quite sure how to solve it.
Now, we aren’t here to brainstorm how to fix this worldwide chip shortage. Of course, there are always unforeseen elements that can impact supply chain. However, we’re here to raise awareness about how Avercast’s demand planning tools are beneficial in situations like this. Avercast’s demand forecasting software contains our events management tracker. This tracker gives you the ability to account for abnormalities due to unexpected events.
With decades of supply chain experience, Avercast has developed 250+ algorithms that use historical data, market trends, and more to ensure the most accurate forecast possible. Avercast has multiple demand planning tools for you to incorporate into your business operations. We’re confident you’ll see positive developments as you implement Avercast’s demand forecasting software.
Demand Forecasting Software
Uses 280+ algorithms to predict demand for the products or services you offer to consumers. These forecasts enable you to prepare to meet this demand in a productive manner.
Inventory Planning Software
Helps you manage your inventory. You’re able to ensure you have the right amount of inventory at the right place and time.
S&OP Planning Software
Allows you to manage by exception rather than manually. With S&OP software you’re able to maintain accurate inventory within designated time periods.
Capacity Planning Software
Takes demand and production factors into consideration. With this software you’re enabled to plan for changes in your warehouse operations, such as capacity changes, outsourcing product, turnover rates, and shift management.
Supplier Connection Software
Improves connections between suppliers and you. Your suppliers will be informed in advance about what products you’ll need and when you’ll need them. Scrambling to make sure your inventory is correct will be a thing of the past. Avercast’s supplier connection software minimizes lead times, customizes per vendor, allows instant communication between supplier and company, and much more.
There will always be an element of uncertainty in the world around us. However, if you could be certain of some things, would you want to be? Avercast’s demand planning software opens your eyes to things you never knew were visible. We’ve been working on perfecting our products for decades, and we can ensure you that our forecasts are as accurate as possible.
Industries and technologies will continue to advance, and Avercast will be right along with them. If you’d like to learn more about how your company could benefit from demand planning tools, please reach out to the Avercast team today. We would love to schedule a free demo or call with you. Contact our experts today!