Effective demand management is critical to the financial performance and health of an organisation.
As the digital revolution in the consumer environment continues, a linear approach to supply chain planning is gradually giving way to ecosystem thinking. Consumers buy in an entirely new way. Goodbye catalogues, hello one-click checkout. To keep up, organisations need the ability manage increasing digital complexities to plan accurately in real-time.
Digital Demand Management: The New Normal
Digitising your organisation will give you the data you need to sense, shape, and respond to demand changes in real time. This will also allow you to apply statistical algorithms to derive more accurate demand forecasts.
To improve accuracy, organisations need to analyse causal factors from increasingly complex digital data sources that influence demand, across the organisation, to determine and manage variability from baseline demand.
Digitisation also facilitates connected collaboration and helps apply process control techniques to manage and improve demand forecasts.
Why is this a Competitive Imperative?
The connected age calls for a new digital demand management system.
One that can effectively;
- Tap into the new digital sources of data from external partners.
- Manage data from various fragmented functions.
- Apply advanced predictive and prescriptive analytics methods.
- Provide a more accurate, actionable demand forecast.
Digital demand management by ANAPLAN
Introducing digital demand management with the Anaplan platform: a collaborative approach that can keep up with omnichannel demand.
Demand Management by Anaplan provides data-driven demand forecasting functionality and helps enhance cross-functional human insights to achieve a consensus demand plan.
Empower demand planners to sense market changes, forecast confidently, and shape the demand plan to changing market conditions by leveraging flexible models and calculations.
There’s a Better Way to Plan
Increase Forecast Accuracy and Reduce Bias
- Leverage statistical forecasts and track accuracy of forecast value-adds from stakeholders.
- Incorporate internal and external market data, and other leading indicators of demand.
- Utilise machine learning for better demand predictions.
Optimise New Product and Promotion Plans
- Plan new products with curve-fit modelling and scenarios based on like products.
- Collaborate on new products to align launch plans and pricing with sales and marketing.
- Model and integrate promotions directly into your demand planning cycle.
Achieve Consensus and Align to Financial Goals
- Collect stakeholder forecasts at any level.
- Define consensus-building rules leveraging inputs from customers and internal departments.
- Improve accuracy of regular-turn, new products, promotions, and intermittent products with intuitive modelling and automated forecasting methods.
- Segment products and predict forecast with adjustable rules and pick-best statistical algorithms.
- Understand forecast changes and drivers of change with forecast analytics.
- Collaborate faster and more easily across departments and customers with an optimised user experience and flexible modelling.
- Integrate demand plans with legacy systems with pre-built connectors and API’s.
- Implement in record time with a cloud-based, pre-built app that can adapt over time.
Executives everywhere are thinking through the contours of the next normal. In this fast-moving economy, businesses that can develop supply chains capable of adaptation, pivot and change will see less competition and huge opportunities on other side of this pandemic crisis.
Brent Gorham is Anaplan Practice Lead at Cornerstone Group, and is a Supply Chain professional with over 20 years of experience within the supply chain sector for Australian and Global market leading companies. Brent is recognised for consistent success in developing systems, processes and people in order to streamline operations.
Anaplan Practice Lead