Скачать или смотреть Demand Planning and Demand Sensing

Hi. As you learn more about
supply chain demand planning, it's important to
understand the difference between it and demand sensing. These are two concepts that are related to forecasting
customer demand, but differ in their
approach and purpose, so by the end of this video
you will be able to define demand sensing and describe the relationship between
it and demand planning. Throughout this video, we'll use a fictitious company called Green Leaf Foods as an example. It offers a wide range of pet food products to
consumers around the country. Let's quickly review
what demand planning is. It's a broad strategic
process of estimating and forecasting future
customer demand over a long planning horizon. Demand planning typically takes a structured and
data-driven approach , incorporating
statistical models, forecasting algorithms, historical data analysis and market behavior to
project demand. Your demand planning process at Green Leaf Foods involves considering historical
sales data, market trends, and insights from the
market research team. Additionally, you collaborate with green leaf supply
chain partners, such as farmers, distributors, and retailers to gather relevant information on
production capacity, inventory levels, and
customer demand. By incorporating these inputs you can develop
demand plans that align production and
inventory levels with anticipated
customer demand. How is demand sensing different? It's an approach to demand forecasting that focuses
on capturing and analyzing real-time or
near real-time data to understand current and immediate
future demand patterns. It leverages internal
and external variables and advanced
analytics techniques, machine learning, algorithms, and data from various sources. The objective of
demand sensing is to enhance the accuracy
and responsiveness of demand forecasts by
capturing the most up-to-date market dynamics
and customer behavior, and to provide an output that can be implemented
in the short term. At Green Leaf Foods you leverage various data sources
for demand sensing, such as point of sale or POS
data from retail partners, online sales data,
customer feedback, and social media monitoring. For example, you
track POS data from pet food stores
and grocery stores to understand which
products are selling well, and you monitor
customer reviews and social media conversations to gauge customer sentiment
and emerging trends. By analyzing these signals, you can make timely
adjustments to production, inventory, and
distribution strategies to respond quickly to the changing
customer demand patterns. Having a clear
differentiation between demand sensing and
demand planning helps the supply chain team determine the appropriate techniques and time horizons for
forecasting customer demand, ensuring effective inventory
management and aligning supply chain activities with customer needs and
market requirements. Now that you understand
these two concepts, let's compare two others, baseline demand and
promotional demand. Baseline demand for Green
Leaf Foods refers to the typical or expected
demand level for their organic pet food products over a specific time period, without considering
any promotions, events or other
exceptional factors. It represents the
regular sales volume that can be anticipated
based on historical trends, seasonality and
market conditions. Baseline demand forms
the foundation of forecasting providing
a starting point for estimating future demand, because at Green Leaf Foods, you want to ensure that you
have sufficient resources to meet the regular ongoing
demand for your products. Promotional demand,
also known as uplift or incremental demand, refers to the additional demand generated by
specific promotions, marketing campaigns, discounts, or other promotional activities.