Demand Management and Forecasting Software Systems

If you believe the rampantly widespread misconception that it is still possible to manage and share high level demand and supply chain management using traditional spreadsheets, you may want to revisit that assessment. 

Not only is the task overwhelmingly ardours, riddled with a number of unpredictable conjectures; one can also suffer practical losses.

For instance, a company can stock excessive inventory, which lead to the classic problem of storage. What follows is a series ofpredictable but unavoidable situations that exacerbate the problem further like expensive stock holding, customer dissatisfaction, and exorbitant transportation costs.

The end result: a drastic loss of goodwill and reputation, coupled withincreasing expenses and declining revenues. Sounds like a scary prospect, doesn’t it? It surely is and also very real.

Demand Planning & Forecasting Software Systems: The Way Forward

In the wake of these very probable scenarios, it is only natural that most companies are adopting (or considering the implementation) technologically sound demand management and supply chain software which can deal with nearly all of the above risks while enhancing their efficiency level.

As an enterprise that values the importance of uncompromised customer service, most firms are cognizant of the fact that there is a real need to exert greater control in every aspect of their business.

Whether it’s about defining deadlines/parameters, or setting customizable options and automating tasks, the solutions are here to offer you succour.

Scope of a Demand Management Solution:

  • Makes accurate demand forecasts on various levels.
  • Cuts down lost sales and avoidable expenses.
  • Reduces the costs of inventory carrying.
  • Enhances financial assessments of projects.
  • Better profitability.
  • Intelligently identifies marketplace trends, changes in demand.
  • Better utilizes the investments made by companies.
  • Processes future and hypothetical comparisons between firms.
  • Ensures seamless integration with existing databases and other MRP/ERP/Enterprise level solutions.
  • Generates supply plans and executing purchase orders in a seamless workflow.

Four Recommended Demand Planning Solutions

In the wake of cut throat competition, a number of companies are launching demand management solutions to meet the evolving demands of their business at every level. 

Needless to say, not everything fits the bill because the requirements and targets of each company are different and unique.

That being said, here are five world class demand and supply management solutions that cater to both small and large enterprises.

Netsuite

NetSuite has established itself as one of the significant suppliers in the forecasting system niche, with its intelligent demand planning servicesoffering top quality inventory management services.

One of the biggest advantages of using NetSuite Demand Planning software is that it enjoys integration with CRM and other financial modules, which let you combine its supply planning features to provide your customers with exactly what they need.

Core benefits

Calculate Demand plans on the basis of Historical Data. This basically lets you select items to make accurate demands projectionsdepending on severable variables. Users can also choose various parameters for projection methods. These include sales forecasts, data, trends, fluctuations and price differences.

The great advantage of using Netsuite solutions is that they also allow you tocustomize the results of demand planning projections to meet your visceral eeds.

Developing supply plans and creates automated purchase orders

You can create intelligent and realistic purchase orders on the basis of predefined or modified parameters to execute the plans effectively. 

Also, both posting and non-posting transactions can be accommodated while considering other aspects like multi-part assembly driving orders and acquisition of raw materials.

Make sensible forecasts on inventory levels: Uses appropriate features to project expected purchases and sales orders. Additionally, will also make assessments on how these projections would impact the flow of inventory.

IBS Enterprise Distribution Software

IBS boasts of more than 30 years of experience in providing customized demand and forecasting software to distributors, manufacturers and SCM players. Its 40-odd modules are being deployed by over 2000 clients throughout the globe, which has positioned it as one of the largest companies.

Core benefits

Integration: Provides a 100% integrated suite for manufacturers and distributors focusing on these areas: warehouse management, inventory handling, accounting, business intelligence, manufacturing, e-commerce and CRM.

Flexibility

It updates the solutions to accommodate a plethora of enterprises. In addition, the support from these solutions is offered by a single vendor, which eliminates unnecessary confusion.

Better handling of resources

Entities are able to better manage supply chain while implementing sound planning decisions to let their users make better decisions based on prevailing market conditions.

Fishbowl

Fishbowl Inventory is primarily suited for small to medium sized enterprises whose yearly earnings are in the range of $100 million. 

Such players are usually keen to get an affordable inventory handling solution without compromising on the quality or adopting an expensive ERP system. It is easy to understand, use and implement.

Core benefits

Affordable and flexible enough to address and innate requirements of firms that are keen to exert better control over their inventory management and raw material purchases.

Being inventory oriented

As opposed to many other solutions that are tedious and company-specific, this demand and supply management product from Fishbowl is inventory-centric approach

It accommodates plenty of scope for asset management, raw materials processing, budgetary intricacies, customized reporting and bar coding.

Support

Provides reliable training and support services via web tutorials, videos, and in-house experts.

Novatus Contract Lifecycle Management (CLM)

Here is another world-class company that is renowned for providing customized, comprehensive-demand-management solutions to small and large corporations. 

Using its intelligent solutions, companies are able to keep a better track on various nuances of contract preparation and management, which form a vital part of any enterprise.

Core benefits

Completely automates the full spectrum of CLM process, ranging from creation to contract approval and renewal. Incorporates a range of features which augment and expedite management of past, current and future contracts. 

These include easy-to-understand templates, alert reminders, customisable dashboards, etc.

Online redlining

Offers web redlining feature to easily monitor, share and assess the changes made even as the contract is being negotiated.

Usage convenience

Available as: on-premise as well as internet-based, depending upon the company’s requirement.

Other benefits

Enhancements alerts, updates and other modes of information are part of the system suite.

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