Demand Planning Software Market – The Traditional Demand Planning Systems Towards The Demand Planning Software Solutions

A demand planning software is a computer based program which helps in driving the demand planning process by integrating historical sales data, relevant business information, and statistical analysis to create long range estimations of anticipated demand. User inputs like impact of marketing promotions, new product developments, its launches and discontinuations, rebates and market intelligence, and pricing discounts are also considered by the software to create detailed version of demand plan. Some of key benefits include increased speed, enhanced accuracy, higher efficiency, cost savings and flexibility and scalability. The growth demand planning software among enterprises is very fast owing to higher data processing speed of software and capability to handle multiple users.

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Earlier Microsoft excel was being used for demand planning, budgeting and accounting owing to its user friendly tools. However Microsoft excel is not being designed for multiuser collaborative work and prone to consistency. Thus, various large and small & medium enterprises (SMEs) are shifting towards demand planning software solution for efficient demand planning. As accurate forecast tends to be critical measure of supply chain optimization, demand planning enables the creation of reliable sales forecast.

Major systems involved in the demand planning include understanding vital forecast principles; add systems for planning and forecasting, recognize key aspects impacting the demand level, classify and understand customer segments, select suitable forecasting methods, build a system for measuring performance and error rate of forecasts. Better forecasting eventually helps in improvement of enterprise agility by maximizing the planning cycle for the given process and organization. The main drivers helping in the growth of the demand planning software market include ever changing customer demands, preferences and expectations.

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This has led to the huge shift from the traditional demand planning systems towards the demand planning software solutions. These solutions help in effectively forecast customer demand. This helps enterprises especially retailers to plan better for future inventory and production. The demand planning software systems help in improving sales collaboration, budgetary planning and forecasting. It helps in improved in stock availability of all season ready stock, better vision of variation in demand helps in framing effective marketing strategies, lesser wastage of stock, cohesive and seamless relationship between all tiers of supply chain, improved productivity of planners across all tiers of supply chain.