Demand Management for Retail Organizations

1. Demand Management for Retail Organizations Retailers employ a technique called "demand planning" to strategically plan how they will fulfill the demand of their customers and determine which retail items, at which level is needed to meet the need. When it comes to smaller retailers, it can be hard to properly plan for this demand, due to a lack of technology and access to historical data. More advanced retailers use programs, such as Anaplan, to predict trends and demand using statistical data, leading to high accuracy when it comes to demand planning. With accurate demand management, each part of an organization can be positively impacted, from supply chain to marketing. Importance of Demand Planning Avoid stock-outs Demand planning considers other factors that could impact demand, such as seasonality, consumer taste trends, and even events like a global pandemic. This information is essential for meeting your customer demand while avoiding stockouts since you'll accurately estimate how many units you will sell. Increase customer satisfaction

2. Stock shortages are not just disruptive to retailers. It is frustrating for customers to learn that a product they desire is unavailable. This issue can be resolved by demand planning and scenario planning. With Anaplan, retailers can use “what-if” planning to address multiple situations, such as delayed materials and economic variables. With effective strategies and software for demand planning, you can concentrate on providing consumers with the great experiences they expect and plan accordingly for shifts in the marketplace. Inventory optimization Demand planning can help firms avoid the dangers of overstocking, such as higher inventory carrying costs and financial difficulties that need product discounts or other temporary steps to reduce overstocking by swiftly selling inventory. It can also help decrease the mark-downs and clearance events. Demand management for retailers is an essential function that can lead to many financial gains and losses. With a proper demand planning tool, like Anaplan, retailers can see a high ROI with throughout the business by accurately determining the product needs. Contact Details, Company Name: Accelytics Email: info@accelytics.com Phone: +1 877 211-7551 Address: 2437 Bay Area Blvd Ste 457 Houston, Texas 77058, US Website: https://www.accelytics.com