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NetWORKS Demand
Your competitor just lowered the price on their product. You are launching new products and marketing campaigns. Can you accurately and proactively predict future customer demand to avoid costly mismatches of demand and supply? Can you incorporate demand distortions from seasonality, new product introductions, and other events into your forecast? Are you able to quantify key drivers of demand to maximise your sales and marketing effectiveness? Can you effectively collaborate with your customers to improve forecast accuracy?
Costly mismatch of demand and supply results in missed sales opportunities, lost profits, excessive expediting costs, lost market share, and poor customer service. To maximise sales and marketing effectiveness, companies must accurately predict future customer demand and use this information to drive their business - from supplier management to manufacturing to distribution.
NetWORKS Demand acts as an early-warning system, predicting future customer demand, alerting of potential supply problems, and finding patterns undetected by traditional solutions. It enables your company to understand demand drivers, to more accurately predict customers' future needs, and to unify disparate planning processes through its scalable and web-based multi-model architecture.
To help you identify critical factors that drive demand, NetWORKS Demand offers multiple forecasting algorithms in conjunction with advanced causal modeling. Using 'best fit' techniques, it quickly determines the forecast algorithm that best suites your business, and the exclusive 'AutoTuner' feature automatically determines the optimal parameter settings, allowing you to significantly reduce cycle time.
NetWORKS Demand also provides intelligent event modeling capabilities and allows for management overrides. By including both market planning and demand planning capabilities, NetWORKS Demand links product mix, promotion, and price analyses with traditional demand forecasting. And unlike conventional forecasting tools, it enables the simultaneous tracking and understanding of demand along multiple dimensions, including sales channels, geographies, and product hierarchies.
NetWORKS Demand's web-based collaborative forecasting enables you to monitor demand throughout the trading network - starting with your direct customer, through your customer's customer, and all the way to the end customer. By helping to ensure that all trading partners are planning according to the same forecast, NetWORKS Demand smoothes demand variation across the trading network to facilitate more effective collaboration.
Combining advanced forecasting techniques with real-time collaboration, NetWORKS Demand optimises the entire trading network. It enables effective communication throughout your trading network to help you plan demand fulfillment strategies with direct input from your customers - eliminating buffer inventories, cycle time, and, most importantly, cost.
Avoid costly mismatch of demand and supply by:
- Providing early-warning signals to changes in demand;
- Accurately anticipating customer demand;
- Identifying the most profitable demand drivers;
- Multi-model framework > Increases responsiveness;
- Consensus process > Maximises accuracy;
- Advanced causal modeling > Increases revenue;
- Life cycle forecasting > Minimises obsolescence;
- Cannibalisation modeling > Optimises product mix;
- Event management > Improves demand creation;
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