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It's no wonder that demand forecasting is gaining more and more proponents in the corporate context.
Understanding the future consumption of products from industries that engage in indirect sales is a way to anticipate changes in a volatile market and adjust production accordingly.
And it's not without reason: comprehending product consumption is essential for industries to plan their entire operations, optimize logistics, and adjust stocks strategically throughout the production chain.
However, it's a misconception to think this process is straightforward. Besides complex calculations, it requires analyzing a large volume of data accurately.
Thus, by combining internal information with insights from external indicators and data from distributors, it's possible to grasp product consumption patterns and make accurate demand forecasts.
But how does one practically achieve this?
To show you one of the pathways and best solutions to this problem, we've created this content. Interested in learning more about the subject? Just keep reading!
The need to understand product consumption and forecast demand
Today's market is extremely volatile and driven by consumer trends. For industries with indirect sales that make decisions based solely on sell-in data, the challenge of understanding product consumption becomes even more complex.
In such cases, they face a demand forecasting process that relies on less accurate data.
The organization of this information tends to be decentralized, often residing in spreadsheets or text documents.
The lingering question is: how can accurate demand forecasting be achieved when the company and the responsible parties have such limited data sources?
This is a critical consideration, as understanding product consumption is a purely analytical activity.
Moreover, it's a crucial aspect of the success of Sales and Operations Planning (S&OP), serving as the foundation for operational planning.
However, its execution hinges on the quality and diversity of available data. At these times, it's essential for those responsible to have close ties with all areas of the business.
After all, in businesses like these, coordinated actions are crucial. This naturally entails a basic integration of data between the manufacturer and their distribution channels.
But is that enough? Consider the reality of your industry.
How often has inaccurate demand forecasting adversely affected your production plans?
Certainly, many companies prepare for mid-course corrections, but these adjustments often incur additional costs for the business.
Moreover, what happens in months where unforeseen demand fluctuations occur? The impact directly affects the business's reputation and finances.
The biggest problem: independent analysis of information
In the end, the main "villain" in such situations isn't even the information gap between industries and their distributors, for example.
This separation is natural, especially in a rapidly evolving market like Brazil's (where processes are independent and only now beginning to be integrated).
The issue lies in the lack of data integration.
Depending on independent analysis of information makes it easy for a forecast to diverge from the actual demand of the following month. It's an outdated method still used by many companies.
Even after data integration, there's still a crucial missing component: processing this vast amount of information and interpreting it. Without the use of artificial intelligence, there wouldn't be enough time to process and utilize this information for strategy adjustments.
For many companies, what's lacking is an artificial intelligence solution like Demand Forecast.
This is a way to gather accurate internal and external data, process it on a robust cloud platform, and use neural network algorithms to predict product consumption by region, product, and customer profile with over 90% accuracy.
O Forecast de Demanda é uma plataforma de inteligência artificial que cobre todos esses gaps que mencionamos acima. Funciona como uma solução avançada para o seu negócio entender o consumo de produtos.
Predict the demand for your products: the potential of Demand Forecast
The major challenge for most companies looking to strengthen their demand forecasting process is: "how do I process all the data available to me?"como processar todos os dados que tenho à disposição?”.
This is an underlying challenge in production planning. Even if a company aligns with market demands, data collection only becomes valuable if it can be processed—transformed into information that generates valuable insights for your business.
This is precisely the proposition of Demand Forecast!
With the solution developed by Implanta, industries can anticipate consumption expectations, understanding what and how much their supply chain agents might purchase of their products.
All of this is done precisely, based on real data, leveraging the highest technologies such as Artificial Intelligence and Machine Learning.
Demand Forecast is a robust solution capable of handling the large volume of data generated by and for your organization.
Why not get ahead of the competition, accurately and efficiently measure your demands, and plan the next steps for your industry?
Contact Implanta IT today and discover how Demand Forecast and their suite of data intelligence solutions can benefit your business!
