Align Supply and Demand through 3SC’s Consensus Demand Planning

1. Align Supply and Demand through 3SC’s Consensus Demand Planning Businesses that are concerned about product replenishment being constrained by supply or have to deal with low service levels and store stockouts need to improve their forecasting accuracy. With unpredictable consumer behavior, businesses need to have the right product mix on the shelf. Inaccurate forecasts lead to inventory imbalances that lead to stock-outs and overstocks along with unhappy customers. This is where businesses can rely on our consensus demand planning that improves forecast accuracy and reduces inventory through better communication and collaboration. Consensus demand planning has become a functional necessity in retailers' business models that converts companies from a supply chain to a demand chain business operation. Retailers are making use of our consensus demand planning to gain a competitive edge by understanding and predicting customer wants and needs. 3SC’s Structured Consensus Demand Planning Process

2. Different departments have different business goals and hence forecasters from these departments develop operational supply chain forecasts, tactical sales forecasts, and strategic business forecasts according to their key figures, time horizons, aggregation levels, etc. A method that combines different forecasting levels and different time horizons from an organizational and tool perspective is called consensus-based forecasting. Parties involved in the demand planning process within the company provide their individual forecasts after which a consensus meeting is held to come up with an overall demand plan that takes into consideration the business goals of all departments. All parties agreed demand plan is accepted and all parties feel responsible for this demand and relate themselves with the output, combining different demand streams into one figure. Different departments such as sales, logistics, and marketing after creating their own forecasts involve in the demand planning process. Opt for Consensus Demand Planning for Improved Financial Business Outcomes Companies very well know that when demand and supply are not properly coordinated then ludicrous situations emerge like manufacturing plants creating more products due to which the marketing segment has to reduce the price to get rid of inventory. This usually happens because of inaccurate input forecasts and long cycles that lead to stale plans that don't incorporate the latest information. Thus, businesses need to align supply and demand which is the basic purpose of the supply chain function and make all the difference between profitably creating and selling the products that customers are looking to buy instead of creating the wrong products that are not required. 3SC with its actionable, objective insight and smart solutions will help organizations make smarter, faster decisions to stay ahead.