5 Ways to Get Closer to Your Customers With Demand Sensing
What if your current data could tell you which perishables would be in high demand in the next one month?
What if you could stock just enough inventory to meet customer demand over the next quarter?
What if you can plan the OTIF (On-time, in-full) deliveries effectively to enhance customer experience for all your stores at once?
Demand Sensing can help you achieve the above effortlessly, by simply using your existing demand and supply data and without any additional fancy interventions.
Demand Sensing uses improved new-age digital technologies to analyze existing data sources, which are an outcome of your own historical data trends and specific real-time signals. As an outcome, you can easily identify when, where and how customers will buy products, in what quantities, variants and locations. All of this before they actually even do!
That’s not all, we are talking about solid on-ground benefits for your day-to-day supply chain activities:
- Reduce forecasting errors by up to 50% with real-time data insights
- Boost inventory accuracy by up to 20% with optimal stock tracking
Multi-fold benefits across your top, middle and bottom layers of the supply chain:
1. Your top line experiences a dip in stock outs which can lead to a 10% jump in sales – A great boost to the C-level decision makers!
2. The bottom line benefits with 5%- 10% reduced operating costs due to automated planning systems – A great way to motivate your front line workforce!
3. Your finance team has more working capital in hand as lower safety stocks cut overall throughput time by almost 20% – A great way to free up cash reserves for everyone!
Here are 5 ways Demand Sensing can help you get closer to your customers by creating a real-time connected supply chain ecosystem:
Time to Get Closer to Customers- Faster, Better and Smarter
Demand Sensing can help you overcome existing latency challenges and eliminate conventional supply chain lag by constantly reducing the time between market events and the response to them.
By giving supply chain managers intelligent and timely data insights, it helps create a more synchronised and intuitive supply chain ecosystem.
ThroughPut’s Demand Sending enables you to easily predict future demand patterns to streamline the flow of materials, processes, output and free cash flow, across your integrated Supply Chain.
Click here to take a quick demo and start experiencing this data-driven planning and forecasting tool, to accurately analyze and correlate demand insights and respond to fluctuating margins and inventory needs.