Demand planning software can help companies forecast future sales and inventory needs. Companies use demand planning software to accurately forecast product demand in order to optimize production. It helps ensure that stock levels are sufficient to meet market demand while curbing wasteful practices. This encourages more efficient budgeting, ordering and production planning.
This software uses sales and inventory data to forecast product demand. Using machine learning, demand modelling, and predictive analytics, identify market trends that allow companies to efficiently manage production and inventory. It is used by demand planners, supply chain managers, and sales professionals.
What is the WrxFlo Demand Planning System?
The WrxFlo Demand Planning system is a system designed for manufacturers who want to move away from an excel based inventory forecasting solution, to an automated cloud-based solution.
This system provides automatic plans, based on demand forecasts, and historical trends. It also gives insights and breakdowns and gives you the ability to manage your inventory tops down and bottoms up, while providing an overview that supports the S&OP cycle
Benefits of the WrxFlo Demand Planning System
1. Demand planning can help you avoid overproduction
Demand planning also helps minimize the bullwhip effect, the phenomenon in which small fluctuations in retail demand amplify the demand of earlier players in the supply chain, such as suppliers and manufacturers. More accurate demand forecasts and better communication among supply chain participants can help minimize the bullwhip effect.
Once this is done, you can adjust your sales and production plans to produce exactly the quantities you need. Ideally, you have enough inventory to meet customer demand without excess. This benefits your company’s supply chain and inventory management.
2. Demand planning is essential to ensure that your company can meet future demands
Good execution of the WrxFlo demand planning software for any business requires an organized and systematic approach. For example: setting specific goals and then achieving them, assigning work based on key strengths or employees, entering accurate data, using leading demand planning software, etc.
Demand planning is a cross-functional process that helps companies meet customer demand for products while minimizing excess inventory and avoiding supply chain disruptions. It increases profitability and customer satisfaction and increases efficiency.
3. Demand planning can help you predict future shortages
To achieve this goal, demand planning combines sales forecasting, supply chain management, and inventory management. First, it uses data from internal and external sources to forecast future
demand. This forecast can then inform your sales and operations strategy, allowing you to plan how much to buy or manufacture to meet that demand.
The WrxFlo demand planning software helps predict consumer demand so you can manage your company’s supply chain operations. However, during capacity planning, forecasted demand is compared to available resources. That is, capacity planning balances the tension between supply and demand.
How the WrxFlo Demand Planning System works
The WrxFlo Demand Planning system is an easy-to-use cloud-based system, designed specifically for the client.
The data collected using this software is automated and therefore eliminates human bias from the studies conducted error. It provides warning signs, and flags when inventory is low ahead of time, using historical demand to predict future plans and using lead-time sensitivity and seasonality.
WrxFlo Demand Planning System functions and capabilities
The WrxFlo Demand Planning system can do several things to improve efficiency for your business, some of the features of the WrxFlo Demand Planning System include:
- Plans factory material and component status in real time as customers place orders
- Ability to drill down several levels on a bill of material and the planned usage of components across multiple products
- Determine the correct delivery date to provide to the customer based on the supply chain status
- Predict when to order each component based on demand and lead time from suppliers
- Predict when and what each customer will order next based on their historical buying patterns and plan material based on the forecast demand
- Demand scenario planning – lead time sensitivity, seasonality
- Track where critical components are within the supply chain
- Determine for planners which order to release to production to optimise the process
- Real-time Dashboard for procurement based on production requirements
- Plan and track demand within production and across departments
- Auto call off transport trailers from logistics to ship the product
Examples of how the WrxFlo Demand Planning System has been used
One example of a successful implementation of the WrxFlo Demand Planning software involved this global manufacturing company that wanted to plan future demand and predict what orders would be placed over the coming weeks/months i.e., review actuals, stock levels and forecasts. The team did not have any visibility on this, which led to inventory shortages. Their main plan of record was an excel spreadsheet which captured the historical data. Additionally, it took a lot of time to maintain and use this spreadsheet.
WrxFlo introduced this solution which involved connecting their supply chain stakeholders and providing more control over inventory planning. It allowed the team to predict when the next order was due.
The dashboard gave the team details on customers, part groups, part IDs, last ship dates, days between orders, quantities, next ship dates average days between orders, and average quantities. The
solutions enhanced the ability of demand planners to share real-time data and quickly react to changes in supply and demand.
WrxFlo Demand planning software is a great tool for businesses that need to forecast future demand for their products or services. The software allows you to create realistic demand forecasts for a variety of products and services, and it also allows you to track and analyse your company’s demand trends over time. This information can help you identify areas of growth or decline in your demand for products or services, and it can also help you make strategic decisions about how to allocate your resources.
If you’re looking for a tool that can help you forecast your company’s future demand, then you should definitely consider using WrxFlo Demand planning software. It’s a reliable and user-friendly tool that will help you make informed decisions about how to allocate your resources and meet future demand challenges.