Demand planning and forecasting today take a center stage as it empowers businesses to understand consumer preferences and demands more comprehensively. As markets shift, consumer behaviours evolve, and global events exert their influence on supply chains, businesses find themselves navigating uncharted territory. Demand planning and forecasting helps anticipate these changes, provide visibility into future demand and facilitate risk assessment in the supply chain that strengthens business resilience.
As customers become more digitally connected, it is important for businesses to provide a consistent and engaging experience across these digital touchpoints along with the offline channels. This makes it important for organisations to work towards developing a robust, cohesive CX strategy to improve omni-channel experiences. Organizations recognize the importance of harnessing cutting-edge technologies like Artificial Intelligence (AI), Machine Learning (ML), chatbots, self-service portals, data analytics, and predictive analytics to streamline customer interactions across various touchpoints. The integration of these technological solutions not only empowers marketers to analyze data for personalized customer experiences but also enables them to make precise predictions regarding consumer purchasing patterns.
Beyond operational efficiency, demand planning and forecasting play a pivotal role in enabling organisations optimize their inventory. Data driven insights through various forecasting methods empowers businesses to optimise their inventory levels with remarkable precision. Excess inventory is minimised, preventing the tying up of capital and storage costs, while the risk of stockouts is significantly reduced. Armed with accurate projections, organizations can align their production and procurement processes more effectively, ensuring that inventory levels are in harmony with anticipated customer demands.
In an era where innovation and adaptability are key to survival, demand planning and forecasting techniques provide businesses with a strategic advantage. By accurately predicting customer demand, businesses can position themselves as industry leaders, offering products and services that resonate with consumers. This ability to capitalise on emerging trends and technological advances sets the stage for sustainable growth and long-term success.
Recognising the paramount significance of demand planning and forecasting in shaping modern businesses and building on the success of the two editions of its Supply Chain and Logistics Conclave, Team Marksmen Network is now proud to announce the inaugural edition of the "Demand Planning and Forecasting Conclave". Set to take place on December 7th in Mumbai, this strategic industry platform is poised to unite thought leaders, experts, and luminaries in demand planning, forecasting, and supply chain domains. The event will serve as a singular destination to bring to light the pivotal role of demand and inventory planning within supply chains.
This unique initiative has been shaped by insights gleaned from an industry-wide consumer study conducted by LeadCap Ventures, with brands appraised on the following parameters: