![]() 27 Nov 2020
![]() DemandCaster When people hear the word “planning”, many of them immediately make the connection with “inventory”. Granted, inventory strategy is a critical part of a company’s overall health. But planning today encompasses much more than just inventory. It covers the entire supply chain from the order of raw materials through to the distribution of finished goods. It’s especially vital in forecasting and managing demand and supply.
Robust planning ensures businesses stay ahead of the shifts in demand by allowing them to respond in an agile and cost-effective manner. And as planning models have evolved over time, companies have increasingly relied on supporting software. This has led to improved processes and furthermore, it empowers planners and decision-makers who can utilize real-time data and visualize the entire supply chain. But the impact of planning goes beyond inventory. Its reach can be felt in all areas of an enterprise to improve communication and help coordinate efforts. And with advanced planning software, other functional areas can leverage the same data and insights to optimize those areas of the company as well.
Areas Impacted by Planning
With a consensus-based plan aligned with both strategic and financial objectives, planning guides executives as they set tight, reliable, realistic, and achievable goals with confidence. Software allows for the creation of financial plans that utilize inputs from sales, production, inventory, and other areas within the company. Leaders can identify constraints and determine trade-offs at a high level to optimize business performance. Real-time data-driven insights and advanced analytics can increase supply chain efficiency to unlock cost savings and improved service levels. And by deploying best-in-class planning software from Plex DemandCaster, companies can realize impacts–and benefits–far beyond just inventory. When employed in the right way, advantages will be gained could potentially improve the health of the entire business.
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