Effective demand forecasting software creates accurate, data-driven plans.
Recent studies show that 85% of all companies implementing a formal demand management program have generated significant performance improvements. Average gains include the following:
- 13% improvements in overall forecast accuracy
- 24% gain in inventory turns
- 5% improvement in gross margin
Source: Aberdeen Group, Demand Management Benchmark Report
With comprehensive overviews of market demand, you can raise demand forecast accuracy. And by sharing realistic demand plans with customers and supply chain partners, you can coordinate activities for timely, cost-saving efficiency.
A demand management software suite enables you to make profitable decisions about purchasing cycles and quantity levels, from product rollout to product retirement. You’ll have the ability to enhance your customers’ experience, boost customer service, ensure successful promotional support, and stay on top of market changes.
New or custom demand management software enables you to:
- Improve demand forecast accuracy
- Reduce inventory costs
- Eliminate redundant and obsolete inventory across the supply chain
- Accelerate product introductions
- Increase gross margins
- Proactively identify risks and opportunities
- Decrease or eliminate expediting costs
Let’s segue from business to healthcare for a moment. In the past few years, the advancement of predictive analytics has improved hospital staffing. Predictive analytics can enable hospitals to accurately predict patient demand, staff the appropriate clinician, anticipate point-of-care needs, and improve the scheduling process.
An optimal staffing predictive model needs to aggregate data from multiple sources to capture insights from wait times, staff competencies, demographics, historical trends, holidays, geography, seasonal conditions, patient patterns, acuity levels, and so on. Models can also incorporate local factors that can cause a spike in ER visits such as sporting events or weather.
Engage a successful, seasoned thought partner to get a value-laden perspective.
Our Austin, Texas location keeps us at the epicenter of predictive analytics and data-driven innovation and keeps our global data management capabilities and services at the forefront of our industry.
Email us at kcerny@mia-consulting.com or call us at 512.478.3848 to start a friendly, productive conversation.