Managing demand effectively is fundamental to optimizing your chemical supply chain. If demand is the force that drives the supply chain a poor demand plan forces all the downstream decisions in the wrong direction. A stellar demand plan stands as the basis for your company's production, inventory and, ultimately, overall supply chain costs. So, accurate prediction and timely fulfillment of demand are essential to success.
Unfortunately many organizations face great difficulty predicting demand and struggle with 60-80% accuracy. High performing companies invest considerable time and energy in improving their demand planning processes. Simply moving from spreadsheet-based forecasting to more powerful tools can deliver best-in-class performance, improving demand accuracy by an average 24 percentage points*.
The WAM Demand Planning solution:
- Promotes collaboration with customers and within commercial supply chain planning teams
- Normalizes historical sales data, correcting for outliers and anomalies and reducing human error
- Uses a tournament statistical forecasting approach to enhance the consensus forecast solution
- Integrates the consensus demand plan downstream into holistic sales and operations planning process
Companies that make the transition from average to best in class have significant impact on inventory holdings and distribution production costs. Effective demand management requires several key capabilities, each met by the WAM Supply Chain Solution, including:
achieved by blending statistical analysis, customer projections and the knowledge of your sales and service teams
WAM provides the powerful and flexible forecasting tools needed to develop timely, accurate forecasts. The process begins with a statistical forecasting engine that provides a first-cut projection based on methods and criteria tailored to your business. This statistical forecast is then updated by the sales and planning teams to achieve the consensus plan.
for maximum profitability
Advanced analytical techniques map your demand forecast across the supply chain. Get sales and production plans that accommodate your capacity limitations. Product and customer mix can be analyzed interactively to find a business blend that improves the utilization of your equipment.
to improve customer service response
The WAM Supply Chain Solution provides the ability to plan an appropriate response to demand so your company meets customer needs while producing and distributing materials profitably. It allows real-time inventory synchronization and analytic support for intelligent order-taking.
The WAM Supply Chain Solution supports all of these capabilities and delivers the information you need to achieve superior customer service, lower inventories, reduced working capital requirements, better use of production assets, and increased profitability.
*source: WAM Systems Process Industry Benchmarking Analysis 2006-present
As a supply chain professional, you must focus your energies on achieving best-practice goals. How do you initiate an enterprise-wide effort to improve customer service, inventory, scheduling? By proactively engaging in successful strategic and tactical planning. The WAM Supply Chain Solution helps you make smarter decisions based on profitability, attain global supply chain visibility, support for collaboration and assists in determining the right safety stocks to meet customer service levels. To make the critical decisions that you must make on a daily basis, you must have accurate, timely data and planning technology that understands how your company operates. Let us show you how WAM's supply chain planning solution can provide you and your team with the right data and the right time and place.
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demand planning
