Use historical demand patterns to determine what stock should be kept on hand in order to drive a better application of your resources.
To meet omni-channel service requirements and sales targets, you need to be able to consistently offer the right product, through the right channel, at the right time, place and price. Optimal demand planning and forecasting tools are crucial to do so. Understanding demand variability and what shapes this demand is key to selecting the appropriate demand planning and forecasting solution.
enVista’s experienced retail practice helps companies review historical demand patterns by SKU, seasonality, promotion, physical location and channel. The result: a demand plan forecast with the correct amount of stock required to meet fluctuating demand, taking into consideration variables such as safety stock, service levels and dynamically changing promotions and/or stocking strategies.
If you are aware of your demand forecast, you can easily identify what kind of volume to expect, when and where to allocate resources to accomplish your business objectives, and get to the right product, at the right time.