LONDON: Infiniti Research, a leading market intelligence company, has announced the release of their new storyboard series on why demand management is the fundamental driver for business growth and strategy.
With increasing competition, market volatility, and changing customer demands, companies are facing difficulties in managing product demands and satisfying their customers. Also, instances of over-stock and stock-outs results in inventory issues. They further result in customer dissatisfaction, increased expenses, and loss of sale for the company. Finally, the end result is loss of company reputation, coupled with financial losses and customer churn. In the wake of these scenarios, most companies are leveraging demand management solution which can deal with nearly all of the above risks while enhancing their efficiency level.
Infiniti’s demand management solution has helped various organizations deal with issues pertaining to analyzing and estimating consumers’ demands and other challenges such as the availability of multiple channels and proliferating SKUs. Below we have listed some of our latest articles and success stories which will give solid reasons on why demand management solution is important for your business.
#1: A guide to the core components of demand management: One of the common challenges faced by companies is to understand the consumer demand for goods and services that they offer. This problem does not end with understanding demand patterns and purchase behavior of customers. The actual magic lies in managing these demands accurately. A demand management process involves a wide range of components depending on the unique processes of each organization. This article discusses all the key components of demand management and their benefits for an organization.
#2: Enhancing demand chain visibility with Infiniti’s demand management solution: Stock-outs are reportedly one of the biggest concern for businesses. For businesses that face stock-outs too often, there is a risk of losing customers. Also, it can hamper the overall growth of the company. This was the same case with a chemical manufacturer based out of US. As an organization that valued the importance of uncompromised customer service, the company approached Infiniti Research for a solution. Infiniti’s demand management solution helped the client to accurately manage inventory and enhance the customer experience.
#3: Healthcare providers increase reliance on demand forecasting: With demographic shifts and rapid changes in policies in the healthcare sector, predicting future healthcare demands isn’t an easy task. Our client, a healthcare company in North America wanted to improve their portfolio management ability by focusing on improving the efficiency of their services and responding proactively to market demands. Our demand forecasting solution not only supported the client to develop strategic relationships with customers and suppliers, but also enhanced collaboration to create an efficient and lean supply chain, and ultimately, a competitive advantage. Read this success story to gain detailed insights.
#4: Three must follow demand management best practices for medical device companies: Medical device manufacturers often face roadblocks when it comes to making their demand management process efficient. This often results in operational inefficiency and issues pertaining to fulfilling orders. So, to help you out, our experts have unveiled some of the demand management best practices in our latest article.
#5: Accurately predicting sales and allocating budgets with demand management solution: Overstock of products often result in financial losses, as companies are compelled to sell the excess products at lower costs. Our client, a food manufacturing company was facing similar challenges. They wanted to leverage Infiniti’s demand management solution to predict future demand patterns and respond proactively to changing customers’ needs. Our solutions helped them accurately predict product demand and fulfill customer orders, which subsequently enhanced profit margin for the company.
#6: What are the demand management best practices? In today’s competitive world, a number of companies are leveraging demand management solutions to meet the evolving needs of their business at every level. Demand management is a business process that enables organizations to respond to emerging situations in an effective manner by maintaining the right balance between supply and demand.
#7: Achieving average savings of $3.28 million with demand planning solutions: Today, the construction equipment market is at a crossroads. Therefore, companies in the industry are facing difficulties in sustaining their market share. Our client based out of Europe was struggling owing to the fluctuations in the market. They faced difficulties in managing the market demand, which subsequently resulted in profit losses for the company. By partnering with Infiniti Research, the client was able to survive this stiff competition and secure a spot in the European construction equipment market.
#8: Realizing savings of 27% with Infiniti’s demand and supply analysis solution: Inadequate supply and demand management can result in over-stocks or stock-outs. Therefore, it is imperative for companies to adequately forecast market demand and manage inventory. This success story highlights how one of our clients was able to achieve a 13% reduction on unfilled orders and increase demand forecast accuracy with a demand and supply analysis solution.
#9: Top demand forecasting methods for your business: Customer demands are extremely dynamic and unless organizations correctly chart out the demand patterns and ascertain the number of goods to be produced, the chances of overstocking or understocking of goods are likely to happen. Using demand forecasting methods, companies can find what customers are buying and improvise on products that are not coping well in the market. To help such companies, Infiniti has listed the top demand forecasting methods in this blog.
#10: Achieving 17% reduction in unfilled orders with demand management solution: A leading food manufacturer’s failure to anticipate the product demand not only affected their sales rate but also eroded consumers’ trust. This subsequently resulted in huge losses for the company. Read the complete success story to know the initiatives taken by our experts which helped the company in better inventory management and cost savings.