Supply Chain Integration - Demand-driven strategies
3 important questions on Supply Chain Integration - Demand-driven strategies
A forecast is never completely accurate. What tools are used to control for this?
An important output from the demand-forecast and demand-shaping process is an estimate of the accuracy of the forecast: the forecast error. This is measured according to its standard deviation. This information provides insight into the likelihood that demand will be higher (or lower) than the forecast.
How can we analyze the supply chain and see if it can support the forecasts?
By a process called balancing supply and demand. This involves matching supply and demand by identifying a strategy that minimizes total production, transportation, and inventory costs or a strategy that maximizes profits.
Demand planning and tactical planning impact each other. An iterative process must be used to identify four aspects. Which aspects?
- The best way to allocate marketing budgets and associated supply and distribution resources.
- The impact of deviations from forecast demand.
- The impact of changes in supply chain lead times.
- The impact of competitors' promotional activities on demand and supply chain strategy.
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