As time gradually passes, the market or the customers changes their demands from time to time, leaving your business no choice but to adjust. A good company provides high-quality products and services while meeting the market’s ever-changing demands. Due to these customer activities, professionals developed demand management software to help entrepreneurs predict future market demands to prepare beforehand, resulting in a more optimized management system.
11+ Demand Management Software
5. Infor Demand Planning
6. Logility Demand Optimization
8. Oracle Demand Management Cloud
What is Demand Management Software?
A demand management software is a technology that enables you to perform demand forecasting efficiently. Demand forecasting is never simple, as predictions can happen or not. As a manager, it is essential to have an accurate forecast and details to prepare high-quality demand management and supply chain planning. Demand management software predicts future demand, allowing you to generate novel insights and efficient action plans. It also gives you access to features that help you to perform accurate calculations and data analysis. Such a tool can assist you in meeting your long-term demand management objectives, enabling you to provide quality assurance to your customers.
Including demand management software in your plans provides numerous benefits and advantages. Good demand management helps you develop intelligent and cost-effective procedures which will undeniably help your supply chain management and other components. Demand management software provides innovative and convenient features, assisting you in budgeting and forecasting effectively and efficiently.
Various technology firms developed demand management software that provides different innovative features and functionalities. As you are already aware, some software offers free trials while others do not; some provide free and premium features. Since they differ in quality, it is best to research and try the software firsthand to experience and evaluate which platforms offer the best features suitable for your business field. Below are few feature examples wise to consider in your research:
- Time & Expense Tracking
- Project Planning
- Requirements Management
- Resource Management
- Budget Management
- Collaboration Tools
- Business Dashboard
- Compatibility Testing
- Compliance Management
Aside from these, some more features and functionalities will be helpful to keep on your list.
Top 10 Demand Management Software
Infor has annual revenue ranging from $1-5 billion while employing 10-50 thousand employees. They provide features, such as advanced planning and scheduling, human capital management, prebuilt industry analytics, and more.
2. Infor Demand Planning
Infor Demand Planning provides data series modeling, periodic item forecasting, intelligent baseline forecasting, and more features. With annual revenue of $1-5 billion while employing 10-50 thousand employees.
Creation and maintenance of the Master Data, release/transfer from demand planning, lifecycle planning are few actions you can do using SAP. SAP has annual revenue of $2,147.5 million and 127,885 Employees.
4. Oracle Demand Management Cloud
Oracle Cloud Demand Management anticipates customer demand by combining proven forecasting algorithms with flexible data analytics. With annual revenue of $2,147.5 million and 196,083 employees.
Jira software developed by Atlassian providing administrator level, control project management, data modeling, and more features. With annual revenue of $746.6 million and 5,149 employees.
Vecco offers features such as demand planning, demand management, supply management, and more features. Vecco has annual revenue of $419 million and 1,043 employees.
7. Logility Demand Optimization
Logility developed Logility Demand Optimization provides features, including integrated business planning, demand optimization, inventory optimization, and more, with annual revenue of $41.8 million and 288 employees.
Budget management, budgeting/forecasting, client portal are few examples of features UMT360 provides to assist with your project. UMT360 has annual revenue of $5.2 million and 36 employees.
Rideamigos platform helps users by providing features such as multi-modal trip planning, gamification, event management, and so much more you can use, with annual revenue of $3.6 million and 25 employees.
Edison365 guides you with its features, including gamification, activity/news, feed agile methodologies, among others. With annual revenue of $3 million and 21 employees under their management.
Is demand management essential?
Demand management plays a critical role in developing and growing your business. Demand management comes after forecasting, where you try to analyze and predict future market demands. Demand management is the process of generating an action plan that includes supply chain planning such as inventory management, delivery optimization, risk assessment, and spend management.
What exactly are demand management challenges?
Forecasting, the first process, provides ideas for developing demand management, which can be inaccurate at times, resulting in flawed plans for your demand management. Demand management gives numerous challenges, including product over-specification, lack of demand information, discontinued products, unnecessary spending, and more problems that demand managers face.
What is the distinction between demand management and forecasting?
Forecasting is the process of evaluating past and current sales and assets to determine and acquire future market demands. The past and present records provide statistical analysis that can help you pinpoint the critical aspect of your production which obtained the most customer satisfaction. Demand management is the operation where you generate action plans according to your forecasting results.
Businesses require accurate forecasting, realistic and cost-effective demand management, and formidable flexibility to adjust to the ever-changing market demands. Since performing all of these procedures can result in uncertain forecast data and poor time management. Professionals developed demand management software to ensure accurate forecasting, improved time management, detailed data analysis, capacity planning, efficient sales, and operation planning.
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