Businesses nowadays struggle from the ferocious competition, leading entrepreneurs to encounter more business challenges; to lessen such challenges, our team prepared the best forecasting tool options for you to choose depending on your preferences. You can stay here in this article to read one of the best demand planning software and decide which is the perfect fit for your business.
15+ Demand Planning Software
1. SAP Integrated Business Planning
2. Demand Planning
4. Logility Solutions
5. Oracle Demantra
7. Inventory Optimization
8. Forecast Pro
10. Atlas Planning
12. Luminate Platform
What is Demand Planning Software?
A demand planning software is a tool that exists to help you entrepreneurs acquire forecast accuracy regarding your supply chain management and marketing analytics for months or even years. It allows you to record your past and current inventory management and sales rate, demonstrating an intelligent dashboard illustrating your business assets’ analytics and logistics.
Demand planning software can display a logistics visualization of your business plan data and analysis statistics, making it easy to create and visualize what-if-scenario actions. As we all know, consumer trends and desires are evolving, which is why demand planning software is an essential tool for your business to obtain ideas to adjust and adapt your business to the ever-changing market.
With demand planning software on your hands, you can see possible results depending on your chosen action plan, as this planning software illustrates an accurate inventory and sales forecasting, allowing you to understand and improve decision-making. Such a tool helps you develop a high-quality strategy and roadmap, leading you to worry less and plan more effectively.
Demand planning software has different intelligent features which are undeniably helpful to your forecasting. However, to be sure, you will need to research various demand planning software to know which software is more capable of providing practical and realistic measurement and analytics of your business prospects. Evaluating which is the best demand planning software helps you obtain the best quality and contributive tool. Below are few examples of features you should consider in your research:
- Sales and operation planning
- Supply chain visibility
- Raw materials and manufacturing
- Statistical analysis of sales and inventory
- Master data maintenance
- Activity dashboard
- Alerts notification
- Sales analytics of trends
Top 10 Demand Planning Software
1. SAP Integrated Business Planning
SAP Integrated Business Planning is user-friendly, which provides clear visualization of your stock and sales analytics. SAP’s annual revenue is $34.1 billion, with an estimated 103,876 employees.
2. Oracle Demantra
Oracle Demantra by the oracle is a demand management solution that helps companies manage forecasting, operational and strategic planning, optimizing business promotion, and more, with $40.8B annual revenue and 136,000 members on their team.
Wrike is professional service software trusted by more than 20,000 companies for forecasting analysis; it is a software tool known for its contribution to smooth project processes. Their revenue is approximate $100-500M with 500-1.0K employees working under them.
4. Logility Solutions
With an annual revenue estimation of $25-100M with 250-500 employees as part of their team. Logility Solutions developed by Logility are known for their advanced analytics, which automates planning, providing a more convenient planning experience.
Netstock is designed for small businesses to large corporations, with intelligent features such as a sales trend analysis. They earn up to $19.5M a year, managing 98 employees.
6. Inventory Optimization
Inventory optimization is a good and strategic tool for demand planning and supply chain made by Demand Solutions company with $16.9M current revenue analysis and 25-100 employees under their management.
Relex is a planning software ideally for retailers, wholesalers, and manufacturers, in some cases, they said. With a revenue of $25.100M per year with 500-1.0k employees working under them.
8. Atlas Planning
Atlas planning is a software tool developed by John Galt Solutions Company to enable professionals to acquire the ability to make practical and intelligent decisions in the supply chain with confidence. They earn up to $5.0-25 million with a count of more or less 150 employees.
9. Forecast Pro
With an estimation of $5.0-25 million annual revenue with 25-100 employees, forecast pro is easy to use software tool allowing users to save time while planning short and long-term goals conveniently.
With an earning of up to $0.9 million per year with ten employees, stock IQ provides a software tool to help more entrepreneurs. Stock IQ is a software tool also designed for wholesale distribution, manufacturing, eCommerce, retail, food and beverages, third-party logistics, industrial supply, and even more.
Why do we need demand forecasting?
As an entrepreneur, demand forecasting is one of the primary and essential steps you need to foresee the future market will possibly demand. This way, you can set operational plans for your products and services, leading to success and profits. Improved inventory management, product lifecycle management, correct and fair product pricing, and better decision-making are few examples resulting from demand forecasting.
What is the benefit of using specialized demand planning software?
Effective demand planning software can help supply chain managers accurately predicting the company’s product production and expected sales. Such an action plan is crucial to reduce inventory cost but increased accuracy and efficiency instead. The future is unpredictable; that is why as an entrepreneur, you have to use forecasting tools to help you break down market possibilities and execute production and marketing planning confidently.
What is the demand planning process?
The demand planning process is an operation that allows business people to see ahead and prepare for contingencies. As we all know, the market has ever-changing demands as time passes by, which is why the demand planning process exists to guide entrepreneurs to generate a roadmap that prevents excess inventory and supply chain disruptions.
Running a business is never simple; to lessen obstacles, costly ingredients, and damages, you will require a tool that helps you predict possibilities closest to reality. With demand planning software on hand, you not only improve your inventory and sales forecasting but can also track the strengths and weaknesses your production has, leading you to enhance weak points. Choose the best software suitable for your business that promises a brighter future.
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