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Identifying opportunities and creating resiliency through proactive demand planning

Author

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  • Myers, Alyssa

    (RXO, USA)

Abstract

Demand planning is the process of forecasting and influencing customer demand for products and services. It is essential for optimising business performance, reducing costs and driving results. Many organisations, however, manage demand reactively, responding to changes in demand at or after the point they have been detected. A reactive approach to demand planning can put organisations at a disadvantage, both in terms of capitalising on opportunities in a timely manner to create competitive advantage or putting actions in place to mitigate risks that are core to organisational performance. This paper proposes that a proactive approach to demand planning, leveraging advanced analytics, artificial intelligence (AI) and collaborative platforms, can identify future scenarios and enable faster and better decision making.

Suggested Citation

  • Myers, Alyssa, 2024. "Identifying opportunities and creating resiliency through proactive demand planning," Journal of Supply Chain Management, Logistics and Procurement, Henry Stewart Publications, vol. 7(2), pages 149-157, December.
    • Handle: RePEc:aza:jscm00:y:2024:v:7:i:2:p:149-157
    as

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    More about this item

    Keywords

    demand prediction; AI; pricing automation; business strategy; forecasting;
    All these keywords.

    JEL classification:

    • L23 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Organization of Production
    • M11 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Production Management

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