How Is Demand Looking & the Critical Importance of Sales Forecasts
Industrial manufacturers are experiencing slumps across the board. The good news is that customers are not canceling orders; however, they are delaying BIG TIME.
Industrial manufacturers are experiencing slumps across the board. The good news is that customers are not canceling orders; however, they are delaying BIG TIME.
Disruptions abound no matter the supply chain. Aerospace has been particularly hard hit. Boeing's issues have plagued them the entire year.
As geopolitical and economic risks rise, executives become more concerned. Proactive clients are taking action to boldly invest where it makes sense while aggressively focusing on inventory and cost reduction of non-value added items/ work and also ensuring high customer service levels.
If you follow the stock market, you might think the economy is strong. As consumers, we are frustrated with the price of everyday supplies such as food, gas, and housing.
There is such a wide range of shocks that can happen to your supply chain and to the demand for what you’re making. Can you ever truly prepare? What kinds of projections are most useful, and how can you set yourself up for success if you do have the ability to anticipate a surge in demand?
Lisa Anderson, a supply chain expert and consultant who founded LMA Consulting Group, says projecting future demand is paramount when facing a demand surge.
Sales strategies and customer programs are pivotal to developing a demand plan in support of sales revenue growth goals. SIOP (Sales Inventory Operations Planning) will translate these sales forecasts into operations and supply plans for review with cross-functional teams to ensure the sales plans are fulfilled successfully and efficiently.
Disruptions have not stopped. China has been flying balloons over Taiwan. North Korea is threatening South Korea. Russia continues its war with Ukraine. Israel is at war with Hamas [...]
Although production and materials planning can be overlooked in its importance in most companies if going smoothly, it is cornerstone to success.
Clients are struggling to keep up with customer's changing requests. Order backlogs remain relatively high (depending on the industry), but customers are pushing orders out at the last minute, pulling orders in without notice, adding future potential orders, and changing requirements on the fly. Production is scrambling to keep up.