Estimating future demand requirements is a critical step in developing warehousing and manufacturing solutions. One of the biggest challenges for organizations is the ability to forecast future product demand. Forecasting impacts the entire supply chain, including production lot sizes, shipping costs, inventory levels, and investment in equipment and technology within the facility. The anticipated demand on the supply chain sets these decisions in motion, resulting in varying operating costs and investments to ready the supply chain. With this much pressure on demand planning, it must be performed with accuracy.
TranSystems follows a multiple-step process to assist clients with demand planning. This process starts with reviewing historical sales information and creating/validating statistical forecasts. Ideally, our clients are collaborating with their suppliers and customers in developing their forecasts. TranSystems can assist the process by evaluating inventory turns, cross checked with the velocity of products within the facility. If there is a high amount of inventory for the slowest moving products, and more of that product has recently been received, a red flag is posted on those goods.
TranSystems is experienced in working with multiple forecasting systems and understand how to merge the statistical analytics with the facts discovered in the facility regarding inventory levels, product volumes and receipts/shipments. The know-how and experience our consultants possess with demand planning helps our clients estimate demand and make the right decisions for the future.