Demand Sensing – NextGen Supply Chain Technology

Under “Demand Management Trilogy”, I have already published two articles. The first article is on “Demand Planning” wherein you can understand it very comprehensively and the second article is on “Demand Forecasting” which is a buzz word in Sales and Marketing industry and give insights to top-management for all important business decision making which helps the business to meet future customer demand. Despite both these concepts are still relevant and provide insights to C-level executives to make strategic decisions, both are missing capability to address the near future demand which is dependent on current and real-time events. To incorporate the capability of anticipating near future demand in traditional forecasting method, a concept of “Demand Sensing” has evolved and it is the topic of the third and final article of “Demand Management Trilogy”