NetSuite Demand Planning supports both demand and supply planning capabilities. NetSuite Supply and Demand Planning helps balance supply and demand in a way that provides businesses the right combination of cost control, accurate lead times and service level. Using inventory management and demand planning techniques combined with a robust scheduling engine and predictive analytics, NetSuite Supply and Demand Planning helps businesses to make informed decisions which ensure product availability while keeping excess inventory to a minimum.
The Demand Planning Process
1. Calculate Demand
2.Generate Demand Plan
3.Calculate supply
4.Generate supply Plan
5.Approve
Demand Planning NetSuite Demand Planning predicts future inventory needs based on historical demand, seasonality, open opportunities and/or sales forecasts. The demand planning process includes calculating demand, generating demand plans, calculating supply, generating supply plans, and finally executing purchase orders, transfer orders and work orders. By pinpointing when to reorder items and in what quantities, you can optimize stock levels, improve forecast accuracy, and enhance supply chain planning. NetSuite Demand Planning ensures you have the right amount of stock on hand to fill orders without having overstock sitting idle on warehouse shelves.