How can you improve demand forecasting, and frequency of delivering goods to distributors?
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Hi there,
Quite simply, by using technology. You'll need to bring in an inventory management system and data analytics.
There are two parts to your question:
Improve Demand Forecasting
- Improve current forecasting process, remove manual workaround as much as possible & drive automation
- Drive collaboration with Sales, Marketing & Finance to achieve a consensus forecast which is in line with market demand
- Use apprpriate technology/tools for stastical forecasting, using ML/AI if possible
- With all these changes, you will need to train people and change manage the transition to new ways of working
Increase Frequency of Delivering good to Distributors
- This will require inventory management & optimisation at the warehouse i.e having the right stock (not too much or not too less). Again, same approach- improve the process and use right technology/tools
- Optimise the distribution network (via a partner such as DHL) to ensure delivery times & frequencies are met. Manage the partner through strong SLAs
In supply chain everything is connected. Localised improvements will only give marginal benefits before the problem piles up.
Demand Forecasting-> Supply Planning-> Inventory Management-> Sourcing & Procurement-> Manufacturing-> Delivery & Distribution- > Returns
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