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Demand variability is common in many manufacturing industries. Many companies, therefore, carry high levels of inventory due to the difficulties in adjusting work schedules when demand increases. Accurate demand planning enables businesses to predict demand effectively and consequently help in production planning and operations for the future.
According to Gartner, companies that excel at demand forecasting have:
- 15% less inventory
- 17% better order fulfillment
- 35% shorter cash-to-cash cycle times
- 60% higher profit margins
- 1/10th the stock-outs of their peers
NetSuite's native demand planning module is specifically designed to provide the user with the ability to predict required inventory based on historical demand or sales forecasts.
Download this ebook to learn how NetSuite Demand Planning provides a variety of key functionalities to optimize inventory levels, reduce costs with order consolidation, and simplify the ordering process.