Demand Planning in Times of Uncertainty
Businesses today are grappling with a slate of economic pressures.
Faced with the dual challenges of unpredictable costs and fluctuating demand, businesses must take steps to anticipate how factors like inflation may impact their business. Demand forecasting — modeling how different scenarios may affect your business in the short-, medium and long-term —provides an opportunity to map out your next steps.
Demand planning helps businesses prevent the burdensome cost of holding excess inventory in times of falling demand, and also helps companies predict when business is likely to ramp up, so they can procure supplies and hire labor accordingly. It also helps businesses design a dynamic pricing strategy to maintain profitability — or minimize losses — as demand fluctuates.
Perhaps most importantly, demand planning helps businesses create a road map to navigate challenges that may arise. Mapping out future scenarios allows businesses the opportunity to act strategically — rather than scrambling to react to events after they occur.
Continue reading to learn how to begin demand planning and watch this webcast, Be Prepared: Planning for the What If, which features insights and resources from The Acceleration Project, a small business consultancy that has partnered with PNC.
For further discussion, please contact Mary Foukleva: email@example.com or 215-585-8588.