Demand management involves a proactive approach to understanding and influencing demand patterns. Here's how:
Event Analysis: It includes analyzing events such as market trends, economic indicators, and competitive actions that could impact future demand.
Demand Shaping: Managing activities like promotions, pricing strategies, and marketing campaigns to shape demand in a way that aligns with supply capabilities.
Customer Insights: Gathering and analyzing customer feedback and preferences to anticipate changes in demand.
Coordination: Collaborating with different departments (e.g., marketing, sales, and operations) to ensure alignment and responsiveness to demand changes.
Effective demand management requires a comprehensive understanding of various factors that influence demand and actively managing these elements to optimize supply chain performance.
References:
Vollmann, T. E., Berry, W. L., Whybark, D. C., & Jacobs, F. R. (2005). Manufacturing Planning and Control for Supply Chain Management. McGraw-Hill.
Stevenson, W. J. (2018). Operations Management. McGraw-Hill Education.
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