Demand planning tools has gradually evolved to be crucial in the operations of organizations that want to strike a balance between inventory and costs, eliminating more costs like wastage while at the same time ensuring customer demands have been met. By 2030, AI, machine learning, and predictive analytics will have improved upon the solutions to help organizations plan for their product demand and optimize their supply chain effectively.
This article provides a comprehensive guide to the 10 Best Demand Planning Software, highlighting its features, ease of use, cost, and other details. In this section, we will understand how these software are more than just tools that every modern business should implement.
What Is Demand Planning?
Demand planning is acknowledged as a way to predict customer demand for a specific product or service in the following days and weeks. It involves using statistical data and consumer buying patterns to help organizations order the right products at the right time and in the right quantities.
Demand planning aims to improve the match between the volume demanded and the volume supplied while simultaneously achieving these goals at minimum costs. It may combine aspects of data mining and artificial intelligence with methods such as machine learning and the ability to use real-time data.
Importance of Best Demand Planning Software
The best demand planning software assists the business in meeting different market demand changes while making necessary adjustments to inventory levels. Here’s why it’s crucial:
- Accurate Forecasting: It uses historical data, Artificial intelligence AI, and Machine learning to predict demand.
- Cost Efficiency: Helps avoid orders and hence overstocking or running out of stock which are costly.
- Improved Customer Satisfaction: Helps to keep products on the shelf to meet the customer’s needs.
- Enhanced Decision-Making: Generates useful knowledge for supply chain and inventory management decisions.
- Scalability: Facilitates business growth by improving on the demand planning challenges occasioned by complexities.
Key Features to Look for in a Demand Planning Software
When choosing the best demand planning software, prioritize the following features:
- Predictive Analytics: Applying prescriptive analytics to use AI and Machine Learning to accurately forecast demand and trends.
- Customizable Dashboards: It provides real-time data and interactive visualization to support decision-making procedures.
- Integration Capabilities: It integrates perfectly with the ERP, CRM, and inventory systems.
- Scenario Planning: Facilitating the actualization of “what if” scenarios needed in strategic management.
- User-Friendly Interface: Supplies information in a way understandable by persons with no technical background.
Quick Overview of Our Listed Software
List of 10 Best Demand Planning Software
1. Netstock
Rating: 4.5/5
Website: https://www.netstock.com/
Netstock is a demand planning software for SMEs in the cloud – for selling between 5 and 50 times the amount of inventory compared to their competition. It also has a natural user interface whereby firms can forecast the demand for their products and make necessary orders thus eliminating situations whereby the firm exhausts its stock or on the other side is left with many unsold stocks.
One wish is that one be able to fine-tune the packages to work in harmony with the most used ERP software packages, this way getting the historical data together and producing accurate forecasts is relatively easy.
Key Features:
- Inventory Optimization: They help lower the likelihood of either having stock out or overstock which may put pressure on the functionality of a company.
- Demand Forecasting: It comprises information derived from the description of the business process and the pattern that is expected to occur in the future.
- Integration: Extends most popularly installed ERP systems to obtain peak compatibility.
How to Use:
- Import historical data from your ERP.
- Configure inventory parameters.
- Generate and review forecasts.
Ideal For: Small to mid-sized businesses seeking affordable demand planning software solutions.
Pricing: Contact For Pricing.
2. SAP Integrated Business Planning (IBP)
Rating: 4.7/5
Website: https://www.sap.com/india/index.html
SAP IBP is short for intelligent business planning. It’s a supply chain planning tool that provides real-time visibility and uses complex models. It provides a background on supply chain management and thus assists in the increase of production with inventory and sales to meet market demand. The planning functions integrated into the software allow users to forecast a variety of market situations and manipulate them given a particular scenario.
Key Features:
- Scenario-Based Planning: Fosters a variety of distinct markets with which to assess its basic appraisal algorithms.
- Real-Time Analytics: Provides actionable insights.
- Collaboration Tools: Outlines how information between departments of an organization can be exchanged.
How to Use:
- Implementation of demand planning software models.
- Deal with the dynamic analysis of big data.
- Coordinate with the teams for implementation.
Ideal For: Large enterprises with complex supply chains.
Pricing: Custom pricing based on requirements.
3. Anaplan
Rating: 4.6/5
Website: https://www.anaplan.com/
Anaplan offers a networked planning platform that improves an organization’s planning of supply chain actions according to forecasted demand data. Some of its robust strengths are scenario modeling and collaboration features that are ideally suited in the middle to the large business that needs a solution that can align the finance and operation strategies. First, the described platform involves planning across business functions as its key characteristic.
Key Features:
- Scenario Modeling: The demand model is fully flexible so the model can also be tested against any feasible demand situation of convenience.
- Collaborative Tools: Enhance the process by which different parts of an organization communicate.
- Integrated Planning: Connects financial elements with operation elements.
How to Use:
- Perform demand planning modules.
- Scenario modeling should be used to test whether strategies adopted in an organization would meet the intended goals.
- Being a business system, it needs to interconnect with other business systems in the organization.
Ideal For: Medium to large organizations with diverse planning needs.
Pricing: Contact For Pricing
4. Workday Adaptive Planning
Rating: 4.6/5
Website: https://www.workday.com
A valuable use case of Workday adaptive planning along with its features is for demand forecasting in financial planning solutions This tool allows managers to run and plan with approximate real sales and inventory figures to make better demand predictions. Primarily because the dashboards are quite simple and the applicability is further improved by the fact that it is integrated with other tools for instance Salesforce among others, making it most suitable for mid and large businesses.
Key Features:
- Automated Forecasting: Reduces difficult processes that rely on the real-time acquisition and analysis of data.
- Integrations: Works correctly with other integrated third-party applications such as sales force.
- Collaborative Planning: Enhances integration work since it generates illustrations of all people working in the team.
How to Use:
- Upload import sales data and import inventory data.
- Develop anticipations about demand.
- Create valuable ideas and report them to the involved teams.
Ideal For: Mid to large-sized businesses focusing on financial and demand planning.
Pricing: Custom pricing.
5. Epicor Kinetic
Rating: 4.5/5
Website: https://www.epicor.com/en/
Epicor Kinetic is a flexible and powerful Demand Planning software developed to serve companies that operate in the manufacturing and distribution industries. They have real-time access to data; a customizable interface, depending on the user’s position; and an easy-to-navigate work scheme that can be adjusted according to the concrete organization or company. This spiritual strength of analysis enables the firms to satisfy demand while, at the same time, using efficiency in managing inventory.
Key Features:
- Role-Based Dashboards: These give information that depends on the type of user.
- Real-Time Monitoring: Of course, speaking of inventory needs, it serves as a record of changes in the rates.
- Customizable Workflows: Adapts the fit and functional unique business processes.
How to Use:
- Customize the flow as per the requirements of the organization.
- When it comes to monitoring demand trends, people should apply analytics.
- Functionality to communicate with present ERP systems.
Ideal For: Manufacturing and distribution businesses.
Pricing: Contact For Pricing
6. Brightpearl by Sage
Rating: 4.4/5
Website: https://www.brightpearl.com/
Brightpearl is software that operates in the cloud and supports retailers with demand planning , demand forecasting, inventory optimization, and supply chain. In particular, it has reduced manual handling and offers multiple-channel messages, which is relevant for both retail and e-commerce organizations that want to control and optimize their processes and results.
Key Features:
- Multi-Channel Inventory Management: Syncs across sales channels.
- Automated Demand Forecasting: Reduces manual errors.
- Real-Time Analytics: Taps at possibilities as far as improvement is concerned in so far as decision-making is concerned.
How to Use:
- Every single sale point that connects to the app has got to be in harmony with the platform.
- Setting the benchmark on forecasting.
- When planning for general inventory, use reports.
Ideal For: Retailers and eCommerce businesses.
Pricing: Custom pricing.
7. New Horizon
Rating: 4.3/5
Website: https://www.newhorizon.ai/
By understanding demand plans supported by advanced artificial intelligence, New Horizon offers companies a vastly beneficial option that will improve the supply chain. It enables the reception of basic industry vertical templates, which assist in setting up demand rates compatible with organizational objectives. That is why and how the software that can increase a company’s or client’s predictability and give coverage from supplier to consumer is a lot more valuable to manufacturers or wholesalers.
Key Features:
- Industry Templates: Some of these are: They come all prepared with formats depending on the type of business activity.
- AI-Powered Forecasting: Enhances prediction accuracy.
- Comprehensive Planning Tools: These are supply chain management and inventory.
How to Use:
- Choose the template based on your industry.
- Console AI models according to data.
- Review and maintain and modify if necessary the forecasts.
Ideal For: Manufacturers and wholesalers.
Pricing: Custom pricing.
8. Quant Retail
Rating: 4.3/5
Website: https://www.quantretail.com
Quant Retail is an aaSaaS demand planning software solution purposefully bundled for retail companies with multiple outlets. Some of them include: The features of the ability to manage the planogram performing the function of automatic ordering of stock and cloud capability which is one of the best tools regarding over-shelf and restocking.
Key Features:
- Planogram Management: It helps in controlling space and correct placement of stores and products within the store.
- Automatic Ordering: Removes ambiguity which is witnessed over the restocking of stocks in the inventory.
- Cloud Accessibility: Enables remote management.
How to Use:
- Implement store-specific planograms.
- Make a qualitative analysis of the importance of the specific product(s) and calculate expected demand.
- Adopt automated restocking from forecasts When, for example, the level of products in your store drops, create an automatic alert that orders the products to be restocked.
Ideal For: Retail businesses with multiple stores.
Pricing: Starts at $15,000/year.
9. Kronoscope
Rating: 4.4/5
Website: https://www.kronoscope.ai/kronoscope
Our software Kronoscope uses artificial intelligence algorithms to detect trends in the inventory and satisfy the demand. Consequently, inventory can be deemed to be significant for the companies, especially for the FMCG and retail, focused on the reduction of excess inventory and proper usage. Some of the strengths include that the system can generate predictive analytics and recommendations for the planning of demand.
Key Features:
- Predictive Analytics: Brings correction of stock and controls for an optimum quantity of stock in stocks.
- Waste Reduction: Minimizes surplus inventory.
- Actionable Recommendations: Guides on corrective actions.
How to Use:
- Correct data from past years and input it into the platform.
- Examine probable reports on stocks.
- Implement suggested changes.
Ideal For: FMCG and retail industries.
Pricing: Custom pricing.
10. Microsoft Dynamics 365
Rating: 4.6/5
Website: https://www.microsoft.com/en-us/dynamics-365
Microsoft Dynamics 365 is a broad solution that brings Demand Planners in touch with Supply Chain. It incorporates multi-cloud IOT sensors, artificial intelligence technology analytics, and real-time visibility making it ideal for enterprises that have classes of solution requirements.
Key Features:
- IoT and AI Integration: It is rational in the aspect of producing data.
- Real-Time Visibility: Tracks supply chain metrics.
- Customizable Modules: This makes it relatively flexible depending on different business needs that are participating in its process.
How to Use:
- Position IoT devices for tracking the Internet of Things in a real-time manner.
- Integrate with ERP systems.
- AI application in demand forecasting.
Ideal For: Enterprises seeking integrated supply chain management solutions.
Pricing: Custom Pricing
Pros and Cons of Best Demand Planning Software
Pros
- Accurate Forecasting: Prevents amplified mistakes associated with market demand estimates through innovative programs such as artificial intelligence and machine learning.
- Cost Savings: This reduces cases of overstocking or overwhelming stock and eliminates situations where stocks run out or are very low.
- Scalability: Grows with increasing levels of business difficulty.
- Enhanced Visibility: Offers instant stock and supply chain data and analytics information.
- Integration Capabilities: Integrated with ERP, CRM, and Point of Sales systems.
Cons
- High Costs: Some of these tools, especially those that are referred to as premium tools, may be costly to small businesses.
- Complex Setup: Development can be lengthy, especially when it comes to implementation, and it is best done by a professional.
- Learning Curve: Some tools are not easily operable by every layman with little technical knowledge.
- Data Dependency: Accuracy depends on the quality of both the historical data and the real-time data.
- Vendor Lock-In: A moderate level of flexibility with some closed architecture solutions.
How to Choose the Best Demand Planning Software
- Understand Your Needs: An organization must determine the extent and level of difficulty of the demand planning exercise in which it is involved.
- Budget Considerations: The costs incurred have to be weighed against the companies’ prospective rates of return.
- Feature Fit: Check the basic framework, which includes features such as integration and analytics essential to any software.
- Ease of Use: One key factor in selecting a particular tool is its ability to be easy to use by most users.
- Vendor Support: Choose software that offers good customer support/consultancy and free or very cheap training.
Conclusion
Purchasing the most suitable demand planning software is a reasonable decision for enhancing operation performance and decreasing expenditure while satisfying customer demand. With the help of modern tools such as SAP IBP, Netstock, and Anaplan, it is possible to improve demand planning and provide enterprise growth radically.
FAQs
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What is demand planning software?
Demand planning software involves the use of data analytics, AI, & machine learning in a bid to forecast the quantity of demand for specific products.
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To whom is demand planning software applicable?
Due to this, it will be useful to supply chain managers, demand planners, and inventory specialists.
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How much does demand planning software cost?
They cost as low as $5,000 and as high as $50,000 per year if they come with some features.
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Is demand planning software applicable to small-scale businesses?
Of course, tools like Netstock have affordable prices for smaller companies.
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What does AI bring to the demand planning process?
AI also improves accuracy because it looks at previous data and determines the most probable patterns, thus improving an estimation of future demand.
