Forecast demand planning4/8/2024 Modern businesses have access to huge amounts of data so demand planning and forecasting should be easier. Understanding and predicting demand in unpredictable times What led to a situation like this? Were companies completely unprepared for this sudden surge in demand for these consumer items? Could the situation have been handled better?īusinesses around the world are pondering upon these questions and each of them leads to a simple answer – effective supply chain demand planning and forecasting. Do you remember the time when the COVID-19 pandemic lockdowns were announced across the world, followed by the panic purchase of essentials to the point where supermarkets and grocery stores were left with empty shelves? Every day, the newspapers and websites were filled with the news about shops running out of simple items like toilet paper, milk, or bread.
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