#DEMAND PLANNING VS FORECASTING PROFESSIONAL#

For any given product, there may be independent demand, dependent demand, inter/intra plant demand, and service parts demand. This goes beyond the basic of what type of demand are we seeing. The end goal is to provide usable information for the S&OP process to ensure we are properly planning demand.ДЄs noted by Supply Chain Insights, вЂњdemand planning is the most misunderstood-and most frustrating-of any supply chain planning application.вЂќ For our demand planning and forecasting function to be successful, ВВВВВthe following aspects are critical. Effective demand planning then requires a variety of information (timely, as accurate as possible, useable, qualitative and quantitative) in order to properly forecast the products we sell. We want to ensure product availability to maximize revenues in the marketplace but also know inventory is a tradeoff as it ties up capital. We know how important our demand planning function is to ensuring operations are timely, efficient, and cost effective. What are the goals of business? To maximize profits! From a supply chain perspective, how do we accomplish this? LetвЂ™s look at some of the key aspects of how supply chain contributes to the goals of the company. She changed her degree and has been in Supply Chain ever since. She had a mid-career switch to Operations Management (OM) after taking an introductory OM class as part of her undergraduate degree.

#DEMAND PLANNING VS FORECASTING PROFESSIONAL#

Karen began her professional career in Accounting, working for a number of organizations in Payroll, Accounts Payable, and General Ledger as both an Accountant and Accounting Supervisor. With 20 years' experience in Supply Chain, Karen has worked in a variety of industries as a Planner/Buyer, Analyst, Demand Manager, and Project Manager. In addition, she is a Six Sigma Black Belt. Karen is currently serving on the APICS CPIM Master Planning of Resources certification committee. She is an active member of APICS, the Association for Operations Management, holding the CPIM and CSCP certifications. Karen currently works for MEGlobal Americas, a subsidiary of the Kuwaiti petroleum company Equate, where she is a Project Manager for Supply Chain Improvements. She received her Doctor of Business Administration from the University of Phoenix. She graduated from the University of North Carolina at Greensboro with an undergraduate degree in Information Systems and Operations Management and a Masters in Business Administration.

Demand planning vs forecasting