Demand Sensing
Demand Sensing is a feature in demand planning software that uses real-time data, advanced analytics, and machine learning algorithms to improve short-term demand forecasting accuracy. Unlike traditional forecasting methods based solely on historical data, demand sensing incorporates current market signals such as sales orders, point-of-sale data, and external factors like weather or promotions. This enables businesses to quickly detect and respond to sudden changes in demand patterns. By providing more accurate near-term forecasts, demand sensing helps organizations reduce forecast errors, optimize inventory levels, minimize stockouts or excess inventory, and enhance overall supply chain responsiveness and service levels.
