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TransImpact

TransImpact is an end-to-end technology-based company offering solutions to increase profitability across the supply chain. Parcel Spend Management includes Parcel Contract Negotiation, Parcel Spend Intelligence, and Parcel Margin...Read more about TransImpact

No reviews yet

6 recommendations

Tecsys Elite

Tecsys’ Elite™ provides a series of cloud-based supply chain management solutions suitable for midsize to large distribution companies. The company currently services a wide range of verticals such as healthcare, service parts, he...Read more about Tecsys Elite

3.8 (10 reviews)

5 recommendations

Atlas Planning

John Galt's Atlas Planning Platform revolutionizes your ability to make smart, practical supply chain decisions with confidence. It’s a single, AI-driven SaaS solution that can span your entire supply chain but begins wherever you...Read more about Atlas Planning

4.9 (32 reviews)

4 recommendations

Oracle Fusion Cloud SCM

Oracle Supply Chain Management (SCM) With Oracle Supply Chain Management (SCM) & Manufacturing, organizations can respond quickly to changing demand, supply, and market conditions. Seamlessly connect your supply chain to create a...Read more about Oracle Fusion Cloud SCM

3.9 (9 reviews)

3 recommendations

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New Horizon

New Horizon Soft, LLC is a rapidly growing provider of AI-powered supply chain planning software that enables manufacturers, wholesalers, and retailers to improve forecast accuracy and service levels while reducing inventories and...Read more about New Horizon

5.0 (4 reviews)

3 recommendations

Coupa

Point solutions are pointless: spend smarter with the leading spend management platform built for companies like you. The Coupa platform allows you to take control of your spend and position your business for resilience and growth...Read more about Coupa

4.1 (93 reviews)

2 recommendations

Netstock

Netstock is a leader in supply and demand planning software and is trusted by more than 2,200 customers globally. Integrating into the world's leading ERPs, Netstock empowers small and medium-sized businesses globally with robu...Read more about Netstock

4.9 (56 reviews)

2 recommendations

Uber Freight

Our managed transportation services are enabled by best-in-class technology to ensure your business can keep pace with the rate of change. Get peace of mind that you’re getting the most our of your TMS while we manage and optimiz...Read more about Uber Freight

3.6 (23 reviews)

2 recommendations

Inventory Planner

Inventory Planner is a software solution that helps businesses manage and plan their inventory to minimize overstocking or out-of-stock issues. It is deployed as a web application and is compatible with any device. The software ca...Read more about Inventory Planner

4.7 (37 reviews)

1 recommendations

Blue Ridge Platform

Blue Ridge designed smarter software for demand planning, replenishment, and inventory optimization that achieves positive ROI in 90 days guaranteed. With a simple, scalable, and powerful supply chain management solution you can ...Read more about Blue Ridge Platform

4.9 (16 reviews)

1 recommendations

RELEX

RELEX Solutions helps retailers, wholesalers and consumer brands drive profitable growth across all sales and distribution channels by maximizing customer satisfaction and minimizing operative costs. Our market-leading, unified ...Read more about RELEX

4.6 (12 reviews)

1 recommendations

Algo

Algo is a cloud-based supply chain planning platform that tracks inventory and demand across various channels and locations. The analytically enhanced platform integrates disparate business data, providing real-time predictive ana...Read more about Algo

No reviews yet

1 recommendations

Wrike

Wrike is a cloud-based project management platform for teams of 20+ that is suitable for both large enterprises and SMBs. It supports remote work for various teams. This solution comes with Gantt charts, calendars, workload view f...Read more about Wrike

Workday Adaptive Planning

Workday Adaptive Planning is the only native-cloud planning solution that empowers finance to configure sophisticated, driver-based models with ease, analyze unlimited scenarios on the fly, and use AI and machine learning (ML) to ...Read more about Workday Adaptive Planning

BOARD

Board is the Intelligent Planning Platform that offers smarter planning, actionable insights and better outcomes for more than 2,000 companies worldwide. Board allows leading enterprises to discover crucial insights which drive bu...Read more about BOARD

Logility Platform

Accelerating the digital supply chain from product concept to customer availability, Logility helps companies seize new opportunities, sense and respond to changing market dynamics and more profitably manage their complex global b...Read more about Logility Platform

CyberPlan

CyberPlan is the software that has enabled manufacturing companies to create optimized production plans for more than 30 years. It does this by anticipating unforeseen events, visualizing the causes of problems and simulating alte...Read more about CyberPlan

DISKOVER

The managing of supply chains can sometimes be a nuisance due to unreliable forecasts, lacking product availability and still excess inventory, unreliable suppliers, bad order proposals with wrong dates and wrong quantities, miser...Read more about DISKOVER

StockIQ

StockIQ is a supply chain management (SCM) suite for distributors and manufacturers of all sizes. The solution is available in cloud-based or on-premise deployments. Key features include supply chain planning, demand planning, sup...Read more about StockIQ

Tempo Planner

Tempo Planner is a business planning tool that allows users to create plans and schedules. It also monitors their progress and identifies potential problems without relying on calendars and spreadsheets. Users can create repeating...Read more about Tempo Planner

Buyers Guide

Last Updated: March 16, 2023

Demand planning and forecasting software is used across industries by businesses of all sizes. The market for this software is continuously growing, and demand planning technology continues to evolve. Some vendors offer a complete supply chain planning suite with features such as inventory and replenishment planning, while others offer demand planning as an add-on or standalone feature.

This buyer’s guide aims to help you understand the features and functionality of demand planning and forecasting software in order to help you during the software selection process.

Here's what we'll cover:

What Is Demand Planning and Forecasting Software?

Common Features of Demand Planning and Forecasting Software

Market Trends to Understand

Benefits of Demand Planning and Forecasting Software

Evaluating Demand Planning and Forecasting Software

What Is Demand Planning and Forecasting Software?

Demand planning software allows organizations to minimize waste by tracking trends that will affect future demand. This type of system accomplishes the task by improving forecasting governance in order to eliminate errors or biases in the data and also by reducing data latency, which makes real-time demand planning possible.

In addition to procurement software and strategic sourcing software, demand planning systems are an important, cost-cutting element of supply chain management software.

Common Features of Demand Planning and Forecasting Software

Organizations can achieve two key objectives with the help of demand planning tools: an improvement in demand forecast accuracy and greater control over demand shaping.

Historical analysis

Cross-functional or multi-dimensional forecasting processes analyze the historical demand for an individual product along with broader macro- and micro-economic trends to deliver an accurate forecast to supply chain executives.

Data separation

The software gathers a wide range of data to improve past and future demand analysis. Filtering and separation occurs by product, customer, season and market information.

Demand shaping capacity

The software factors in scheduling data related to promotions, advertising, planned product launches and upcoming competitor activity, accumulating and displaying detailed plans for future marketing campaigns as well as the projected effects on awareness, demand and revenue that will accompany them.

“What-if” analysis

With all the information in the system, the software can perform a series of scenarios and simulations based on “what-if” factors. Based on the results of these what-if simulations, potential deviations from planned demand can be communicated to the necessary areas of the supply chain in order to adjust shipments or production.

Supply chain communication

Demand planning systems communicates with other elements of the SCM system to renegotiate replenishment scheduling through capacity planning. This prevents unnecessary oversupply and cost inefficiencies by reducing inventory carrying costs and excess inventory write-offs.

Market Trends to Understand

Software as a service (SaaS). Many businesses are now opting for cloud-based systems that are hosted by the vendor and enable users to run the software entirely via web browser. Vendors that provide cloud-based demand planning and forecasting software include Fishbowl, SAP, S2K and Infor.

Digital monitoring. With the increasing globalization of the supply chain, companies face challenges such as delays, longer delivery times, degraded quality and higher costs. To tackle these challenges and maintain visibility and connectivity across the entire supply chain, many demand planning and forecasting software solutions offer a digital monitoring feature that provides real-time updates.

Artificial intelligence. The supply chain for global companies is complex and constantly evolving, which means it is susceptible to errors that can cost millions, if not billions of dollars. To combat this, some vendors are introducing features that are capable of finding and correcting both historic and live supply chain data. For example, vendor Rulex introduced an AI software solution in September 2016 that can automatically detect and correct errors in supply chain data.

Increased demand for third party integrations. Rather than having to purchase an entirely new system that covers every aspect of business operations, many buyers now seek solutions that allow them to easily import data, such as procurement, sales and operations, from their pre-existing software into the new solution without requiring extra manual effort.

Analytics. Demand planning and forecasting software vendors use different predictive models to improve the accuracy of demand forecasts. As a result, business intelligence software vendors with predictive analytics capabilities have started offering demand planning and forecasting software for supply chain application. For example, Qlik and Board BI have expanded their product offerings for the demand planning software market.

Benefits of Demand Planning and Forecasting Software

Demand planning and forecasting software can yield many benefits for organizations. These benefits include (but are not limited to):

Increased efficiency. A demand planning and forecasting solution helps increase the efficiency of a company’s supply chain and operations, improve capacity and manage inventory levels. These tools can also generate a demand plan based on historical data and predict future demand.

Improved collaboration. A demand planning system can help improve communication between a company’s supply chain and other areas of operations, including sales, marketing and finance. This can lead to the creation of action plans for different scenarios to enhance overall productivity.

Cost control. Demand forecasts reduce costs by preparing effective inventory-stocking plans. This feature prevents inventory overstocking while focusing on high-profit inventory items.

Trend analysis. In addition to controlling costs, trend analysis features can generate forecasts by capturing historical data and combining it with data related to seasonal variation and promotions. These forecasts can help prevent sales loss due to lack of inventory.

Evaluating Demand Planning and Forecasting Software

Evaluating demand planning and forecasting software requires an assessment of the functionality and its value to the planning process. It also requires an understanding of the efficiency, accuracy, and relevance of the data that is provided, since that data is key to the effectiveness of the system.

Key considerations when selecting demand planning software include:

  • What data does it collect and interpret?

  • How often is the data collected?

  • Will it be used by itself, or in conjunction with supply chain planning or a comprehensive SCM system? Is it compatible with legacy systems?