FRINK Linked Data Fragments server

Matches in SemOpenAlex for { <https://semopenalex.org/work/W94049910> ?p ?o ?g. }

• W94049910 startingPage "33" @default.
• W94049910 abstract "EXECUTIVE SUMMARY | This article discusses not only the challenges Indian businesses face in demand planning, but also ways to deal with them. Geographical diversity in terms of customs and traditions has a great impact on demand, which has to be properly managed. Demand planning-forecasting and managing demandplays a vital role in managing a business in India. In recent years, almost all the major companies in various regions have shown healthy growth rates upward of 10% (See Table 1). But India, being a highly diversified nation with 28 states and varying purchasing behaviors, has its own challenges in managing demand. This article discusses unique challenges that Indian companies face when managing demand and the best way to deal with them. In recent years, consumer demand i n I n d i a h a s t r a n s formed the recession-based conservatism into aggressive optimism. Many Indian companies have experienced im-pres sively healthy growth rates. Most of the demand is coming from consumers who recently experienced a surge in their discretionary income. Businesses can ramp up their growth further if they manage their demand effectively. In fact, most Indian companies have started to pay more and more attention to demand planning. Not only that, many ambitious Indian companies have even started to include the export component in their demand planning process. DEMAND PLANNING How to manage demand effectively depends on the country because the people in each country have different purchasing powers, consumer behaviors, and cultures. Knowing the unique challenges in India, we outline here a few critical points to be considered in implementing a successful demand planning process. 1. Demand planning an autonomous body; 2. Formal forecasting process; 3. Demographic diversity; 4. Forecasting assumptions; 5. Impact of promotion; 6. Performance measurement; and 7. Training. DEMAND PLANNING BY AN AUTONOMOUS BODY Sales forecasts in India are usually highly biased. Mostly, sales teams own the forecasting process. They bias the forecasts downward if sales quotas are based on them; otherwise, their numbers would be quite optimistic to ensure products are in stock when orders come in. In other cases, forecasts are prepared by the supply chain people, who have a bias of their own-they under-forecast if their performance is evaluated on the basis of inventory and over-forecast if they are evaluated on the basis of customer service. We also see companies making multiple forecasts, where each function prepares its own forecasts for its own use, making it difficult to align supply and demand. How can we align supply and demand if a sales plan is based on one set of numbers and a production plan on another? In a multiple forecast environment, even management won't know for sure which numbers to use. These are the problems that many Indian organizations face. They can be managed effectively if demand planning is performed by an independent body. With that, demand planners will come up with forecast numbers that truly represent the market. In recent years, many Indian organizations have moved in that direction. FORMAL FORECASTING PROCESS It is not enough to just have a demand planning process; demand planning means demand forecasting and managing demand. For a robust demand forecasting process, it is important to have a formal forecasting process wherein a forecaster obtains input from various functions and then prepares statistical forecasts, which are then presented in the consensus meeting. Members of consensus team go over the numbers and then overlay judgment where necessary. Most organizations in India don't have a formal forecasting process in place. Forecasts are prepared in a very crude way with little or no application of statistical models. Data are not analyzed for outliers, structural changes, and/or seasonality. …" @default.
• W94049910 created "2016-06-24" @default.
• W94049910 creator A5073995194 @default.
• W94049910 date "2011-04-01" @default.
• W94049910 modified "2023-09-28" @default.
• W94049910 title "Demand Planning in India-Emerging Trends & Challenges" @default.
• W94049910 hasPublicationYear "2011" @default.
• W94049910 type Work @default.
• W94049910 sameAs 94049910 @default.
• W94049910 citedByCount "0" @default.
• W94049910 crossrefType "journal-article" @default.
• W94049910 hasAuthorship W94049910A5073995194 @default.
• W94049910 hasConcept C126285488 @default.
• W94049910 hasConcept C139719470 @default.
• W94049910 hasConcept C144133560 @default.
• W94049910 hasConcept C162324750 @default.
• W94049910 hasConcept C162853370 @default.
• W94049910 hasConcept C179366874 @default.
• W94049910 hasConcept C193809577 @default.
• W94049910 hasConcept C203379541 @default.
• W94049910 hasConcept C2778813691 @default.
• W94049910 hasConcept C32597650 @default.
• W94049910 hasConcept C556758197 @default.
• W94049910 hasConceptScore W94049910C126285488 @default.
• W94049910 hasConceptScore W94049910C139719470 @default.
• W94049910 hasConceptScore W94049910C144133560 @default.
• W94049910 hasConceptScore W94049910C162324750 @default.
• W94049910 hasConceptScore W94049910C162853370 @default.
• W94049910 hasConceptScore W94049910C179366874 @default.
• W94049910 hasConceptScore W94049910C193809577 @default.
• W94049910 hasConceptScore W94049910C203379541 @default.
• W94049910 hasConceptScore W94049910C2778813691 @default.
• W94049910 hasConceptScore W94049910C32597650 @default.
• W94049910 hasConceptScore W94049910C556758197 @default.
• W94049910 hasIssue "1" @default.
• W94049910 hasLocation W940499101 @default.
• W94049910 hasOpenAccess W94049910 @default.
• W94049910 hasPrimaryLocation W940499101 @default.
• W94049910 hasRelatedWork W1595660781 @default.
• W94049910 hasRelatedWork W188117381 @default.
• W94049910 hasRelatedWork W1989186491 @default.
• W94049910 hasRelatedWork W2058380715 @default.
• W94049910 hasRelatedWork W2086403943 @default.
• W94049910 hasRelatedWork W2137080274 @default.
• W94049910 hasRelatedWork W216402478 @default.
• W94049910 hasRelatedWork W220282498 @default.
• W94049910 hasRelatedWork W2270066596 @default.
• W94049910 hasRelatedWork W2299210668 @default.
• W94049910 hasRelatedWork W2461165575 @default.
• W94049910 hasRelatedWork W256638394 @default.
• W94049910 hasRelatedWork W2610657263 @default.
• W94049910 hasRelatedWork W280733426 @default.
• W94049910 hasRelatedWork W295038794 @default.
• W94049910 hasRelatedWork W2992837575 @default.
• W94049910 hasRelatedWork W2993974179 @default.
• W94049910 hasRelatedWork W883580010 @default.
• W94049910 hasRelatedWork W2598004740 @default.
• W94049910 hasRelatedWork W2994359341 @default.
• W94049910 hasVolume "30" @default.
• W94049910 isParatext "false" @default.
• W94049910 isRetracted "false" @default.
• W94049910 magId "94049910" @default.
• W94049910 workType "article" @default.