The SaaS-based SCM service “PlanNEL” has released an AI support for forecasting demands for new products with no sales history
Zionex is pleased to announce the release of a new feature in their SaaS-based Supply Chain Management (SCM) service, “PlanNEL,” designed to support demand forecasting for new products with no sales history.
< Demand Forecasting UI >
Background for the Release of New Product Demand Forecasting Feature
Many manufacturing and sales companies not only focus on established products that bring stable revenue but also invest in developing and selling new products to generate additional sales. However, for new products with little or no sales history or a short track record, demand forecasting and ordering are often based on the experience and intuition of personnel. As a result, issues like excessive inventory or the risk of shortages due to inadequate forecasting are common challenges.
In response to this, PlanNEL has introduced a feature that allows users to create virtual sales history data for new products by weighting data from similar products with sales records. This data can then be used for demand forecasting.
< Assigning Weight Values to Multiple Similar Products Screen >
Capabilities of the New Product Demand Forecasting Feature
Users can apply weightings to data from similar products with sales records and create data for demand forecasting based on the weighted ratios. The resulting demand forecasts can be easily reviewed and modified within PlanNEL’s management interface. This facilitates the creation and management of demand forecasting data with a common understanding among internal teams during meetings like production and sales adjustment meetings.
The process for conducting demand forecasting for new products is as follows:
- Select the new product for which you want to create a virtual sales history.
- Choose the forecasting period.
- Select one or more similar products with past sales records as reference data.
- Choose the calculation method from “Sum (using the total sales of the selected similar products)” or “Average (using the average sales of the selected similar products).”
- Enter weight values (percentages for the selected similar products) for weighting.
- Conduct production and sales adjustment meetings or supply and demand adjustment meetings based on the created demand forecasting data to finalize the data.
Zionex is committed to advancing the development of the SaaS-based SCM service “PlanNEL” based on feedback from user companies, assisting small and medium-sized enterprises in achieving efficient supply chain management.
About the SaaS-based SCM Service “PlanNEL”
PlanNEL is a supply chain management service developed for medium-sized and small manufacturing, wholesale, and distribution businesses. It is based on supply chain software used by over 300 global companies and offers functions for demand planning, optimal inventory planning, and order planning, with the flexibility for gradual implementation of specific features.
