Demand Management How Demand Management Term Paper

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Profitability analysis as dictated by an accurate market forecast, captured as part of demand management planning, can drastically reduce wasted shipments, orders of low or no priority, freeing up hundreds of hours and millions of dollars in logistics systems costs (Hilletofth, 2011).

A second best practice that has emerged from this analysis is the finding that those industrially-based companies who have extensive investments in Product Lifecycle Management (PLM) systems have been able to gain greater control over product line extensions and transitions by coordinating more closely with demand management and logistics systems. PLM systems can accelerate logistics process and strategy performance based on the increased quality and quantity of information captured over the lifecycle of products (Godsell, Christopher, 2006). This approach relies on capturing knowledge that is both tacit and implicit within the enterprise, translating both of these types of information into greater intelligence that logistics systems can use for more efficient, economical operations (Godsell, Christopher, 2006). This best practice is prevalent throughout the fashion and retailing industries, as these logistics systems must be finely tuned to demand management and production planning for enterprise to be profitable (Jacobs, 2006).

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Conclusion

Financial and operational information systems, combined with tacit and implicit knowledge generated in the enterprise (Godsell, Christopher, 2006) can be used for more effectively unifying demand management, production planning and logistics planning. The best practices mentioned in this analysis are the result of a thorough literature review which has shown that enterprises who have exceptional processes in place for knowledge management and propagation can turn knowledge itself into a competitive differentiator. The greater the knowledge sharing and ability to provide insights gained from performance analysis, the more efficient, economical and profitable logistics systems and strategies will be. Ultimately the logistics systems of an enterprise need to be enriched daily, even in real-time in fast moving industries including fashion and retail (Jacobs, 2006) for a business to be able to survive and grow in these turbulent economic times......

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