How Will the Omnichannel Impact Demand Planning

Consumers have been gaining power and control over the purchasing process, as well as driving new buying experiences. Unprecedented amounts of information and new digital technologies have enabled this control over retailers and manufacturers. As a result, consumers are turning increasingly to technology to help make purchase decisions. Companies are addressing some of these issues by improving alignment between different functional units, introducing advanced “analytics,” and taking an omnichannel agnostic approach to inventory and distribution. Shorter product life cycles, expanding assortments, multiple channels, and frequent price and sales promotions compound the challenges companies are experiencing due to the disruptions created by IoT, mobile devices, predictive analytics, and cloud computing. Companies will need to invest in new Omnichannel Demand Planning and Optimization technology that focuses on capturing customer preferences for where, how, and when customers/consumers want to shop, as well as sensing customer demand across all channels within the particular trade area in which they shop.