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As manufacturers are unable to identify the lead time for deliveries, they are creating a buffer stock scenario where they can meet demands. There are numerous technology options to identify the lead times required to meet delivery deadlines. BatchSize and JIT.
Supply chain managers gain the ability to make strategic decisions backed by data-driven analysis, improving overall efficiency and responsiveness. Next, they define service level targets and any constraints, such as Minimum Order Quantities (MOQ) or batchsizes.
The demand planning team itself must include members who feel comfortable with statistics and data analysis, and can collaborate and negotiate with other business functions to drive to a consensus plan. A better approach is to focus on minimizing the end-to-end supply chain costs required to meet customer demand.
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