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Demand forecasting is a process of estimation of potential demand that helps businesses plan ahead of time and use resources accordingly. It is performed by understanding the market forces, competitors, and consumer behavior.
There are six types of demand forecasting being incorporated by major multinational companies:
- Passive demand forecasting: This type uses sales data from the same season to predict future sales.
- Active demand forecasting: External factors such as economics, growth projections, and cost savings are considered.
- Short-term projections: The timeline of forecasting is from three to twelve months. It helps resolve customer queries at pace.
- Long-term projections: The timeline of forecasting is from one year to four years. It can be utilized to plan capital investments and supply chain operations.
- External macro forecasting: The prediction focuses on how trends will affect company goals. It includes the broader economy to make projections.
- Internal business forecasting: This type of forecasting unveils the underlying issues that hinder growth.Â
Furthermore, five demand forecasting methods are prevalent in the market:
- Trend projection: Sales data from the past is utilized to make estimates for potential sales.
- Market research: Data is collected based on consumer surveys.
- Sales force composite: The sales team is asked for feedback about consumer behavior as they work closely with customers.
- Delphi method: This method is part of the qualitative methods which regards expert opinion on forecasts as vital.
- Econometric: This method combines numerical sales data with external factors to build a formula for future prediction.
It is bound to be a well-tested strategy if the majority of multinational brands are using it, right? Let us understand how three multinational companies carry demand forecasting that makes their success persistent.Â
Johnson & Johnson, FedEx, and Nestle.
Firstly, Johnson & Johnson, a pharmaceutical and medical device producer, has been known to use demand forecasting to confirm the availability of products and supply chain management. Secondly, FedEx, a delivery service company, is assisted through macroeconomic information to enhance its logistic networks. It studies past data on shipping and estimates the volume to be distributed for further transportation. Thirdly, Nestle, considered to be the world’s largest food and beverage company, tends to use machine learning to predict potential sales. It produces the volume of products based on these predictions.Â
SlideTeam has got you covered to help you incorporate these demand forecasting strategies. These templates are content-ready and customizable that helps you blend the data in, based on your needs.
Eager to know the carefully crafted demand management process? Read more about demand management to grasp the details.
Let’s study the top 10 demand forecasting templates by SlideTeam.
Template 1: Demand Forecasting Powerpoint Presentation Presentation Slides
This presentation brings in a 16-pointer index that assists in performing demand forecasting. It starts by providing a planned view of the market landscape, recommendations, and market sizing through the market assessment agenda slide. It also delves into extracting key statistics related to unnoticed cyber attacks, vulnerable devices, users with unprotected devices, and connected devices that store personal information. A full-fledged market analysis can be carried out by conducting a market opportunity analysis to fill in the demand and supply gaps. Furthermore, identifying unmet and undeserved needs and product opportunity evaluation attract the desired demographic. Download this comprehensive PPT today!
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Template 2: Ansoff’s Matrix for Market Analysis
The Ansoff Matrix is a two-by-two grid that is meant to plan and execute growth-intensive operations. This matrix is beneficial in calculating associated risks between existing products & services and markets along with the new ones. The four elements of this are market penetration, market development, product development, and diversification. The purpose of these elements is mentioned below:Â
- Market penetration: It represents the notion of improving sales of existing products in an existing market.
- Market development: This brings about the sale of existing products into new markets.
- Product development: It unveils new products into an existing market.
- Diversification: This presents new products into a completely new market.
Download this slide to craft growth strategies for maximum results.Â
Template 3: Bottom-Up Approach & Top-Down Approach
This slide depicts two approaches to conducting market assessment and research: The bottom-up approach and the top-down approach. The top-down approach follows the classic method of setting goals first and then moving on to drafting a plan for the same. The edge of the pyramid, in this case, faces downwards. It can include a study on the understanding of macro economy first, analyzing competitiveness and penetration, and thirdly addressing the execution of these studies. Contrarily, the bottom-up approach first makes the company search for customers and brings in products or services based on the demand. The edge of this pyramid faces upwards. This consists of studying the company specifics and known market specifics, having a fundamental understanding of the market, and then addressing the operations. Download to scale your business!
Template 4: Implementing Big Data Analytics Demand Forecasting Methods Used in Supply Chain Planning
Supply chain planning uses multiple methods such as macro, micro, short-term, and long-term for demand forecasting. This slider puts forth a three-column and four-row table with the method, description, and impact as the heads. Following is the explanation of all the four methods to be used in supply chain planning:
- Macro level: Assessing external forces and dynamic market conditions, which can help identify supply chain risks.
- Micro level: Analyzing product specifications and customer segments to predict future stock demand.
- Short-term: Conducting sales events and promotional campaigns that can help identify sales and demand hikes.
- Long-term: Perform forecast demand for more than one year and use product launch data to make informed decisions.
Download and stay efficient in supply chain planning!
Template 5: Market Demand and Forecast Dashboard with Method Count
A graphical slide with four components to it, namely forecast method count, forecast adjustments profile, demand/forecast (units), and demand/forecast (value). The forecast method count is a pie graph that can be used to record metrics like weighted average and intermittent smoothing. The forecast adjustments profile represents a bar graph showing the stock-keeping units (SKUs) for each passing month as the base. Besides, the demand/forecast (units) graph shows the difference between the actual number of units in demand and the forecasts made for each month. Lastly, the demand/forecast (value) bar graph indicates the difference in value earned between the actual demand and forecasted numbers. Download to store valuable data such as this!
Worried about how to complete multiple upcoming projects without optimum market research? Re-align your basics with these project forecast templates.
Template 6: Demand Forecasting Approaches in Supply Chain Management
Supply chain management has certain demand forecasting approaches, which are explained in this slide:
- Macro level: This approach maintains a wide eye toward aspects that may harm the business. Broad economic circumstances or external pressures are considered important for smooth business flow. It also assists in understanding regional and worldwide scope to counter risk.
- Micro level: As the name suggests, this approach functions on micro considerations. It brings certain consumer segments to the center of attention and enables forecasting of demand.
- Short-term: This approach recognizes both macro and micro levels and is focused on projection demand trends lasting less than a year. The sales and marketing departments stay busy in this approach as information regarding promotional events is required to assess demand.
- Long-term: Similar to the short-term approach, macro and micro levels are both considered. It is determined by the projection of demand trends for more than one year. Corporate investments, collaborations, and big decisions such as these are more of a goal in this approach.
Template 7: Understanding the Market Landscape
There are nine vital characteristics that are necessary to understand the market landscape.Â
- Figure out the partners in the market who are working together on upcoming projects.
- Note down the activities being carried out in the industry that help industry experts connect.
- Devise a checklist of what resources are being used for operations within the industry.
- Know what the value proposition of the products and services being offered in the market is. This helps in understanding why one company is performing better than the other.
- Research the competitors' customer relationships and use this data as an advantage to build better customer rapport.
- Understand the channels of communication.
- Divide the customer segments as per demand.
- Craft the cost sheet required for smooth operations.
- Design tables of company revenue streams.
Template 8: Market Opportunity Analysis
A market opportunity analysis should be conducted to decipher the probability of success. In this question-based slide, answers to multiple queries are required. It needs to be comprehended whether, firstly, giving extra benefits with the products and services attract more consumers. Secondly, the importance of cost-effective media and trade channels to reach the target market. Thirdly, if the benefits being granted are better than the competitors. Lastly, calculate if the business is profitable. Download today to conduct marketing assessments!
Template 9: Market Sizing
Market sizing is a systematic approach to finding out the reach of your product’s consumer base. This slide produces a Venn diagram chart with the potential market opportunity as the underlying factor. Within itself, it first calibrates the total addressable market. Further, it divides the segment of the market that is being targeted for attention. Lastly, the expected share of the addressable market is calculated based on research and demand forecasting. Potential sales are also a direct finding in this process. Why miss out on such an essential factor? Download now!
Template 10: Volume High Low Close ChartÂ
A bar graph chart used to record changes in the volume of products sold is called a volume high-low close chart. The horizontal axis notes down the dates in an ascending order. It then uses the vertical axis to present the volume of sales or probability of sales of at least two products. This slider can be used to compare each product’s scalability in comparison to one another. In demand forecasting, it paves the way for an easy understanding of how the products may perform or are performing in the market. Click below to download!
Scale your sale numbers by including the forecast vs actual sales templates in your PPTs!
Plan at Present, Decide Your Future!
All supply is based on the demand put forth. The advanced solutions above provide real-time insights that can allow you to optimize resources, reduce excess or lack of production, and increase cost efficiency to maximize profits. Invest in these Demand Forecasting Methods Presentation Slides by SlideTeam to maintain planning outcomes and a profitable future.
