What is demand planning?

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Breathtaking design for home living.

What is demand planning?

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Breathtaking design for home living.

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We’re not just another order fulfilment company. We’re the industry leader that delivers the highest quality B2B and B2C services to supercharge your business. If you’re looking to scale your business with world-class services, we’re here for you

Demand planning; an introduction…

Demand Planning; An introduction…

Demand planning is a crucial when it comes to running your eCommerce store successfully, allowing you to remain competitive for your customers while also ensuring you are getting the most value out of every part of your supply chain.

Lets explore the importance of demand planning and how proper preparation can help you excel and reach new heights…

What is demand planning?

In short, demand planning is the process of using historical data and predictive analysis to forecast demand for your products.

However, if you’re a new business, demand planning can be tricky since you won’t have historical data to use when it comes to demand planning.

What is Kitting and Assembly?

Kitting and assembly is a fulfilment service that is offered by most 3PL companies. It is a process that involves compiling, or assembling different parts and components together to create one final product, bundle, or kit. It is worth noting that this then becomes one singular SKU rather than multiple.

Kitting and assembly gives you the chance to offer customised bundles, kits, and products, meaning that you can drive more sales through discounts, promotions, etc.

Why is demand planning important?

Why is demand planning important?

Demand planning is important if you want to grow, remain profitable, and remain competitive by offering the best value and experience to your customers.

Accurate demand planning plays a huge role in improving your overall bottom line. Demand planning can help you minimise the costs associated with; storage, reducing wastage, eliminating stockouts, and reducing supply chain issues/disruptions.

Accurate demand planning can help you find the perfect balance between overall costs and customer demand.

What are the challenges of demand planning?

Demand planning isn’t always as easy as just looking at data and making a calculation, as sometimes you come across internal and external challenges which makes the process harder.

One of the main internal challenges you might come across is inaccurate historical data. You cannot accurately calculate demand if your historical data is inaccurate.

Externally, you may run into issues with; changing customer behaviour, change in economic situations, change in trends, new competitors, seasonality, and more.

What is Kitting and Assembly?

Kitting and assembly is a fulfilment service that is offered by most 3PL companies. It is a process that involves compiling, or assembling different parts and components together to create one final product, bundle, or kit. It is worth noting that this then becomes one singular SKU rather than multiple.

Kitting and assembly gives you the chance to offer customised bundles, kits, and products, meaning that you can drive more sales through discounts, promotions, etc.

Factors that influence your demand planning accuracy…

As mentioned, there are some internal and external factors that can influence the accuracy of your demand planning calculations, so lets take a more in-depth look at these factors…

Your customers…

Understanding your customers behaviour is crucial, especially when it comes to online purchasing. What is your target market? Why do they need your product? When are they most likely to purchase your product? The more you understand your customers behaviour, the more likely you are to meet their needs, allowing you to build a loyal customer base.

You may want to consider;

  • Customer surveys, feedbacks, and reviews
  • Analyse sales trends
  • Analysing customer complaints

Economic Conditions…

In order to calculate your demand accuratley, you also need to have a good understanding of the current economic conditions at any given time.

When inflation hits, customers tend to cut down on unnecessary spending until they have more disposable income, meaning you may see a decrease in demand.

When this occurs you may want to consider slowing production down to help save on overall costs, such as your storage. The left over money can then be used to re-start production and stock replenishment when demand increases once customers have some disposable income that they feel comfortable spending.

Seasonality and trend demand…

You will find that demand is also largely based on current trends, and the time of year. Peak season (traditionally Black Friday through to Christmas) are times when you are more likely to see a huge influx in sales. However, your peak season may differ. If you sell hot tubs, peak season could be Spring – Summer, but if you sell hats and gloves, peak season is likely to be Autumn – Winter. However, these fluctuations in demand are what you need to help you gain accuracy in your demand planning. This historical data will allow you to see when your products are likely to be of higher demand.

Watch the competition…

It is important to watch the competition in your industry to help you understand what you can do to stand out amongst the crowd.

If you notice they run sales at a certain time of year, consider doing the same, if they do big marketing campaigns at a certain time of year, consider doing the same. This will help to avoid the demand being driven away from your products, and will hopefully help with attracting customers to purchase from you rather than them.

Homeware; Exploring the growing market…

Demand planning; an introduction…

Demand planning is a crucial when it comes to running your eCommerce store successfully, allowing you to remain competitive for your customers while also ensuring you are getting the most value out of every part of your supply chain.

Lets explore the importance of demand planning and how proper preparation can help you excel and reach new heights…

Homeware; Exploring the growing market…

What is demand planning?

In short, demand planning is the process of using historical data and predictive analysis to forecast demand for your products.

However, if you’re a new business, demand planning can be tricky since you won’t have historical data to use when it comes to demand planning.

Homeware; Exploring the growing market…

Why is demand planning important?

Demand planning is important if you want to grow, remain profitable, and remain competitive by offering the best value and experience to your customers.

Accurate demand planning plays a huge role in improving your overall bottom line. Demand planning can help you minimise the costs associated with; storage, reducing wastage, eliminating stockouts, and reducing supply chain issues/disruptions.

Accurate demand planning can help you find the perfect balance between overall costs and customer demand.

How to carry out demand planning…

Lets explore the process of how you carry out your demand planning accurately.

Identify any data you’ll need…

When it comes to demand planning. you can’t just rely on data from one singular area of your business. You will want to take the following into consideration;

  • Sales data
  • Customer data
  • Shipment data

Also take any other data you may feel is relevant into consideration.

Now Collect your data…

If your data has been managed well, then this process should be pretty easy for you. However, if you haven’t managed your data well, this process may be a little more tricky and a little more time consuming (and possibly not as accurate!)

You may also want to consider looking at external factors such as;

  • Industry trends
  • Economic conditions

Organise Your Data…

Once you have collected all of your data, you then need to organise it in a suitable format before ‘cleaning’ up your data.

You want to ensure everything is formatted correctly and consistently across the board to ensure there is a high level of accuracy. Remove any errors and duplicate data.

Don’t take short cuts, they can be costly.

Analyse Your data…

Once you are satisfied with your data, its time to analyse it.

Paying close attention to your sales and inventory data, identify areas where they are key demand drivers, such as; time of year, trends, seasons, marketing, and economic conditions. Cross reference everything.

Visualising the data through charts bars and graphs can help you better understand the data too, so consider doing this.

Succesful B2B and B2C Fulfilment with TSP…

At TSP, we have over 20 years if experience in B2B and B2C fulfilment. We work with a variety of customers from a range of different sectors, all with a variety of needs and requirements that we are able to handle with ease.

Explore our full range of fulfilment services below…

What is Kitting and Assembly?

Kitting and assembly is a fulfilment service that is offered by most 3PL companies. It is a process that involves compiling, or assembling different parts and components together to create one final product, bundle, or kit. It is worth noting that this then becomes one singular SKU rather than multiple.

Kitting and assembly gives you the chance to offer customised bundles, kits, and products, meaning that you can drive more sales through discounts, promotions, etc.

Homeware; Exploring the growing market…

How to calculate your demand…

Lets explore the process of how you carry out your demand planning accurately.

Identify any data you’ll need…

When it comes to demand planning. you can’t just rely on data from one singular area of your business. You will want to take the following into consideration;

  • Sales data
  • Customer data
  • Shipment data

Also take any other data you may feel is relevant into consideration.

Now Collect your data…

If your data has been managed well, then this process should be pretty easy for you. However, if you haven’t managed your data well, this process may be a little more tricky and a little more time consuming (and possibly not as accurate!)

You may also want to consider looking at external factors such as;

  • Industry trends
  • Economic conditions

Organise Your Data…

Once you have collected all of your data, you then need to organise it in a suitable format before ‘cleaning’ up your data.

You want to ensure everything is formatted correctly and consistently across the board to ensure there is a high level of accuracy. Remove any errors and duplicate data.

Don’t take short cuts, they can be costly.

Analyse Your data…

Once you are satisfied with your data, its time to analyse it.

Paying close attention to your sales and inventory data, identify areas where they are key demand drivers, such as; time of year, trends, seasons, marketing, and economic conditions. Cross reference everything.

Visualising the data through charts bars and graphs can help you better understand the data too, so consider doing this.

Homeware; Exploring the growing market…

TSP as your fulfilment partner…

At TSP, we have over 20 years if experience in B2B and B2C fulfilment. We work with a variety of customers from a range of different sectors, all with a variety of needs and requirements that we are able to handle with ease.

Explore our full range of fulfilment services below…

80+ Global Fulfilment Centres

 

We integrate with over 150 platforms

 

18M Sq Ft of Global Warehouse Space

 

Storage, Pick and pack

At TSP we handle everything, starting with the storage, picking, and packing of your products.

We serve a range of markets so we have experience storing, picking, and packing a variety of different products, so we’ve got you covered regardless of what you sell.

Outsourcing your pick and pack with us will help free up your time, while also improving the entire process due to our highly experienced team of staff.

B2B and B2C Fulfilment

Regardless of whether you just do B2C or B2B, or a mixture of both, our team have the knowledge and resources required to successfully get your orders picked, packed, and shipped to your customer or chosen retailer.

While we handle your B2B and B2C fulfilment, you can focus on putting more time and money back into other areas of your business, such as your sales, marketing, and product development.

Shipping and logistics

After we pick and pack your orders, we ship them too.

We ensure you get better deals on shipping and packaging by letting you leverage our buying power, meaning you can save money and put it back into growing your business.

We also partner with a range of couriers, ensuring the needs of your business are being met through a diverse choice in reliable couriers.

Amazon FBM, FBA, SFP…

We are your one stop solution for all Amazon seller services, including FBA, FBM and SFP. With over 20 years of industry experience you can be assured that we are fully equipped to support you..

So regardless of what Amazon service you’re using, or if its a mix of all 3, we’ve got you covered. Check out our Amazon page for more information regarding our Amazon fulfilment services.

Inventory Management

Our cloud-based inventory management system, Mintsoft is easy to navigate and provides you with real time updates so you can always make informed decisions about your stock.

Returns Management

Returns are inevitable when it comes to your eCommerce business, but managing them correctly is a critical aspect on 3PL services. Here at TSP, we will handle the entire process from start to finish, helping you to main a high level of customer satisfaction.

Carbon Neutral Fulfilment

Are you a sustainable business? Looking to become more sustainable? Working with us means you can do your bit for the planet too, since we are a certified carbon neutral 3PL company.

Kitting, Bundling, and Assembly

Do you sell custom bundles or kits? We’ve got you covered. Our team is trained in kitting and bundle building, so you can be assured your customers will receive their orders in an accurate, timely manner.

Global Fulfilment

Do you require international shipping, or are you looking to expand into global markets? We’ve got you covered with our extensive network of couriers and global warehouses.

Explore our global fulfilment solutions page to see how we can help you dominate the global market, right from the heart of Newcastle.

Customs Bonded Warehouse

Here at TSP we are one of the very few Newcastle based order fulfilment companies with a dry bonded warehouse license.

Our network of freight forwarders means you can easily utilise the power of cross-border selling, allowing you to boost sales and drive growth.

Storage, Pick and pack

At TSP we handle everything, starting with the storage, picking, and packing of your products.

We serve a range of markets so we have experience storing, picking, and packing a variety of different products, so we’ve got you covered regardless of what you sell.

Outsourcing your pick and pack with us will help free up your time, while also improving the entire process due to our highly experienced team of staff.

B2B and B2C Fulfilment

Regardless of whether you just do B2C or B2B, or a mixture of both, our team have the knowledge and resources required to successfully get your orders picked, packed, and shipped to your customer or chosen retailer.

While we handle your B2B and B2C fulfilment, you can focus on putting more time and money back into other areas of your business, such as your sales, marketing, and product development.

Shipping and logistics

After we pick and pack your orders, we ship them too.

We ensure you get better deals on shipping and packaging by letting you leverage our buying power, meaning you can save money and put it back into growing your business.

We also partner with a range of couriers, ensuring the needs of your business are being met through a diverse choice in reliable couriers.

Amazon FBM, FBA, SFP…

We are your one stop solution for all Amazon seller services, including FBA, FBM and SFP. With over 20 years of industry experience you can be assured that we are fully equipped to support you..

So regardless of what Amazon service you’re using, or if its a mix of all 3, we’ve got you covered. Check out our Amazon page for more information regarding our Amazon fulfilment services.

Inventory Management

Our cloud-based inventory management system, Mintsoft is easy to navigate and provides you with real time updates so you can always make informed decisions about your stock.

Returns Management

Returns are inevitable when it comes to your eCommerce business, but managing them correctly is a critical aspect on 3PL services. Here at TSP, we will handle the entire process from start to finish, helping you to main a high level of customer satisfaction.

Carbon Neutral Fulfilment

Are you a sustainable business? Looking to become more sustainable? Working with us means you can do your bit for the planet too, since we are a certified carbon neutral 3PL company.

Kitting, Bundling, and Assembly

Do you sell custom bundles or kits? We’ve got you covered. Our team is trained in kitting and bundle building, so you can be assured your customers will receive their orders in an accurate, timely manner.

Global Fulfilment

Do you require international shipping, or are you looking to expand into global markets? We’ve got you covered with our extensive network of couriers and global warehouses.

Explore our global fulfilment solutions page to see how we can help you dominate the global market, right from the heart of Newcastle.

Customs Bonded Warehouse

Here at TSP we are one of the very few Newcastle based order fulfilment companies with a dry bonded warehouse license.

Our network of freight forwarders means you can easily utilise the power of cross-border selling, allowing you to boost sales and drive growth.

Collate your product details and connect your stores / market places

Link you into our preferred courier network

Take delivery of your stock, go live!



Collate your product details and connect your stores & marketplaces.



Link you into our preferred courier network.

Take delivery of your stock, go live!