Demand Management
Demand management is the process of creating and implementing strategies to balance the demand for goods and services with their supply. It is an integral component of the overall supply chain planning and management process, as the aim is to ensure optimal allocation of resources and minimize costs. Demand management strategies involve forecasting and analyzing customer demand, optimizing inventory levels, and optimizing pricing and promotions. Adopting an effective demand management strategy can lead to improved customer service levels, as well as maximize efficiency and profits.
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