What is demand in SAP MA-SMOPS - SmartOps?

SAP Term: demand

• Component: MA-SMOPS

• Component Name: SmartOps

• Description: The need for a particular product or component. For every period, there is an unknown need for products at a given stocking point. The statistical distribution of this is a function of many variables including, but not limited to, price, competitor prices, advertising, state of the economy, product quality.

Smart SAP Assistant

• Key Concepts: 
  Demand in SAP MA-SMOPS SmartOps is the amount of a product or service that customers are willing to purchase at a given price. It is an important factor in determining the supply and pricing of a product or service. Demand can be affected by a variety of factors, such as economic conditions, customer preferences, and competition.
  
  How to use it: 
  In SAP MA-SMOPS SmartOps, demand can be used to help determine the optimal supply and pricing of a product or service. The demand for a product or service can be monitored over time to identify trends and changes in customer preferences. This information can then be used to adjust the supply and pricing of the product or service accordingly.
  
  Tips & Tricks: 
  When monitoring demand for a product or service, it is important to consider both short-term and long-term trends. Short-term trends may indicate changes in customer preferences that need to be addressed quickly, while long-term trends may indicate larger shifts in the market that need to be addressed over time.
  
  Related Information: 
  Demand is closely related to supply and pricing. When demand increases, supply must also increase in order to meet customer needs. Similarly, when demand decreases, supply must also decrease in order to avoid oversupply. Pricing must also be adjusted accordingly in order to remain competitive in the market.