What is demand sensing in SAP SCM-IBP-DM - Demand?

SAP Term: demand sensing

• Component: SCM-IBP-DM

• Component Name: Demand

• Description: A forecasting method that leverages incoming demand signals to create an accurate forecast of demand, based on the current state of the supply chain. Open orders, social sentiments, and point-of-sale data are all examples for demand signals that are sensed and analyzed by the system.

Smart SAP Assistant

• Key Concepts: 
  Demand sensing is a component of SAP's Supply Chain Management (SCM) and Integrated Business Planning (IBP) solutions. It is a predictive analytics tool that uses machine learning algorithms to analyze historical sales data and forecast future demand. It helps companies to better understand customer demand patterns and make more accurate decisions about inventory levels, pricing, and promotions. 
  
  How to use it: 
  Demand sensing can be used to create forecasts for different products or product categories. It can also be used to identify trends in customer demand and adjust inventory levels accordingly. The tool can be used to create detailed reports that provide insights into customer behavior and help companies make better decisions about pricing, promotions, and inventory management. 
  
  Tips & Tricks: 
  When using demand sensing, it is important to ensure that the data being used is up-to-date and accurate. Additionally, it is important to regularly review the forecasts generated by the tool to ensure they are still relevant. Finally, it is important to use the insights generated by the tool to inform decisions about pricing, promotions, and inventory management. 
  
  Related Information: 
  For more information on demand sensing, please visit SAP's website at https://www.sap.com/products/scm-ibp-demand-sensing.html. Additionally, there are many resources available online that provide more detailed information on how to use the tool effectively.