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

SAP Term: sensed demand

• Component: SCM-IBP-DM

• Component Name: Demand

• Description: The demand calculated from the long-term consensus forecast and from demand signals such as open sales orders and point of sales data the quantity of products sold in a certain period.

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• Key Concepts: 
  Sensed demand is a term used in SAP's Supply Chain Management (SCM) and Integrated Business Planning (IBP) Demand Sensing component. It is a process of using predictive analytics to forecast customer demand based on historical data, current market trends, and other external factors. This helps businesses to better anticipate customer needs and plan their supply chain accordingly. 
  
  How to use it: 
  Sensed demand can be used to create more accurate forecasts of customer demand. This can help businesses to better plan their supply chain and ensure that they have the right amount of inventory on hand at all times. The Demand Sensing component of SAP's SCM-IBP suite provides tools for businesses to analyze customer data and create more accurate forecasts. 
  
  Tips & Tricks: 
  When using sensed demand, it is important to keep in mind that the accuracy of the forecast will depend on the quality of the data being used. It is important to ensure that the data being used is up-to-date and accurate in order to get the most accurate forecast possible. Additionally, it is important to consider external factors such as market trends when creating forecasts. 
  
  Related Information: 
  For more information about sensed demand and how it can be used in SAP's SCM-IBP suite, please refer to the official SAP documentation here: https://help.sap.com/viewer/product/SCM_IBP_DM_DEMAND_SENSING/latest/en-US