What is demand in SAP SRD-SCM-DP - SCM-Demand Planning?

SAP Term: demand

• Component: SRD-SCM-DP

• Component Name: SCM-Demand Planning

• Description: The amount of a product or service required at a particular time. Demand can come from various sources including; sales orders, forecasts, production, and intercompany needs.

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• Key Concepts: 
  Demand is a term used in SAP SCM-Demand Planning to refer to the amount of a product or service that customers are willing to purchase. It is an important factor in determining the supply and demand balance of a company's products and services. Demand can be estimated using various methods, such as market research, customer surveys, and historical data.
  
  How to use it: 
  In SAP SCM-Demand Planning, demand can be used to create forecasts for future sales. This helps companies plan their production and inventory levels accordingly. Demand can also be used to identify trends in customer behavior and preferences, which can be used to inform marketing strategies.
  
  Tips & Tricks: 
  When creating forecasts for demand, it is important to consider external factors such as economic conditions, seasonality, and competition. Additionally, it is important to consider internal factors such as pricing strategies and promotional activities.
  
  Related Information: 
  For more information on demand planning in SAP SCM-Demand Planning, please refer to the official SAP documentation. Additionally, there are many online resources available that provide tips and tricks for creating accurate forecasts for demand.