Demand sensing is a process used by businesses to anticipate customer demand and make sure they have the right products in the right place at the right time. It involves collecting and analyzing data from multiple sources, such as sales, marketing, and customer feedback, to create an accurate picture of current and future customer demand. By understanding customer needs and preferences, businesses can adjust their inventory and production levels to meet customer demand. Demand sensing also helps businesses reduce their inventory costs, as they can avoid overstocking or understocking products. Additionally, demand sensing can help businesses improve their customer service by providing customers with the products they need when they need them. Overall, demand sensing is an essential process for businesses that want to remain competitive in today’s market.
