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How to Predict Demand Using AI With Microsoft Dynamics 365
Posted on: February 3, 2021 | By: Jarrod Kraemer | Microsoft Dynamics AX/365, Microsoft Dynamics Manufacturing
Using AI and predictive insights, you can increase planning agility throughout your production, inventory, and warehouse management. By predicting demand, you can deliver products in a timely manner and ensure the correct resources are in the right place at the right time. With Dynamics 365 for Supply Chain Management, you can plan supply and production in real time through data analytics and logistics. By utilizing predictive analytics, you can increase maximize operational efficiency and product quality while keeping costs low. In this blog post, we will be discussing how to predict demand using AI with Microsoft D365.
Demand Forecasting
Predict independent demand from sales orders and dependent demand at any decoupling point for customer orders. With Dynamics 365 for Supply Chain Management, you can use an enhanced demand forecast reduction rule to provide an ideal solution for mass customization for customers. Further, you can utilize a summary of historical transactions to generate the baseline forecast. With this service, you can more easily meet industry-specific requirements. With SCM, you can visualize forecast, adjust forecast, and also view key performance indicators (KPIs) about forecast accuracy.
Key Features of Demand Forecasting
- Generate a statistical baseline forecast that is based on historical data.
- Use a dynamic set of forecast dimensions.
- Visualize demand trends, confidence intervals, and adjustments of the forecast.
- Authorize the adjusted forecast to be used in planning processes.
- Remove outliers.
- Create measurements of forecast accuracy.
Master Plans
Support your business’s daily working operations and simulate various planning strategies to monitor by configuring master plans. By using various master plans, you can implement a company policy, such as a policy about internal performance or one regarding customer satisfaction. There are two types of plans: static plan and dynamic plan. A static plan is a master planning calculation which uses current data to generate a net requirements plan. A dynamics plan is a plan which updates the dynamics plan every time that the master data changes. Companies can choose whether to work with either just a dynamics plan or both a dynamics and static plan.
Next Steps
If you are interested in learning more about maximizing the use of Microsoft Dynamics 365 for Finance and Supply Chain Management contact us here to find out how we can help you grow your business. You can also email us at info@loganconsulting.com or call (312) 345-8817.
