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- Historical Sales Data: Past sales data is a fundamental parameter for demand planning. It helps in identifying patterns that can be used to forecast.
- Market Trends: Understanding market trends, including economic conditions, industry trends, competitor actions, and consumer preferences.
- Promotional Activities: Promotions, discounts, and marketing campaigns can influence demand levels. Demand planners need to consider the timing, duration, and effectiveness of promotional activities when forecasting demand.
- Seasonality: Many products experience seasonal demand variations influenced by factors such as holidays, weather, and cultural events.
- New Product Launches: Introducing new products or product variants can impact demand for existing products.
- Supply Chain Factors: Factors such as lead times, production capacity, supplier performance, and transportation constraints can affect the availability of products and influence demand patterns.
- External Events: External events like natural disasters, regulatory changes, geopolitical tensions, and pandemics can disrupt supply chains.
- Customer Behavior: Understanding customer behavior, preferences, purchasing habits, and buying cycles is crucial for demand planning.