Material Forecasting as a Consumption Based Planning Strategy

Ensuring the Right Inventory at the Right Time

Does your consumption strategy align with your forecast inputs? If the answer isn’t a resounding “yes”, then you are not meeting that all-important balance between demand and supply—and that puts you at a strategic disadvantage. But here’s the good news: SAP Material Forecast Planning (MFP), a method of Consumption Based Planning (CBP) can help you ensure available inventory meets expected demand in a cost-controlled way to meet your inventory optimization goals. And as a bonus, it enables you to exceed customer expectations.

Increasingly in these competitive and uncertain times, inventory optimization has become a strategic and competitive imperative. For inventory planners to succeed in fulfilling organizational customer promises, they must consistently be right on top of making sure the right materials are at the right place at the right time. That means effectively planning what products to produce, by when, and in what quantities to meet current and future demand fluctuations, all at the lowest cost possible.

When that actually occurs, you achieve a number of amazing outcomes. Your inventory and inventory orders become more accurate, you achieve better service levels with less inventory, and you gain measurable increases in efficiency and productivity. This leads to a better organized and exception oriented supply chain, a managed warehouse that offers time and money savings, and ultimately, satisfied customers that keep coming back for more.

The alternative—not committing to inventory optimization—can end up being inefficient and costly. That is why SAP Material Requirements Planning (MRP) is an essential option to help both inventory planners and the organization at large to maintain optimal inventory levels and align production to drive agility and resilience in supply.

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