Announcing product lifecycle support for AWS Supply Chain Demand Planning
Starting today, AWS Supply Chain Demand Planning users can ensure forecasts are only created for the product's active lifecycle by establishing forecast parameters for product introduction and retirement phases and improve forecast accuracy.
Starting today, AWS Supply Chain Demand Planning users can ensure forecasts are only created for the product's active lifecycle by establishing forecast parameters for product introduction and retirement phases and improve forecast accuracy.
This launch allows demand planners to ingest the product introduction and retirement dates directly within the AWS Supply Chain Data Lake. AWS Supply Chain Demand Planning provides additional flexibility through a configuration to adjust the forecast start and end dates based on the product introduction and retirement dates and utilizes this information to define valid forecasting periods. Also, to address the forecasting challenges for brand new products that do not have any predecessor or similar products, planners can now configure an initial forecast value and set a stabilization period during which this initialized forecast value should be applied. This ensures that the forecast accuracy at start and end of lifecycle is improved, consequently minimizing the risk of shortages for new products and overstocking for discontinued products. Furthermore, planners can now efficiently manage product lifecycle for demand planning and inventory management decisions through visibility to lifecycle indicators and metadata displayed on the user interface.
This feature is available to customers at no additional cost and is available in US East (N. Virginia), US West (Oregon), Asia Pacific (Sydney) and Europe (Frankfurt). Please visit AWS Supply Chain to learn more and get started.