- Free Version: Available for teams of up to 10
- Pricing: Premium plan $24/seat/month (with free 30-day trial period)
- Platforms supported: Available as a mobile app (iOS and Android) or a web-based software
Why Use SafetyCulture?
An award-winning workplace operations platform, SafetyCulture offers functionalities that support various aspects of retail operations, including retail demand planning. Large chain stores to humble specialty shops trust this brand because of its advanced analytics, helping them make informed decisions to optimize their inventory levels. Best of all, organizations can manage their operations and access critical data from anywhere, allowing them to respond to market fluctuations swiftly.
Features:
- Empower supply chain and operations managers to make strategic decisions, resolve disruptions, and maintain agility despite unexpected changes with data-driven insights.
- Effectively manage partners across the supply chain by accessing crucial data across different systems (e.g., Enterprise Resource Planning (ERP), inventory, Point-of-Sale (POS), etc.) through integrations.
- Acquire accurate information about current inventory, market changes, and customer demands using downloadable survey templates and inspection checklists.
- Ensure customer requirements are met by maintaining optimal stock levels through regular inventory audits.
- Align strategies between departments and external partners by enhancing collaboration through seamless communication.
Why Use Datup?
A highly specialized solution meant for demand and inventory planning, Datup considers hundreds of external factors. It integrates those with the company’s relevant data from their systems (e.g., ERP, Warehouse Management System (WMS), and Customer Relationship Management (CRM)) to refine demand prediction. By leveraging AI and deep learning tech, organizations using Datup can get more accurate forecasts for continuous improvements.
Features:
- AI-powered analytics
- External variable review
- Excel data export
- Free Version: No
- Pricing: Contact the vendor for pricing
- Platforms supported: Available as web-based software
Why Use Forecast Pro?
An off-the-shelf forecasting package made for businesses across industries, Forecast Pro combines AI, machine learning, and various statistical predictive methods to acquire reliable projections. Aside from its comprehensive tools, it offers rates that small to medium-sized retailers can capitalize on.
Features:
- Automatic AI-driven forecasting
- Customized hierarchies with multiple units of measure
- Forecast adjustment and collaboration
- Free Version: No
- Pricing: Starts at $1,995/user (with a free trial)
- Platforms supported: Available as an on-premise software
Why Use Anaplan?
A cloud-based business planning platform that supports the needs of retail organizations and other industries, Anaplan is one of the best solutions for forecasting retail demands. With real-time data integrated into various systems and communicated to teams, companies can respond immediately and confidently.
Features:
- Demand signal capture
- Multiple scenario modeling
- Visualization
- Free Version: No
- Pricing: Contact vendor for pricing (with a free trial)
- Platforms supported: Available as a mobile app (iOS and Android) or a web-based software
Why Use Relex?
A fully integrated enterprise resource management platform, Relex is a good solution for companies focusing on demand forecasting, inventory optimization, and replenishment. With features tailored specifically for retailers, they can address unique challenges like seasonal trends, competitor promotions, and other external factors.
Features:
- Demand planning
- End-to-end inventory management
- Store execution
- Free Version: No
- Pricing: Contact vendor for pricing
- Platforms supported: Available as a web-based software
Why Use Kinaxis?
A comprehensive supply chain management platform known for its synchronous planning capabilities across departments and regions, Kinaxis is a top-rated option for businesses that prioritize agility in a continuously evolving market. With end-to-end visibility and real-time scenario analysis, retailers can trust their decisions.
Features:
- Advanced analytics
- Multi-echelon inventory optimization
- Supply chain orchestration
- Free Version: No
- Pricing: Contact vendor for pricing
- Platforms supported: Available as a mobile app (iOS and Android) or a web-based software
Why Use Netstock?
With a focus on demand forecasting and inventory optimization, Netstock is the right choice for demand planning for both large and small retailers. Aside from delivering quick returns on investment due to its streamlined processes, many praise it for its user-friendly interface.
Features:
- Inventory optimization
- Demand and capacity planning
- Supplier performance
- Free Version: No
- Pricing: Contact for pricing
- Platforms supported: Available as a mobile app (iOS and Android) or a web-based software
What is Retail Demand Planning Software?
Retail demand planning software is a specialized solution that enhances inventory management and sales performance by accurately predicting consumer demand. It leverages historical sales data, external market trend analysis, and advanced predictive analytics to generate accurate forecasts, enabling retailers to minimize stockouts and overstocking and improve overall sales efficiency.
Importance and Benefits
Managing customer demand is a critical process in the retail industry. This labor-intensive task usually requires hours of meticulous review of historical data, from customer demographics and purchase history to competitor activity and market trends. This task is made simpler and less erroneous with a full-featured digital solution.
The software relies on automated data collection and advanced analytics, providing data-driven insights to optimize retail inventory. With precise results, retailers can prevent inefficient stocking, reducing or eradicating problems like lost sales and increased carrying costs. Ensuring product availability improves shopping experiences, improving customer loyalty and satisfaction. Finally, the software minimizes wastage, supporting the company’s sustainability goals.
Key Features
Retail demand planning is usually a major application in comprehensive supply chain platforms. Businesses not able to invest in this full-featured software can use a stand-alone solution as long as it has these essentials:
- Data collection tools (e.g., historical sales, customer feedback, etc.)
- Analytics (e.g., scenario planning and what-if analysis)
- Predictive demand forecasting
- Inventory optimization
- Sales and operations planning
- Supplier collaboration tools
- Replenishment planning
- Promotion and markdown management
- Multi-channel integration (e.g., POS)
- Mobile accessibility with offline capabilities
How to Choose the Right Retail Demand Planning Software
Retailers, from large multinational chains to small boutiques, can use any of the solutions described to improve demand planning and inventory management. Review your options in the summary below and see which suits your needs and budget best:
| Retail Demand Planning Software | Free Version | Paid Plan | Mobile App |
| SafetyCulture | Yes | $24/seat/month* | Yes |
| Datup | No | Contact vendor for pricing | No |
| Forecast Pro | No | $1,995/user | No |
| Anaplan | No | Contact vendor for pricing | Yes |
| Relex | No | Contact vendor for pricing | No |
| Kinaxis | No | Contact vendor for pricing | Yes |
| Netstock | No | Contact vendor for pricing | Yes |
* billed annually
Eunice Arcilla Caburao