Improvement of Demand Management Process by Implementing Forecasting Models and Tools (the Case of Henkel Rus)

The relevance of the chosen topic of improving the process of demand management in the implementation of models and forecasting tools is due to the fact that at present, complex and extended supply chains, improving the accuracy of the forecast is a compelling necessity for achieving the company's growth, primarily as well as increasing profits. There is no doubt that more accurate forecasts can lead to lower inventories and better customer service. Especially important is the successful planning when introducing new products to the market, because they are the companies to stay ahead of their competitors. The best predictions ensure that the right product is launched at the right time and will be in the right place at the right time, providing improved levels of customer service and reducing the need for constant rapid response, acceleration and prioritization of supplies, frequent reorganization of production lines from one product to another. Keywords: forecasting of demand, methods and approaches to forecasting of novelties, information technologies, product life cycle