Demand Chain Management: Factors Enhancing Market Responsiveness Capabilities

For growth and long-term sustainable performance in the era of globalization, corporate enterprises have been facing a number of challenges as customer needs and expectations continually change over time. It has resulted in increased market turbulence and intense competition. Simultaneously, information technology advancements have provided an opportunity for marketers to be more customer focused. Real-time delivery of superior value in a cost-efficient way to customers has become the latest mantra. For this purpose, firms must enhance their market responsiveness capabilities. Demand chain management (DCM) is a new tool in the hands of the management that deals with all assets, information, and processes to define demand followed by synchronization of various activities to fulfill demand on a real-time basis by managing flow of information and products efficiently and effectively. The focus of this article is to explore various factors of DCM that would help firms in enhancing their market responsiveness capabilities in a dynamic business scenario.