Over the last few decades, technology has contributed to significant change in supply chain processes, hence businesses need to move from traditional approaches to newer & better ways. With operations planning increasingly linked to competitive advantage and profitability, it's imperative for businesses to have better visibility through automation.
Recent global changes have brought immense shifts in supply chain, online consumer behavior, safety protocols and standards. These uncertainties have essentially made traditionally planning processes of monthly demand forecasting redundant. Due to the ever-changing dynamic nature of demand and supply, even weekly plans become irrelevant pretty soon. In order to stay on top of your customers' changing needs and align the supply side appropriately, demand sensing is the direction to undertake.
Demand sensing enables organizations to incorporate real time data leading to faster response times. Fundamentally, AI based demand sensing approaches create seamless supply chains resulting in accurate demand predictions. Building a robust demand prediction system is one of the core foundations for seamless and scalable operations and requires a combination of science and art. Download this whitepaper to discover 10 best practices that are crucial for accurate demand predictions.
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