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Can Improving Forecast Accuracy Address Our Demand Planning Woes?

Logistics Viewpoints

If “the forecast is always wrong,” is improving forecast accuracy even the solution to our demand planning woes? Artificial intelligence and machine learning ( AI/ML ) can improve forecast accuracy, but a bigger problem is the failure to set accurate expectations around forecasting models, not the accuracy of the models themselves.

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How Supply Chain Orchestration Can Help Prevent Drug Shortages

Logistics Viewpoints

I’ll describe three of the top areas: seamless collaboration, improved forecast accuracy embedded in the supply chain workflow, and disruption response. Historically these roles are siloed, focused on their own functional metrics. Had we forecasted that, we would have built a different supply chain.”

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What is Supply Chain Visibility and Why Isn’t It Enough?

Logistics Viewpoints

And the linked nature of supply chains mean that collaboration is necessary to ensure that a solution to a problem doesn’t meet the metrics for one link but negatively impact another. For example, it can be more effective to make a series of forecasts, accounting for a range of outcomes from aggressive to conservative.

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Better Ways to Address Trade-Offs with Supply Chain Optimization

Logistics Viewpoints

Malcolm McLean, a trucker from North Carolina, was tired of waiting. Imagine you are a high-tech manufacturer with more inventory in stock than your forecasted production volume, which puts you in good company, since US manufacturers’ inventories continue to rise.

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Beware the Swinging Pendulum on Supply Chain Inventory Practices

Logistics Viewpoints

If it has, newer AI-powered forecasting approaches can improve demand estimates, providing planners inputs into how persistent that change will be using demand sensing. Polly Mitchell-Guthrie is the VP of Industry Outreach and Thought Leadership at Kinaxis , the leader in empowering people to make confident supply chain decisions.

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How Can Paper Producers Rise to the Production Challenge?

USC Consulting Group

The novel coronavirus has produced a lot of uncertainty, and for manufacturers in the pulp and paper industry, that includes uncertainty related to demand. For the most part, the pulp and paper industry was able to make the necessary adjustments, as formerly hollowed-out store shelves are full once again. and worldwide.

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How to implement a supply chain management system

Unleashed

Industry leaders predict that in the coming years, more businesses will adopt fully integrated, digitized solutions in order to streamline their activity and secure a competitive advantage. . Unleashed began life as an inventory management tool , and has expanded into a full business management solution for product-based industries.