Bill DeMartino

Special Guest Blog Post written by Chris Cunnane with InterSystems   Demand sensing and demand forecasting are both crucial aspects of optimizing supply chains, but they do have slightly different functions in their approach and focus. Demand sensing uses real-time data and analytics to identify and respond to immediate demand fluctuations, while demand forecasting uses historical data to predict future demand over a longer period (months or years). Different methods, such as statistical modeling and machine learning, are used to enhance the accuracy and adaptability of these processes. Both areas are crucial for companies when it comes to projecting sales, managing inventory, and coordinating replenishment. In the end, the goal is to accurately predict customer demand by using predictive models to forecast future demand. InterSystems surveyed 450 senior supply chain practitioners and stakeholders to examine key supply chain technology challenges, trends, and decision-making strategies across five key use cases: fulfillment optimization; demand sensing and forecasting; supply chain orchestration; production planning optimization; and environmental, social, and governance (ESG). This blog focuses on demand sensing and forecasting.   Current State of Demand Sensing and Forecasting According to the survey results, when asked how they currently forecast demand, 36% of respondents indicated that…

It has been another busy week for Supply Chain Now! Did you catch all the episodes? If not, no worries! Check them all out here:   We started out the week with a new episode in our Logistics with a Purpose series sponsored by our good friends at Vector Global Logistics. Listen as Scott, Greg, and Enrique have a great conversation with Mickey Horner with Rise Against Hunger.     On Tuesday, Scott and Greg were joined by AIAG’s CR Summit speaker Joerg Walden, CEO of iPoint.     Then we published the new and improved Supply Chain Buzz, with Scott and Greg sharing and discussing the latest news and events in Supply Chain and beyond.     Scott and Greg were joined by Randy Strang with MedShare on Thursday for another episode in the Logistics with a Purpose series, sponsored by Vector Global Logistics.     And to wrap up the week, Scott and fellow host Fred Tolbert with Demand Solutions were proud to host three exceptional Supply Chain students from the University of Georgia’s Terry College of Business.