Bruce Hagenau

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…

BIG THINGS happening here at Supply Chain Now! Have you listened to all the episodes from this week? If not, no worries! Check them all out here:   We started out the week wrapping up our last episode from MODEX 2020 with supply chain visionary Diego Pantoja-Navaja with Oracle.   Supply Chain Now · “Supply Chain Visionary: Diego Pantoja-Navajas with Oracle”   On Tuesday, Scott and Greg were joined by Enrique Alvarez and Adrian Purtill with Vector Global Logistics as they continued the Logistics with Purpose series with special guest Patrick Plonski with Books for Africa.   Supply Chain Now · “Logistics with Purpose: Patrick Plonski, PhD with Books for Africa”   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.   Supply Chain Now · “The Supply Chain Buzz: Week of April 27th”   Scott and Greg were joined by Bobby Holland with U.S. Bank and Lee Klaskow with Bloomberg Intelligence on Thursday as they discussed the key takeaways from the Q1 2020 U.S. Bank Freight Payment Index.   Supply Chain Now · “Analysis of Q1 2020 U.S. Bank Freight Payment…