Corey Mabry

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…

Stay up to date on all the latest conversations, interviews, and episodes we released this week here at Supply Chain Now. On Monday, we released 2 new episodes! On this episode of Digital Transformers, produced in partnership with TNS, host Kevin L. Jackson welcomes Praveen Rao, Managing Director with IBM, to the podcast. On This Week in Business History, host Scott W. Luton relates true stories marking notable anniversary dates this week, including the Federal Aid Highway Act of 1956, the first Chevy Corvette to be produced in 1953, & more! On Tuesday, we released an episode of TEK TOK! In this episode, host Karin Bursa dives into 6 strategies that supply chain innovators are doing now to become more resilient. On Wednesday’s episode of Supply Chain Now, Scott Luton and Kelly Barner, Host of Dial P for Procurement, dive into the friction between North Face and the oil and gas industry – an industry that supplies the substance and materials North Face needs to make its products. Despite this, North Face is concerned with protecting their brand from the potential damage of publicly associating with oil and gas, leaving them in a tough spot with regard to their supply…