Mickey Horner

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…

This week at Supply Chain Now has been full of great conversations and key takewaways you don’t want to miss. Check out all the latest episodes, interviews, conversations, and livestreams right here! On Saturday, Scott & Greg Chat Automotive & Leadership with Jim Liegghio & Elba Pareja-Gallagher   On Monday, Scott and Greg welcome SAP business leaders that are fueling industry 4.0, Mike Lackey and Robert Merlo, who share key takeaways from a wide variety of initiatives right here.   On Tuesday, Scott and featured guest Jonathon Karelse, CEO of Northfind Management, lead the conversation surrounding the next big idea for decision making and planning in most companies: Behavioral Economics.   On Wednesday, Scott and Greg hosted welcomed Kara Brown and Will Haraway from LeadCoverage to Supply Chain Buzz where they discussed recent developments in supply chain, key takeaways surrounding customer experience, democratization in the TMS space and technology trends.   On Thursday, Scott and Greg welcomed two business leaders from OMNIA Partners, Lisa Wittmer and Dan Grant, for a discussion on how modern GPO is future-proofing the global supply chain.   And we ended the week with an episode of TECHquila Sunrise. Featured guest Jason Perez, CEO of YARDZ,…