Paola Nunez

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’s safe to say supply chain podcasters won’t run out of things to talk about this year. With ever-evolving policies like the United States’ changing trade levies, experienced supply chain podcasts aren’t outlining podcasts, booking guests, or recording programs too far in advance. These days, material can be stale before it even airs! Trust Supply Chain Now to keep abreast of the very latest developments on the compliance and trade fronts to keep podcast listeners up to date. Tariffs: Keeping Up With Policy Shifts The United States’ trade relationships with many countries around the world have become rocky under the new Trump administration. At the time of writing, President Trump had imposed 25% tariffs on all products from Canada and Mexico. Canada immediately responded March 4 with 25% tariffs on nearly $21 billion of U.S. goods, with levies on another $86 billion of American products promised by March 25. Two days later, Trump suspended the tariffs on most goods from Canada and Mexico and moved the implementation date to April 2. The president also increased the tariff on Chinese imports from 10% to 20%. China retaliated with 15% tariffs on U.S. chicken, wheat, corn, and cotton and 10% tariffs on…