Rafael Aparicio

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…

Step up your supply chain strategy by checking out 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 Supply Chain Now, hosts Scott and Greg welcome Nicci Scott with Commercial Transport Academy and Jenny Froome with SAPICS for the next installment of the Supply Chain Across Africa series. On This Week in Business History, host Scott W. Luton sheds light on 3 historical milestones that enabled us to move faster: cars, coasters, & computers. On Tuesday, we released 2 new episodes! On this episode of TEK TOK, host Karin Bursa takes us through 6 strategies to boost resilience, agility, and response in your organization’s supply chain. On TECHquila Sunrise, we’re looking back on a “Sunrise Special” episode where host Greg White shares how venture capitalists decide which companies to invest in (and how much!). On Wednesday, host Scott Luton welcomed Deborah Dull, Supply Chain Product Management at GE Digital, and Mucai Kunyiha, Chairman of the Kenya Association of Manufacturers and Group Chief Executive Officer of Kzanaka Ltd, to the podcast. On Thursday, we released a replay of our Manufacturing Monday edition of…