Stacey Schroeder

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…

Check out everything that’s been happening at Supply Chain Now! We’re looking back on all the latest conversations, interviews, and episodes right here. On Monday, we released a special Memorial Day episode of Veteran Voices, hosts Scott W. Luton and Kelly Barner share their own personal messages, including what Memorial Day means to them and a few examples of those incredible individuals that sacrificed it all for others. On Tuesday, we released 2 new episodes! On this TEKTOK Classic Episode, host Karin Bursa speaks with Lora Cecere, CEO of Supply Chain Insights and industry trailblazer, about her career journey. On TECHquila Sunrise, host Greg White continues his conversation with Jack Freeman of PeakSpan Capital, discussing the current investment environment for supply chain tech. On Wednesday, Dr. Marcell Vollmer with Boston Consulting Group and Jacob Gorm Larsen with Maersk Group joined hosts Kelly Barner and Scott Luton on Dial P for Procurement to discuss digital procurement transformation. On Thursday, we released this week’s episode of The Supply Chain Buzz, powered by OpenText. In this episode, Supply Chain Now Co-hosts Greg White and Scott Luton are joined by Kelly Barner (Host of Dial P for Procurement) to talk about the 2021 Supply…