Steffanie Ness

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 might have been a short week for some, but at Supply Chain Now, it was chock-full of great interviews, conversations, livestreams, and episodes!   For a bonus episode on Saturday, Scott and Greg welcomed Tyson Steffens with Pallet Alliance and Jom Fechner with USG to the podcast to talk about building a national procurement program and optimizing your spend.   Supply Chain Now · “How and Why to Build a National Procurement Program to Optimize Your Spend”   On Monday, Scott dug back into the archives for This Week in Business History, and gave us all the story behind Labor Day.   Supply Chain Now · “This Week in Biz History for September 7th: The Story Behind Labor Day”   On Tuesday, Jamin Alvidrez joined Scott as co-host, and welcomed a couple of amazing people in logistics and transportation, Trey Griggs with Lean Sales and Nicole Glenn with Candor Expedite.   Supply Chain Now · “The Amazing People of Logistics & Transportation: Featuring Nicole Glenn & Trey Griggs”   Tim Judge with Agillitics and Nate Endicott with RateLinx joined Scott and Greg on Wednesday for a great conversation on agile decision making in supply chain.   Supply Chain Now…