Susan Woller

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…

Keep up with all the latest conversations, interviews, and episodes right here on Supply Chain Now as we look back on everything that’s happened this week! On Monday, we released 3 new episodes! On Digital Transformers on Supply Chain Now, hosts Kevin L. Jackson and Scott Luton welcome Dr. Evaristus Mainsah, with IBM, to the show to discuss IBM think #2021, post-pandemic digital transformation, using AI to make your workforce even more effective, and exactly what drives innovation. On This Week in Business History, guest host Kelly Barner, Owner of Buyers Meeting Point and Host of Dial P for Procurement remembers key innovations, inventions, and firsts that took place between June 7th and 13th, including the questionable career of Samuel Slater, the tricky first passing of the Panama Canal, and how the Post Office stopped the shipment of children through their national parcel service. On Supply Chain Now en Spanish, host Enrique Alvarez interviews Sofia Rivas Herrera learning about her journey from curious child to industrial engineer to supply chain leader and much more. On Tuesday, we released 2 new episodes! On our Logistics with Purpose series, produced in partnership with Vector Global Logistics, as Pat Plonski, Executive Director of…