Trey Griggs

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…

Stay up to date on all the latest conversations, interviews, and episodes we released this week here at Supply Chain Now. We started our week off by publishing a Digital Transformers episode hosted by Kevin L. Jackson. This week he welcomes special guest Trina Limpert with RizeNext. On This Week in Business History, Scott shares a special story that is near and dear to his heart. This episode highlights Scott’s grandfather Dick Rutland. Scott highlights his grandfather’s experiences with Winn-Dixie and Kimberly Clark. On Tuesday, we released an episode of TEKTOK with hosts Scott Luton and Karin Bursa. These two had the amazing opportunity to interview Matthew Harding SVP of Data Science & Engineering, and Ben Cubitt, SVP of Consulting and Network Services at Transplace. For this episode of Supply Chain Now Scott and Greg had the opportunity to interview two important UPS figures: Daniel Gagnon, Vice President of Global UPS Healthcare Marketing and Strategy, and Tim Fosnough, Senior Director of UPS Global Freight Forwarding. During this conversation, UPS responses to the COVID-19 pandemic were discussed. On Thursday, we also released another episode of the Supply Chain Buzz featuring Aaron Meredith from Verusen. Scott, Greg, and Aaron covered all the…