Often the biggest challenge when implementing a successful forecasting process has nothing to do with the analytics. Forecast adoption – incorporating forecasts into decision-making – is just as high a hurdle to overcome as the models themselves. Forecasting is more than analytical models Developing a forecasting process typically begins with
Robert Handfield, PhD, is a distinguished professor of Supply Chain Management at North Carolina State University and Director of the Supply Chain Resource Cooperative. In an episode of the Health Pulse Podcast, Handfield gave his views regarding the challenges health care and life science companies have encountered over the past two years
Getting ahead of an equipment failure can be the difference between millions of dollars saved, and disastrous losses. Predictive maintenance, which uses data and analytics to determine the health of an asset to predict the best time to perform maintenance, is now easier than ever if implemented with a smart,
In today's environment, data is exceedingly important but also increasingly harder to get and manage. A reliable customer data platform (CDP) can provide significant value to retail and consumer packaged goods (CPG) companies. Customer data platforms are used to consolidate and integrate customer and consumer data into a single data source. CDP
You read “First COVID case reported in America” on your phone, not thinking much of it. Why should you, it’s just a regular day in January 2020, right? A couple months later, the world drastically changes. While we have all learned a lot since then, a question that still boggles
Outliers provide much-needed insights into the actual relationships that influence the demand for products in the marketplace. They are particularly useful when modeling consumer behavior where abnormalities are common occurrences or unforeseen disruptions that impact consumer demand. But why do demand planners cleanse out outliers, when many are not really
The past 20 months of disruptions caused by COVID-19 have been a wake-up call for retailers and consumer goods companies. Unpredictable market trends have caused havoc with categories, brands and products making it harder to predict supply requirements. All of these changes have given rise to the need for consumption
The social and economic impact of COVID-19 has dramatically affected supply chains and demand planning across all industries. Then there’s the Amazon effect, which has led to sky-high consumer expectations of the ordering and delivery process. Demand planners for retailers and consumer goods companies have quickly realized they have no
Earth’s natural capital deserves protection – for our sake and for the future. Analytics can help.
The need for agile, accurate demand planning has never been greater. When considering migrating your demand management application to a cloud-native solution, you might experience platform management challenges ranging from lacking the resources needed to oversee application operations, to manipulating maintenance tasks that may distract from growing the business. Why
