Depending on who you speak with you will get varying definitions and opinions regarding demand sensing and shaping from sensing short-range replenishment based on sales orders to manual blending of point-of-sales (POS) data and shipments. Most companies think that they are sensing demand when in fact they are
Analytics-driven forecasting means more than measuring trend and seasonality. It includes all categories of methods (e.g. exponential smoothing, dynamic regression, ARIMA, ARIMA(X), unobserved component models, and more), including artificial intelligence, but not necessarily deep learning algorithms. That said, deep learning algorithms like neural networks can also be used for demand forecasting,
“I do not like this modern technology,” said my father-in-law. “It is making people too lazy. Things are too easy now.” He was referring to my grocery order. I was sitting in his kitchen in Reykjavik, Iceland, the day before my return to the United States. I had just explained
Let me start by posing a question: "Are you forecasting at the edge to anticipate what consumers want or need before they know it?" Not just forecasting based on past demand behavior, but using real-time information as it is streaming in from connected devices on the Internet of Things (IoT).
Are you caught up in the machine learning forecasting frenzy? Is it reality or more hype? There's been a lot of hype about using machine learning for forecasting. And rightfully so, given the advancements in data collection, storage, and processing along with technology improvements, such as super computers and more powerful
Recently I backed into a hotel parking spot after returning from a customer dinner. It was dark and rainy, and I was tired from traveling. My mind wandered until I heard a shrill “BEEP BEEP BEEP” coming from my rental car. I looked down at the dashboard’s rear-view camera, and
The widespread adoption of the term "analytics" reminds me of the evolution of the term "supply chain management." Initially the term focused on supply chain planning. It involved demand and supply balancing and the heuristics and optimization tools that came out of advanced planning and scheduling. Over time practically everything was included
Quality in every thought, every action, every outcome You might think differentiating on the quality of your products is a no-brainer – who wouldn’t seek to make every product incredibly high quality? Yet experience shows us that many manufacturers only capture data from the production line. While this approach creates
Omnichannel Analytics are helping companies uncover patterns in big data to improve the customer experience. Using those insights, companies can anticipate what consumers are planning to purchase and influence that purchase in real time. Companies are experiencing unprecedented complexity as they look for growth and market opportunities. Their product portfolios are
Manufacturers are used to operating in challenging circumstances – whether financial, economic, political or competitive. And it's a good thing since the coming years seem likely to be as uncertain as those following the global economic crash. But manufacturing will have an excellent opportunity to thrive because, like many sectors,
