Lecture 8
Under the best conditions (which no one would say of 2020), forecasting demand is tricky. The hot product this week may be in the discount bin by the next. Swift changes in customer demand make demand forecasting one of the most significant challenges supply chain management professionals face.Read more on this free link
1.1 What is Demand Forecasting?Demand forecasting is, in essence, developing the best possible understanding of future demand. In practice, this means analyzing the impact of a range of variables that affect demandRead more on this free link
Demand forecasting is the process of using predictive analysis of historical data to estimate and predict customers’ future demand for a product or service. Demand forecasting helps the business make better-informed supply decisions that estimate the total sales and revenue for a future period of time.Read more on this free link
Market demand forecasting is a critical process for any business, but perhaps none more so than those in consumer packaged goods. Inventory, production, storage, shipping, marketing – every facet of CPG and retail companies’ operations are affected by accurate forecasting. Read more on this free link
Demand planning can sometimes seem like a fruitless exercise. Forecasts frequently miss the mark. And then companies are left scrambling when a stockout is imminent and their best-laid demand plans need to be scrapped. Read more on this free link
If the vision of Industry 4.0 is to be realized, most enterprise processes must become more digitized. A critical element will be the evolution of traditional supply chains toward a connected, smart, and highly efficient supply chain ecosystem.Read more on this free link
Digitization has touched upon all aspects of businesses, including supply chains. Technologies such as embedded sensors, GPS, and RFID have helped companies transform their existing traditional (a mix of paper-based and IT-supported processes) supply chain structures into more agile, flexible, open, and collaborative digital models. Read more on this free link
Supply chain digitalisation is when a business embraces digital technology to improve its processes and how it works both internally and with customers and suppliers. It takes human-driven events and uses digital technology to make them software-driven. Read more on this free link
Building a Resilient Supply Chain by Paul Michelman : Threats to your supply chain, and therefore to your company, abound—natural disasters, accidents, and intentional disruptions—their likelihood and consequences Read more on this free link
A sustainable supply chain is one that fully integrates ethical and environmentally responsible practices into a competitive and successful model. Read more on this free link
The goal of this report is to provide small- to medium-sized enterprises (SMEs) with the tools and knowledge to begin making changes to their business that benefit the triple bottom line—financial, social, and environmental success Read more on this free link
Supply Chain Flexibility: Why your customers need it. Being able to respond to supply chain disruptions, changes in demand and external market variations is supply chain flexibility. Read more on this free link
Industrial companies can optimize and increase the flexibility of their supply chains—and improve their bottom lines—by using a new approach. Read more on this free link
Six steps to effective network planning. Supply chain network planners don't have it easy. Their job is to evaluate complex tradeoffs among supply chain components, maximizing profits and minimizing costs within the limits of relevant constraints and intangible considerations. Read more on this free link
Biden-Harris Administration Announces Supply Chain Disruptions Task Force to Address Short-Term Supply Chain Discontinuities Read more on this free link