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Machine Learning in Demand Planning: How to Boost Forecasting

ToolsGroup

Machine learning (ML)a specialized field within artificial intelligence (AI)is revolutionizing demand planning and supply chain management. According to McKinsey , organizations implementing AI-driven demand forecasting solutions can reduce forecast errors by 30% to 50%.

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Aligning Supply Chain Metrics to Improve Value

Supply Chain Shaman

In follow-up qualitative interviews, one of the largest issues with organizational alignment was metric definition and a clear definition of supply chain excellence. In my post Mea Culpa, I reference my work with the Gartner Supply Chain Hierarchy of Metrics. Error is error, but is it the most important metric? My answer is no.

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Demand Planning: Whipped And Chained by Tradition

Supply Chain Shaman

Given your expertise, I’d love to hear what alternatives you recommend for better demand forecasting and real-time visibility beyond what’s commonly adopted today.” I know that your primary focus is procurement. Over the last two years, I actively engaged technologists and business leaders to redefine demand planning.

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Probabilistic Forecasting: The Future of Supply Chain Planning

ToolsGroup

Advanced supply chain planning software leverages these probability distributions to optimize inventory targets, balancing service levels against carrying costs with mathematical precision. However, this approach ignores real purchasing behavior, such as customers buying complete sets of four tires. The result?

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Advanced Supply Chain Planning with Probabilistic Forecasting

ToolsGroup

Advanced supply chain planning software leverages these probability distributions to optimize inventory targets, balancing service levels against carrying costs with mathematical precision. However, this approach ignores real purchasing behavior, such as customers buying complete sets of four tires. The result?

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Fashion Industry Challenges Require Elegant Demand Planning

ToolsGroup

When you’re perusing luxury handbags online, or testing which cocktail dress suits you the best, you probably don’t pause to consider all the supply chain complexities and analytics required to ensure the fashion items you’re craving are in-stock. Demand planning for direct and indirect channels.

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Pandemic Lessons For Supply Chain Leaders

Supply Chain Shaman

The Failure of Existing Demand Planning Solutions. During the pandemic, supply chain leaders turned off their demand planning solutions. Baseline demand reflects market potential.) Resist the temptation to place deeper analytics on top of existing data models. What are functional metrics?