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There is no such thing as a perfect forecast. This is the general message of Carol Ptak of the Demand Driven Institure at the recently concluded Supply Chain Insights web seminar.
Therefore, companies need to stop investing in creating a perfect forecast and start establishing more connectivity across the organization. A perfect forecast does not necessarily result in an overall improvement in the supply chain.
Ptak further said that it is not anymore a matter of “what can I build and when?” Supply chain chiefs should be asking “what does my customer want and when?” This ability to sense and address changing customer demands is what being demand-driven is all about.
In this article by demand-driven analytics and supply chain optimization provider ToolsGroup, planners from companies like Accenture and Kellogg share their insights on the shift towards becoming demand-driven and why companies need to start their journey right away.
ToolsGroup offers a single integrated system that can fine tune forecasts with demand sensing capabilities and replenish inventory by recommending new orders and/or reallocation from suppliers. As a result, supply chain planners are able to achieve sustainable shelf fill rates as high as 99+% with less global inventory.
ToolsGroup is present in the Philippines via technology consulting company MISNet. For inquiries, call 621-9202 and ask for Yanna or email email@example.com.