Transforming Supply Chain Operations: Demand Sensing and Forecasting Revolutions for Informed Decisions Making

The InterSystems Supply Chain Orchestrator, a data platform equipped with AI and ML capabilities, is making waves in the industry by addressing some of the most pressing challenges in demand sensing and forecasting.

According to a survey of 450 Senior Supply Chain Practitioners and Stakeholders from various industries and countries, the top challenge identified is the reliance on manual processes in demand sensing and forecasting. This is followed by issues with data: its collection, visibility, and analysis.

InterSystems Supply Chain Orchestrator aims to rectify these issues by providing a complete view of an organization's supply chain, harmonizing and normalizing disparate data from various sources. It ingests all relevant data, applies AI and ML capabilities, and offers real-time insights to enable organizations to adjust forecast plans with high levels of accuracy.

The platform is designed to automate demand-sensing and forecasting by integrating inventory management with enterprise resource planning (ERP) and electronic point of sale (EPOS) systems. This capability allows for automation of demand forecasting by sensing and predicting changes in demand accurately.

The survey also found that only 27% of respondents have an intelligent data platform, with less than one-fifth of companies in logistics and transport and pharmaceuticals currently using one. This underscores the need for such a solution, especially as companies strive to optimize their supply chains.

Demand sensing and forecasting are crucial aspects of supply chain optimization. Demand sensing uses real-time data to identify immediate demand fluctuations, while demand forecasting uses historical data to predict future demand. By accurately predicting customer demand, companies can manage their inventory effectively, reduce stockouts, and minimize inventory obsolescence.

The survey respondents also highlighted the importance of measuring forecast versus actual sales, inventory turnover, stockout rates, inventory obsolescence, order fill rates, and on-time in-full percentage. Supply chain visibility, which goes beyond point-to-point tracking solutions, encompassing the entire end-to-end supply chain, is also essential for achieving these goals.

With InterSystems Supply Chain Orchestrator, companies can track the location and status of products, components, and materials as they move through the supply chain. Moreover, the platform uses AI and ML to predict what is likely to happen next and outlines the best options, ensuring maximum effectiveness and minimum delay.

In conclusion, the InterSystems Supply Chain Orchestrator offers a promising solution to the challenges faced by companies in demand sensing and forecasting. By providing a unified, trusted, and harmonized data platform, it enables organizations to navigate sudden events, disruptions, or trends that affect demand with high levels of accuracy.