At a time when businesses in virtually every industry facing gaining demand volatility. And rapidly-evolving market behavior, sophisticated demand forecasting models are more important than ever. But what is demand forecasting, you might ask? Simply put, it extends to making estimations about future customer demand using historical data and other knowledge. Proper demand forecasting gives […]

In 2014, Walgreens had a $1 Billion forecasting blunder that led to the exit of two executives. And in 2001, Nike also had demand planning software implementation failure that led to a $100 million loss in sales. These examples show how compulsory demand forecasting and having the right demand forecasting systems play in the overall advantage of businesses.   Demand forecasting creates an important component of the […]

Supply Chain Management & It’s Important A product system used organizations to get products from consumer and delivering the final product to the customer. A well-organized supply chain management system involves optimizing operations functionality to be fast and efficient.     What is Supply Chain Management? SCM, not a process served to generate cost reduction […]