Rod Daugherty
Rod Daugherty is the Vice President of Product Strategy for Blue Ridge, where he oversees product direction. For the last 21 years, Rod has been a consultant, designer and product executive for multiple supply chain software companies including E3, JDA, Evant and Manhattan Associates.
While the terms “machine learning” and “artificial intelligence” are often used interchangeably, the main takeaway is that these advanced technologies offer better ways to solve complex planning problems. More organizations are recognizing their benefits to improve inventory forecasting accuracy and optimize stock replenishment.
Meeting the challenge of inventory planning and forecasting revolves around the ability to process and manage continuous data uptake. The solution today and in the future is all about processing speed and power, and the ability to see patterns as they appear.
To compete and succeed today, think of supply chain planning as significantly more than replenishment. One critical area is collaborative demand planning with your supplier partners. Here are some steps you can take to create and sustain a collaborative process that is mutually beneficial.
Big data analysis has revolutionized the understanding of customer demand, providing visibility and precision for inventory planning on a whole new level. Now you can not only better understand what influences buying behavior but begin predicting what and when customers will buy with unprecedented accuracy.