To best manage change and adapt to today’s environment, it helps to have a plan. These actionable insights are unbiased and generate highly accurate forecasts to help managers and planning professionals make more informed decisions in times of disruption and change. By leveraging near real-time data and insights gained through advanced, cloud-based analytics, this data can uncover trends that human planning may not have detected. Today, traditional insights can be added to intuitive software like Plex DemandCaster’s Demand and Supply Planning platform. But with the speed of change occurring, these objective trends are beholden to human bias and are easily misread. These include sales surveys and sales staff opinions, market analysis, print and trade journals, etc. In the past, trend analysis has consisted of many subjective inputs, many of which are still relevant today. This means understanding both “what” the trend is indicating and the “when,” including both the frequency and velocity at which it’s occurring. One critical aspect of managing change within your industry is identifying its driving trends. But what is the best strategy? How do you know which model or combination of models is best suited for these times? And can your supply chain adapt to the changes ahead? Identifying Trends in Your Business
Demand and supply planning must adapt to be agile, flexible, transparent, and rely on data and software to navigate the new normal. To combat this new reality, supply chain professionals are realizing that any new models for planning and forecasting must include the assumption of disruption. Gone are the days of stable and predictable supply chains that allow companies to adopt long-term lean and JIT replenishment to manage costs.
Massive disruptions have been impacting businesses for the past several years.
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