Collaborative Demand Planning leveraging AI, Analytics and Scenario Planning
Posted on: 17th June 2020
Planning Requirements are exploding in the present dynamic market.
- Increasingly customized products and services delivered when and where the customer wants it.
- Volatility and change is no longer an exception, it’s a day-to-day reality.
- Different responses required for increasingly smaller segments.
- Shortening cycle times, requiring workflow automation & the role of the planner to become more strategic.
And the hard reality is that the capability is still under par.
- Rigid planning solutions that hinder agile responsiveness and plan quality levels.
- Efficient forecasting requires continuous monitoring and modification of forecast models to adjust for changes in demand patterns, product lifecycle etc.
- Plan improvements suffer from a lack of data insight & inability to process data at a granular level.
- Traditional forecasting techniques cannot account for external factors affecting demand.
Organizations are struggling to attract, retain and nurture combination of statistical and supply chain solutions required for forecasting and collaborative demand planning.
Managing the planning function in a digital age comes with its own set of challenge and digital technology is rendering traditional supply chain planning models obsolete.
The new challenge for supply chain leaders, then, is planning for the new futures and adapting to these at the same time, with speed, flexibility, and agility.
Collaborative Demand Planning enabled by advanced analytics and artificial intelligence significantly improves the planning performance in terms of quality and speed.
Analytics: Advanced analytics in demand forecasting combined with machine learning, e.g. for algorithm selection and finetuning can significantly improve quality and reduce the manual forecast efforts
Artificial Intelligence: Business rules, standard workflow and alert protocols in planning are learned & performed by machines using programmed & pre-defined instructions / logic
Scenario Planning and Optimizer: Planning scenarios can be created and evaluated allowing the planner to focus on decision making. In addition, optimization, e.g. of value chains / production chains enable the planer to find the best solution in constraint situations.
Untap the value of Collaborative Demand Planning with our AttributeX Demand Planner
- An integrated, end-to-end platform for the automation of the issue to outcome process
- Automated ensemble model evaluation to identify the demand patterns.
- Efficient forecasting with comparison of different machine learning techniques to select the optimum method
- Unleash the power of big data and real time analytics
- Self-automated feature selection modeling using non-linearity