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Forecasting the Future: Lessons from the 2024 Benchmark Study
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In this enlightening episode of Supply Chain Deepdive, hosts Michael Jung and Jess Williams delve into the "2024 Forecasting and Inventory Benchmark Study" by E2Open, which scrutinizes the impacts of the COVID-19 pandemic on global supply chains. The episode examines the challenges faced by traditional forecasting methods during the pandemic's peak, which led to increased errors and diminished returns on planning. The hosts explore innovative solutions highlighted in the study, such as the integration of AI and real-time data, which have proven crucial in enhancing forecasting accuracy and inventory management. Additionally, the discussion covers the success of multi-echelon inventory optimization combined with demand sensing techniques to streamline operations and reduce excess stock. This episode not only reflects on the lessons learned but also casts a forward-looking view on how businesses can fortify their supply chains against future disruptions.
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