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Leveraging digital for demand forecasting helps build supply chain resiliency

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Cognitive Demand Sensing Helps Build Supply Chain Resiliency

 

AI-driven demand forecast helps keep pace with rapid changes in the marketplace

At a time, when the pandemic has upset business plans and calculations, traditional methods of demand forecast have been the weak links in business continuity. Cognitive demand sensing allows machine-driven processing of large volumes of data, both internal and external, to give real-time insights. Real-time visibility is one of the key benefits of demand sensing that builds resiliency in the supply chain through: 

Optimized inventories: Accurate demand forecast helps in projecting optimum inventory levels leading to increased revenue, profitability and working capital.  

Improved product mix: Cognitive methods that map customer sentiment can predict demand at a granular level helping improve the customer experience. 

Informed decision making: Accurate and real-time information enables timely decisions and on-time deliveries improving customer satisfaction, better pricing and brand loyalty.

Sharad Jadhav

Managing Partner, Supply Chain Consulting, TCS

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