Cognitive Demand Sensing Helps Build Supply Chain Resiliency
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.