AI Is Revolutionizing Demand Forecasting
Demand forecasting is at the very core of operations management.
In simple terms, a forecast is a projection or prediction about some future point in time based on underlying assumptions. Demand forecasts—what we project customers will want—range from short-term (operational) to long-term (strategic) and help organizations plan for variables such as production capacity, labor, raw materials, packaging, and transportation needs.
The question isn’t whether demand planning is important or essential. The question, rather, is how to have more accurate forecasts so that […]