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Mathematical Optimization: Supply Chain Management by the Numbers

Supply Chain Brain

Bowman, SupplyChainBrain Supply chains consist of imperfect humans struggling to make perfect decisions. That, at least, is the theory behind mathematical optimization, and the way it’s being applied to supply chain management today. In the end, though, it all comes down to a game of numbers.

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Weather-Influenced Demand Forecasting in 2020: 6 Key Observations

Solvoyo

NOAA, the National Oceanic and Atmospheric Administration in the US, reports that the five-day weather forecasts are approximately 90% accurate, 80% for the next seven-days, establishing an acceptable level of accuracy for this crucial external input for supply chain planning, especially short-term demand forecasting.