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Dramatic supply and demand shifts during the pandemic prioritized the need for data accuracy to solve short and long term supplychain challenges. Data builds the bridge between your own internal supplychainvisibility and the information you provide to your stakeholders.
It could be bad forecasting, poor order management tracking, failure to deal with supplier issues, inaccurate parameters, or lack of supplychainvisibility. Customers would want us to store more finished goods, increase safety stocks, and hold extra component inventory. That was my first clue. Conclusion.
Enterprises have started looking at technological innovations to simplify the last mile, investing in machine learning (ML) and artificial intelligence (AI) to automate processes such as scheduling and routing, improving supplychainvisibility and reducing costs overall. Click here!
However, before proceeding to those stages, one should know the product’s life Cycle. The life Cycle is a series of stages a product goes through from its inception to its eventual demise. However, the entire concept of demand revolves around the growth of the product life cycle.
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