@Gerry - Another great article.I would just like to add that demand-sensing can complement demand planning by going beyond the traditional approach of forecasting based on just historical sales data.The field of analytics and specifically predictive analytics is constantly improving and innovating, especially in important areas as the supply chain network.New and better pattern recognition and mathematical algorithms are being developed to interpret a wide array of varying demand signals that can help retailers and manufacturers gain more accurate near real-time insights into important activities.These demand signals can include what products are selling well and which ones aren't, what products are popular at which retailer, where products should be located at the retailer, etc.
In demand-sensing, volumes of data from manufacturers, retailers, suppliers, etc., are analyzed all to help companies better determine what customers will order and automatically crunching all these demand signals and volumes of data to basically provide daily forecasts.The sense-and-response approach you mentioned utilized by Coca-Cola is a great example.Demand-sensing can definitely be a competitive advantage on how companies manage their supply chains, and I expect we will be hearing much more about this methodology in the years to come.
Great question. Given our role in the electronics equipment supply chain, where we need to be agnostic when it comes to electronic interfaces and out 100K customer base, we are uniquely qualified to manage both command and control and sense and respond supply chains.
The core values that customers depend on distribution for don't change in this model. The just make us better to respond to customer wants.
EBN Dialogue enables and encourages you to participate in live chats with notable leaders and luminaries. Not only editors and journalists, but the entire EBN community is able to comment and ask questions. Listed below are upcoming and archived chats.
Thailand Stages a Comeback Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
Microsoft Surface: Potential Winners & Losers What are the implications for the electronics industry supply chain of Microsoft Corp.'s decision to launch its own tablet PC? Join industry veteran and EE Times' systems and OEM expert Rick Merritt on Tuesday, July 3, at 12:00 pm EDT for a Live Chat on this subject.
Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
Peter Drucker famously said "Trying to predict the future is like trying to drive down a country road at night with no lights while looking out the back window." Yet in the razor's-edge world of electronics—with a lean supply chain and just-in-time demands—the need to know the future is vital.
While no one really can accurately predict the future, we can take guidance from another Drucker saying which is the best way to predict the future is to create it.
You've heard the saying "the No. 1 supply chain risk is your people." That hasn't always been the case. But today's complex global supply chain requires a new type of multitalented employee. It's one who understands, finance, marketing, economics, is savvy with technology, graceful with relationships and can think analytically.
Where are these people? Are universities properly preparing the next generation supply chain professionals? How do train your existing workforce for these new, demanding positions?
Brian Fuller, editor-in-chief of EBN, will lead a 60-minute Avnet Velocity panel discussion that will ask and answer these and other questions swirling around today's supply-chain talent challenges.