“Companies that have thrived as a result of increased COVID-related demand have faced raw material and capacity bottlenecks.”
Those who witnessed a drop in sales had to cut expenses immediately, and many had to make significant adjustments to their product ranges.
As a result, organizations in both camps urgently want a Sales & Operations Planning (S&OP) or an Integrated Business Planning (IBP) process to be able to make those up or down planning decisions with an awareness of the profitability implications.”
“Some businesses have benefited greatly from COVID-19, while others have come to a halt. In any event, the repercussions of coronavirus have been felt by almost every firm, emphasising the significance of a continual planning process.”
Artificial intelligence and demand forecasting as a service will accelerate transformation.
The epidemic has demonstrated that businesses must learn to deal with uncertainty as part of their normal operations. They must immediately adapt, possibly even going so far as to serve new markets with different products.
“Many clients have data on hand to take advantage of the newest advances in machine learning as applied to demand planning, but they lack data scientists who understand how to turn that data into meaningful information for the demand planning process.”
However, we can go beyond advising and offer our customers full managed analytics services, allowing them to access and use knowledge more quickly.”
Companies are increasingly questioning whether they should retain everything in-house, which is understandable.
For example, data scientists are pricey and in short supply. Companies right now require that skill as part of their planning process.
It’s more convenient and cost-effective to buy it as a service and take advantage of the most recent advances in demand forecasting. “We use cutting-edge planning software with built-in artificial intelligence.
In a world where standard statistical forecasting no longer works, you need that.”