The importance of demand forecasting has been topic of discussion in economics and some valuable books have been written on it over the years. However, within the supply chain context there are three types of forecasting, which are:

Demand forecasting: This is the inves...

Forecasting is an imperfect science, but it is also a necessity for most businesses. That's particularly true when it comes to supply chain management. Proper forecasting helps ensure you have enough supply on hand to satisfy demand. Business analysts use supply chain...

Many people who work in supply chains are familiar with the old saying, “The forecast is always wrong.”

It’s almost always true, of course. But it doesn’t mean that it’s not important or it can’t be improved. It also doesn’t mean the cost for accuracy improvement is hig...

An inventory is a warehouse or storage location where a business maintains stocks of its products so that it can ensure swift delivery of those products on the order. With the ever increasing demand in products, more and more management practices have evolved to ease t...

A key characteristic of companies that have been successful during the last decade is a relentless search for solutions that help to reduce costs, increase effectiveness, and meet customer needs. This drive to improve has often resulted in significant competitive advan...

Warehousing and warehouse management are part of a logistics management system, which is itself a component in supply chain management. Although viewed by some as simply a place to store finished goods, inbound functions that prepare items for storage and outbound func...

As transportation costs, congestion, and capacity threaten to derail global supply chains, bulk freight shippers are collaborating with their logistics partners to streamline plant operations and rethink how they align stateside distribution networks to better match su...

33 Corporations Working On Autonomous Vehicles

Google and Tesla might be the biggest names chasing self-driving cars, but a host of auto brands and other tech heavyweights are also investing heavily in driverless R&D.

Uber Self-Driving Truck Packed With Budweiser Makes F...

Analytics has traditionally helped companies achieve improvements in all areas of their business. Today, the boundaries of analytics are being thrust forward by the application of Data Science and Artificial Intelligence. Deep Learning and other algorithmic methods are...

Almost every industry has some form of seasonal demand. Weather, holidays, special events, and even the time of year like back-to school or fiscal year-end– all contribute to short-term spikes in demand. Sure turkey and ham producers must deal with demand increases dur...