Forecasting demand & supply feel like a roll of the dice?
Roll of the dice? Coin toss? Best guess? For many of us, forecasting and managing sales/demand planning, supply, production, and sales and operations (S&OP) planning is rife with uncertainty and risk. (And we all know how our brains often shy away from uncertainty and risk.) If only there were a crystal ball to make it easy.
In this webcast, we share the power of using machine learning for estimating uncertainty. How it can be easy for you and your planning team to simulate what could happen on a month-to-month basis – at what probability – so you can bring even greater value to your business without second-guessing your forecast.
Here’s what we explore:
- What’s meant by planning ‘uncertainty’
- The definition of ‘risk’ relative to the planning process
- Common methods for estimating uncertainty
- How (some) software handles complexities that the human mind cannot 5. How supply chain planning software can make your job easier by automating forecast uncertainty estimation and risk-adjusted decision optimization