100% Forecasting Error Reduction and Up to $300M Saving Potential for a Global High ...

Summary

The article discusses a company’s implementation of the 'Digital Twin' technology to enhance demand forecasting within supply chain management, leveraging advanced analytics to overcome historical challenges of forecast errors and volatile demand. The 'C3 AI Demand Forecasting' solution significantly improved forecast accuracy, benefiting from granular data integration, machine learning, and user-friendly interfaces for operational staff. This innovation facilitated substantial cost savings and inventory optimization while addressing issues with statistical forecasting, consensus forecast, and technology forecasting in supply chain analytics.