In Coronavirus times there are growing concerns about the relevance of past data and the effectiveness of forecasting capabilities. Given the fact that these times are unprecedented, relying solely on historical data or short-term demand fluctuations, results in distorting planners forecasting ability. The solution to this increasing level of uncertainty is robust scenario analysis. EyeOn Managed Services Team helped our customer from Chemical Industry with creating different demand scenarios. By combining customer’s business input, EyeOn succeeded to map the effect of potential demand changes on safety stock levels and interpreted inventory performance. Offering thus to our customer, a roadmap of how inventory should be managed according to each demand scenario.
The urgency for shift and agile responses is evident, however towards which direction? This is exactly where EyeOn Forecast Services can make an impact; for more information. See also our website www.forecastservices.com or contact our colleague Bohdana Shumanska.