10 things eft’s been reading this week
Looking into the crystal ball isn’t easy but it is increasingly critical
H&M has reported that a flaw in its logistics management system has cost it tens of millions dollars and left it with heaps of unused inventory as they failed to effectively predict the market and what was needed where (see our first story). Meanwhile, 48% of retail supply chain professionals rate their forecasting technology as average to very poor. This demonstrates that superior forecasting needs to be a core focus for the shipping industry. However, nobody is saying that this is going to be easy, so this week we take a look at how companies are approaching the tricky business of divining the future.
See Now, Buy Now: Extending the Retail Supply Chain from Concept to Consumer. [Supply & Demand Chain Executive]
Using IoT to Move From Push to Pull. [Inbound Logistics]
Weathering the Supply Chain Storm. [Supply & Demand Chain Executive]
If you want to use machine learning and forecasting more effectively, then attend the AI session with IBM at the 3PL & Supply Chain Summit: Europe this 29-31st October, 2018.