Sourcing and Supply Chain

With modernization in lifestyle and evolution of technology, its acceptance in day to day life and business has increased never before. If Artificial Intelligence (AI) and Internet of Things (IoT) are buzzwords of last decade, then the upcoming decade is of “Blockchain Technology” for sure. It is a revolutionary technology which is operating most popular cryptocurrency namely “Bitcoin” – It is the first successful application of Blockchain came into existence in the year of 2009 by Satoshi Nakamoto. The Economist described the Blockchain as the most important advancement in recordkeeping since the inception of the double-entry bookkeeping system in 1494. Blockchain is a data structure that holds the transaction records with security, transparency and decentralization. It is a chain of immutable blocks and not controlled by a single authority. It is an append-only and distributed ledger technology that is operated by a peer-to-peer network mechanism that records and validates d...

DEMAND FORECASTING – AN ART TO SEE FUTURE OF BUSINESS “To see the future” is mankind’s old wish and ambition to become more powerful and take correct decisions in present time to make future bright. It is equally applicable for business decisions, wherein all top executives want to forecast the demand accurately and practically to align their activities in such a manner, so businesses can cater maximum possible demand of customers and increase revenue by reducing inventories. It is most important to know future demand as it is the foundation stone for business planning. Under “Demand Management Trilogy”, I have already published the first article on “Demand Planning” wherein you can understand it very comprehensively. In this raw, I am publishing the second article on “Demand Forecasting” which is a buzz word in Sales and Marketing industry and give insights to top-management for all important business decision making which helps the business to meet future customer dema...