Improving Demand Forecast Accuracy in Supply Chains

This document is a guide that discusses the critical issue of demand forecast accuracy within supply chains across various industries. It outlines how advancements in Internet of Things (IoT) technology, serialization, and the establishment of a digital supply network can significantly enhance demand forecast accuracy. The text highlights research findings indicating that improving demand forecast accuracy can lead to a twofold increase in on-time and in-full perfect orders. It emphasizes the importance of visibility in demand through analytics and the sharing of patient data, which can optimize the entire product supply system. The guide also details how collaboration among connected partners within a digital network can ensure the availability of the right inventory for patient outcomes at the appropriate time and location.