One of the biggest challenges presented by the pandemic has been the unpredictability of consumer behavior. In the wake of lockdown regulations and social distancing measures, consumer preferences have shifted, and traditional demand forecasting methods have become obsolete. For example, the sudden surge in demand for home office equipment and online delivery services has caught many businesses off guard.
Another challenge has been the disruption of global supply chains. Many businesses rely on goods and materials from other countries, and the pandemic has caused delays and disruptions in these supply chains. This has led to stockouts, increased costs, and other issues that have made it difficult for businesses to meet customer demand.
Despite these challenges, there is hope. Advanced software technology has the potential to revolutionize demand and supply chain planning, helping businesses navigate the challenges of the Covid-19 pandemic.
Advanced software technology can help through real-time data analysis, machine learning, predictive analytics, supply chain visibility and collaboration. It has the potential to revolutionize the way businesses plan for and respond to changes in consumer behavior and supply chain disruptions and ultimately helps to boost business performance.
In collaboration with Haidi.io, we have developed this helpful checklist to support you in optimising your demand planning and forecasting processes.