Does AI close the demand forecasting gap?

Many analysts and industry experts are saying that we are heading into the fourth industrial revolution. One of the biggest drivers of this purported revolution is the availability of unprecedented volumes of data and the development of computer processing power that can leverage big data for the first time in history.

But what does this mean for the supply chain practitioner? One of the areas where Artificial Intelligence (AI) can have the biggest impact is the discipline of demand forecasting. For decades organizations have been attempting to close the gap between what happens in the market and how to gear the supply chain to be prepared for unexpected fluctuations, shifts and changes.

For this paper, a team of supply chain professionals have evaluated a set of traditional and cutting-edge forecasting methods to determine if AI can close the demand forecasting gap.