Will Quick Response Forecasting (QRF) Answer Supply Chain Challenges?

Quick Response Forecasting is a forecasting process that can incorporate information quickly enough to act upon by agile supply chains. The challenge most companies are experiencing is the length of time it takes for the demand forecasting process to incorporate rapid changes or short-term spikes in demand. Many supply chains are still too sluggish, and not agile enough to take full advantage of demand forecasts that include short-term spikes. Forecasting at the edge for real-time demand execution using event stream processing (ESP) combined with machine learning (ML) to analyze demand as it is generated at the store device can eliminate the noise decreasing latency in the decision-making process.