Forbes July 25, 2024
By Torsten Pilz, Senior Vice President and Chief Supply Chain Officer, Honeywell
For decades, the various components of the supply chain have ebbed and flowed as new technologies and innovations have come into play. No matter what the supply chain looks like, its goal is simple: to satisfy customer demand. The companies that can do this the best will win out, but what’s the secret? How do you make the right decisions early in the supply chain? And how do you plan to satisfy customer demand before you even know what specifically that demand will be for?
Consider the example of ordering a new pair of shoes online. Historically, planning and forecasting functions within a company would need to rely...
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