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com
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(https://ibf.org/knowledge/jbf-articles/three-steps-to-ai-powered-outside-in-demand-
modeling-in-the-face-of-unprecedented-disruption-1283)
Since 2011, I’ve been teaching Supply Chain Risk Management at Lehigh University.
Developing a new MBA class in Supply Chain Risk for our supply chain MBA students gave us
the opportunity to explore the landscape of Supply Chain disruptions and the statistical tools
and techniques in the areas of Predictive Analytics
(https://ibf.org/knowledge/glossary/predictive-analytics-214) and Big Data
(https://ibf.org/knowledge/glossary/big-data-38) that are improving supply chain
performance. Let’s start with the data landscape as of today, and chat about a few use cases
where Big Data (https://ibf.org/knowledge/glossary/big-data-38) has real,
practical applications.
More than 90% of all data that exists in the world today was created just 2 years ago!
We’re in an age where more than 2.5 quintillion bytes of data are created EVERY DAY!
That’s more data than all the data in all the libraries in the USA
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5/5/2020 Predictive Analytics Real Life Use Cases | Demand-Planning.com
Lowe’s Robot
Starting in 2016, Lowe’s began to utilize autonomous retail robots to help both customers and
store sta . It helps customers nd products while it helps sta by scanning items and identifying
price discrepancies. More interestingly for us, however, is that it tracks inventory. It knows what is
being sold and where, all in real-time. That provides great visibility into demand and supply,
enabling its supply chain to react faster. The robot is bilingual and driven by Predictive Analytics
(https://ibf.org/knowledge/glossary/predictive-analytics-214) – and could soon be replicated in
a variety of retail environments.
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Their weather predictions coupled with pattern recognition tools are providing forecasts months
in advance, which are then integrated with retail companies’ supply chain data. Armed with this
information, companies can arrange resources accordingly, with Demand Planners able to make
more accurate demand plans, and Sales and Marketing able to promote certain items and price
accordingly (Figure 1).
FIGURE 1
Walmart
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Anecdotally, we know (broadly) how weather will impact spending behavior for di erent
industries, but never before have we have had this volume of data to support ndings, this ability
to reveal cause and e ect, this ability to remove bias, nor this ability to automate the process and
integrate into supply chain systems.
B I G D A T A ( H T T P S : // D E M A N D - P L A N N I N G . C O M / T A G / B I G - D A T A / )
P R E D I C T I V E A N A L Y T I C S ( H T T P S : // D E M A N D - P L A N N I N G . C O M / T A G / P R E D I C T I V E - A N A L Y T I C S / )
W A T S O N ( H T T P S : // D E M A N D - P L A N N I N G . C O M / T A G / W A T S O N / )
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planning.com&utm_medium=blog%20banner&utm_campaign=ONLINE_SPRING_2020)
DEMAND-PLANNING-JOBS/)
Greg has over 25 years' experience with several Fortune 100 companies across multiple
industries. He has held executive positions in systems, sta and plant operations
environments and has been Supply Chain Director, Materials Director, Logistics Manager,
Plant Operations Manager, CIO and Systems Director with companies such as Hercules
Chemical, Sandvik Specialty Steel, International Harvester, Schlumberger, Loral Aerospace
& Defense Electronics, GAF/ISP Specialty Chemicals and IBM Supply Chain Solutions. Greg
has also been an Executive Consultant for IBF and is currently Adjunct Professor of
Enterprise Risk Management at Villanova University.
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