Predicting Demand with AI and Microsoft Dynamics 365 SCM

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AI (Artificial Intelligence) is really coming into its own as manufacturers work hard to remain viable in a competitive and increasingly complex marketplace. AI and Microsoft Dynamics 365 can benefit your entire supply chain. One valuable way is by predicting demand. When you can have the resources you need available when and where you need them,  you can deliver your products quickly and efficiently. Flawless delivery is one factor that contributes to customer loyalty and ensures the success of your business.

With Microsoft Dynamics 365 for Supply Chain Management (SCM), your team can use data analytics and logistics to plan supply and production.  Meet your market’s demand by leveraging real-time predictive analytics to maximize efficiency and control costs. Let’s see how using AI with Microsoft Dynamics 365 can help your organization predict demand.

Forecasting demand

Forecasting or predicting demand takes more than a crystal ball and wishful thinking. Rather, successful forecasting depends on having relevant, real-time data at your fingertips.  Microsoft Dynamics 365 for Supply Chain Management has your data from sales orders, historical transactions, customer profiles, and other information housed in your ERP system. With Dynamics 365 SCM, you can visualize forecasts, adjust predictions, and view key performance indicators (KPIs) that support forecast accuracy.

Some key aspects of demand forecasting:

  • Use historical data to create a statistical baseline forecast
  • Use a dynamic set of forecast dimensions.
  • Consider demand trends, confidence intervals, and forecast adjustments.
  • Use the adjusted prediction in planning processes.
  • Eliminate outliers.
  • Generate rules to measure prediction accuracy.

Set your goals

Goals can help your team support your organization’s daily operations, be open to adjustments in your master plan, and achieve measurable progress.

Review various master plans and examine new policies, such as one about internal performance or one addressing customer satisfaction. There are two types of plans: static and dynamic. A static plan is a master planning calculation that uses current data to generate a net requirements agenda. A dynamic plan updates every time the master data changes. Companies can choose whether to work with either just a dynamics plan or both a dynamics and static plan.

Next Steps   

If you would like to know more about Microsoft Dynamics 365 for Finance and Supply Chain Management and how it can benefit your organization, contact our experts at Logan Consulting.

By Logan Consulting, www.loganconsulting.com

 

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