IBF on Demand Episode 9 (28.6.20)

Sponsored by Arkieva, your one plan S&OP software. Learn more about Arkieva's approach to demand planning here: https://arkieva.com/software/demand-planning/

Learn about IBF 's world-leading consulting services to build or transform demand planning here: https://bit.ly/3d58dMT

Data Scientists Suck At Demand Planning! Or do they? Can they learn the required skills? Conversely, can demand planners learn new data science skills? I interview author of 'Data Science For Supply Chain Forecast', Nicholas Vandeput, and examine the differences and similarities between data scientists and demand planners, and how we need to learn from each other.

02:12 Forecast accuracy by university degree
04:30 Data scientists make horrible demand planners
06:16 Mindset of data scientists
07:35 Experimenting in data science
12:55 Differences between data scientist and demand planning roles
14:04 Will data scientists do the modeling then hand over to a demand planner?
16:45 Should we get data scientists into demand planning, or do we keep them as separate roles?
17:00 Human judgement, collaboration and data science
20:10 Will data science be part of supply chain or will demand planning be a data science function?
20:25 The value if an independent analytics function
25:48 The importance of knowing new models and techniques 
29:13 Demand planners need to adapt
34:50 IBF maturity assessments to establish forecasting and analytics functions
35:19 The ultimate goal of a centralized planning and data scientist function 

Find out more about IBF at www.ibf.org and www.demand-planning.com
Find out about Arkieva at www.arkieva.com

Support the show

To sign up for regular updates and the latest research, events, articles, podcasts and more from the Institute of Business Forecasting & Training, visit www.ibf.org