In an interview with Conor Doherty, Joannes Vermorel, founder of Lokad, and Pierre Pinson, Chair of Data-centric Design Engineering at Imperial College London, discuss probabilistic forecasting and its applications in various fields. They emphasize the importance of understanding uncertainty in forecasting and the need for ongoing education in the area. All three agree that innovation happens faster than people can embrace it, and they encourage staying updated on new developments in the field and being prepared for the advancements yet to come.
Quantum technology expert Olivier Ezratty discusses with Joannes Vermorel the potential of quantum computing, communication, and sensing. Quantum computing aims to harness quantum phenomena like superposition and entanglement to perform tasks beyond classical computers' capabilities. Quantum communication has applications beyond security, such as the quantum internet and distributed quantum computing. Quantum sensing can measure physical properties with unprecedented precision. Despite progress in the field, there is still a significant gap between theoretical knowledge and practical implementation. The timeline for widespread adoption remains uncertain, with experts estimating 10-15 years before quantum technology reaches its full potential.
Bruno Saraiva, Head of Stock and Space Management at Worten, joins Joannes and Conor in studio to discuss the challenges of retail stock allocation and Worten's collaboration with Lokad. Bruno also shares his experience in the retail industry and the crucial role of supply chain management in customer satisfaction. Saraiva shares his experience working with Lokad, noting that the company's approach has helped Worten make better inventory management decisions while still allowing employees the freedom to challenge and question recommendations. He believes that trust and collaboration between teams are crucial for a successful supply chain management strategy.
In an interview, Peter Cotton, Chief Data Scientist at Intech, and Joannes Vermorel, founder of Lokad, discuss probabilistic forecasting, the M6 forecasting competition, and the differences between finance and supply chain perspectives on volatility and uncertainty. They emphasize that perfect forecasts are impossible and probabilistic forecasting can help make better decisions amid volatility. Both agree on the value of simplicity and robustness in handling complex systems, whether financial markets or supply chains. They also discuss issues like P-hacking, transparency in prediction model errors, and market mechanisms for improving predictions. Vermorel highlights the cultural challenges in supply chain management, while Cotton emphasizes the importance of markets in improving overall forecasting.
The meaning, role, and value of probabilistic forecasting are often viewed as mysterious and impossible to grasp without a degree in data science. On the contrary, probabilistic forecasting is rather intuitive, as we discussed with our guest, Sim Taylor.
Resilience is very much this decade’s supply chain cause célèbre (and with good reason). The intrusion of constant shocks - and the inevitable firefighting that follows - has tested the resilience (and exposed the fragility) of supply chains across the globe.
Histories of the Future Milestones in the Last 100 Years of Business Forecasting, by Jonathon Karelse, charts the fascinating development of business forecasting tools, techniques and innovations over the last century.
A mainstay of supply chain tutorials since the 1960s, The Beer Game has taught students how to visualise the oftentimes tricky coordination of upstream and downstream supply chain processes.
How do the principles of supply chain forecasting apply to a business dealing with perishable stock? Are there unique supply chain challenges for companies in this space? What additional layers of complexity and randomness must this sector contend with when forecasting stock levels?
Christian SCHUH is a Managing Director and Senior Partner at Boston Consulting Group. With his 27-year career in procurement consulting for the automotive, engineering and defense industries, he believes that the most important factor in the success of a business now and in the future is the close relationship between a company and its suppliers.
In this episode, we are honored to welcome Bram Desmet, professor, keynote speaker and founder of the Strategy-Driven Supply Chain Institute to discuss the profound link between supply chain and a company’s strategy.
In this episode we are discussing paradigms that are now emerging for optimization and learning in Supply Chain, and we are joined by Prof. David Simchi-Levi,author of over 300 publications, in which a common topic is algorithmic paradigms for supply chain.