A digital technology platform for supply chain: Development of scenario planning and forecasting models and tool for the engine build program to assess the impact of variations in sales forecast on inventory planning
Industry 4.0 is the digitization of a companys physical assets and the companys integration into digital ecosystems with its value chain partners, from suppliers to customers. It uses smart technology and the use of real-time data to increase flexibility, customization, efficiency and productivity, and to reduce time, costs and innovation cycles. This project will focus on adapting novel concepts to an enterprise to meet these challenges, with an emphasis on smart processes as a means to achieve the transition to Industry 4.0. This research aims to provide new light and help our partner industry to generate different problems in their supply chain by developing scenario planning and forecasting (Sales & Operations Review Board (SORB)) approaches and tool for inventory management to optimize the working capital and increase response to customer demand. This project will allow partner to identify and implement a tool that consolidates data and achieve visibility across the supply chain to support supply chain improvement and growth, highlighting exposure to inventory liabilities and increasing transparency between supply chain partners.