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2 July 2024, Los Altos, CA: Firstshift is proud to announce they have earned a place among the Hatcher+ Top 100 Global Startups for June 2024 - the world’s first-ranked list of startups based on an unbiased, AI-powered, global scoring system for startups. 

“We are thrilled to be honored as one of the Top 100 Global Startups by the team at Hatcher+,” says Firstshift CEO, Hari Menon. “Our team has created an AI-powered supply chain management platform that leverages the latest technology in generative AI and machine learning. It is only fitting to have been selected by a similar approach using an AI-powered scoring system.” 

The Hatcher+ Top 100 scoring system uses a proprietary model based on data from over half a million startups and multiple investment rounds to evaluate startups. Each component of the model assesses a different aspect of a startup’s sector, technology fit, market position, and future potential, providing a numerical score between 400 and 900, with an average score around 650 indicating an average likelihood of success.  The system is language agnostic and specifically designed to reduce biases based on age, location, race, religion, and sector.

"Unlike traditional startup rankings, companies included in the Hatcher+ Top 100 undergo a thorough and independent evaluation process, reflected in their Hatcher+ Score, using a complex algorithm that we have tried to make as unbiased and relevant as possible,” says John Sharp, Managing Partner of Hatcher+. “It is our hope that this approach will help founders and their companies refine their strategic vision, grow awareness, and raise the capital they deserve."

The 100 winning startups were announced at midnight Singapore time on June 30, 2024, and their names have been published on the Hatcher+ website at https://hatcher.com/founders and on the Hatcher+ LinkedIn page.

For media enquiries, journalists should contact:

Hari Menon, CEO, Firstshift, hmenon@firstshift.ai 

 Hans Yong, Head of Marketing, Hatcher+, hans@hatcher.com

About Firstshift

Firstshift is an innovative provider of AI-powered supply chain planning software that offers advanced supply chain planning capabilities to companies in Consumer Goods and industrial verticals, including Food & Beverages, OTC Pharma, Apparel & Footwear, and others.  The company was founded by veteran supply chain software entrepreneurs and executives motivated by the strong belief that AI will play a transformative role in the supply chains of all enterprises. Firstshift’s cloud-native software platform leverages the latest in AI innovations, including deep learning and generative AI. For more information visit www.firstshift.ai. 

About Hatcher Plus Pte Ltd (“Hatcher+”) 

Hatcher+ is a leading venture capital firm specializing in the development of advanced software and AI-based data models to support fast fund creation, AI-powered deal analysis, and intelligent capital deployment. The Hatcher+ FAAST™ platform offers comprehensive solutions for fund administration, enabling efficient portfolio construction and real-time financial data visualization. FAAST™ Founder extends these capabilities to startups, providing tools such as AI-powered Executive Summary and Pitch Deck Analysis, a secure data room, cap table management, and investor CRM. These features ensure impactful and scalable investment strategies, empowering both investors and founders to achieve their business goals with confidence.

The world of supply chain management is complex and challenging for many businesses. Accurate demand planning is paramount to success. One of the key elements in achieving this is better forecast accuracy. With the right strategies and technologies, businesses can optimize inventory levels, reduce costs, and meet customer demands more effectively. Let’s explore the importance of forecast accuracy in demand planning, the benefits it brings, and how to achieve it using advanced analytics and real-time data integration, with a special focus on AI and machine learning (ML) capabilities.

The Importance of Forecast Accuracy in Demand Planning

Forecast accuracy is the cornerstone of effective demand planning. It involves predicting future demand for products with a high degree of precision. When forecasts are accurate, businesses can ensure they have the right amount of inventory at the right time, minimizing stockouts and overstock situations. This not only improves customer satisfaction but also optimizes inventory carrying costs and enhances overall operational efficiency.

Benefits of Improved Forecast Accuracy

When you accurately forecast, your business flourishes for several reasons.

• Optimized Inventory Levels: With accurate forecasts, businesses can maintain optimal inventory levels. This means having enough stock to meet demand without wasting capital on inventory.
• Cost Reduction: Accurate forecasts help reduce various costs associated with excess inventory, such as storage, insurance, and obsolescence costs. It also minimizes the cost of stockouts, which can lead to lost sales and dissatisfied customers.
• Enhanced Customer Satisfaction: Meeting customer demand consistently and promptly enhances customer satisfaction and loyalty. Accurate forecasting ensures that products are available when customers need them, improving their overall experience.
• Efficient Supply Chain Operations: Improved forecast accuracy leads to more efficient supply chain operations. It enables better coordination with suppliers, reduces lead times, and improves production planning.
• Better Financial Planning: Accurate forecasts provide a solid foundation for financial planning and budgeting. It allows businesses to allocate resources more effectively and make informed decisions.

Achieving High Forecast Accuracy with AI and ML

To achieve high forecast accuracy, businesses have traditionally relied on statistical forecasting techniques where a forecasting expert selects a particular algorithm based on his or her hypothesis around the demand pattern and tests out the hypothesis. An exhaustive trial and error approach is used to arrive at a decision to use a particular algorithm - an algorithm that produces the least error! This works reasonably well when you have a small number of SKUs and demand patterns for those SKUs don’t change significantly over time. However this approach is highly infeasible as the number of SKUs, Customers, Locations, etc. get larger and the demand pattern changes over time. What is needed is an “autonomous forecasting” capability!

Utilize AI-Powered forecasting algorithms and algorithm selection

A McKinsey study highlights that AI-driven demand planning solutions can significantly reduce forecasting errors by up to 50% and decrease lost sales by 65%​ (McKinsey & Company)​. Firstshift’s AI-powered forecasting automatically selects a “Best Fit” algorithm from a library of forecasting algorithms that include traditional statistical algorithms as well a large set of M/L methods like LSTM, XGBoost and N-Beats. 

Integrate Real-Time Data

Real-time data integration is crucial for accurate demand forecasting. By accessing the latest market trends, consumer behavior, and external factors, businesses can make more informed predictions. Real-time data also helps in adjusting forecasts dynamically in response to changing conditions. 

Incorporate External Data

External data such as economic indicators, weather forecasts, and market trends can significantly impact demand. By incorporating these external factors into forecasting models, businesses can enhance the accuracy of their predictions.

Continuously Monitor and Improve

Forecasting is not a one-time activity. Continuous monitoring and improvement are essential for maintaining high forecast accuracy. Regularly reviewing and updating forecasting models based on actual performance can help identify areas for improvement and refine predictions.

Collaborate Across Departments

Effective demand planning requires collaboration across various departments such as sales, marketing, and supply chain. Sharing information and aligning strategies can improve forecast accuracy and ensure that all stakeholders are on the same page.

Firsthift’s Demand Planning Solution

Improving forecast accuracy is crucial for effective demand planning. Firstshift’s supply chain management platform improves forecast accuracy by utilizing advanced analytics, integrating real-time data, and adopting a collaborative approach. 

Investing in AI-powered technologies and continuously monitoring and refining forecasting models are key to staying ahead in the market. By focusing on forecast accuracy, businesses can navigate the complexities of demand planning and ensure a resilient and efficient supply chain.

Our platform helps businesses reap the benefits of optimized inventory levels, cost reduction, and enhanced customer satisfaction. By implementing these strategies and focusing on AI-powered forecast accuracy, businesses can meet customer expectations and drive growth and profitability. Embrace the power of accurate demand forecasting and take your supply chain management to the next level.

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Supply Chain practitioners rely on a large amount of data and insights to make critical decisions around what, when, where and how much to produce, distribute and store. Traditionally the data and insights are presented to them either in the form of analytics dashboards, However, most often these dashboards and the insights provided by them to answer an adhoc question can help make a critical decision. This is where domain-specific generative AI steps in, revolutionizing the way businesses access and utilize supply chain insights and diagnostics.

Imagine a supply chain planner having at the tip of their fingers, the ability to ask ad hoc questions and get answers to any question that they have of their supply chain - ranging from the “what” and “where” questions to  “how” and “why” questions. This is the capability that domain-specific AI offers.  

Domain-specific generative AI is designed specifically to ensure that the insights and recommendations are not only accurate but also highly relevant. This specificity allows for faster and more effective decision-making,

By democratizing access to sophisticated analytics, you can empower your business to operate more efficiently, reduce costs, and enhance customer satisfaction. The power to transform data into strategic assets provides you with the tools needed to stay ahead in a competitive market.

Ready to explore the future of supply chain management? Firstshift’s platform has created a generative AI platform for supply chain management. Don’t wait for the future – the opportunity is at your fingertips. 

Download our white paper to dive deeper into how our domain-specific generative AI can revolutionize your business operations.

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We are excited to announce an exciting strategic partnership with CGS that will revolutionize the way their clients operate. By joining forces with Firstshift, CGS can now offer their clients a comprehensive solution enriched with cutting-edge AI-powered capabilities.

The collaboration between CGS and Firstshift combines the power of CGS’s BlueCherry suite and extensive expertise in delivering comprehensive supply chain solutions with Firstshift state-of-the-art AI-powered planning platform.

Firstshift offers a cloud native, AI-powered platform that seamlessly integrates with your existing ERP platform, providing a smooth and efficient experience. The platform’s comprehensive planning capabilities cover Demand Forecasting, Inventory and Replenishment, Supply Planning, and Sales and Operations Planning (S&OP). It is designed to provide supply chain leaders with the tools and insights needed to navigate the complexities of today’s market. We understand the unique challenges you face, and we’re here to support your journey.

Ready to make the smart shift? Firstshift is designed to help you harness the latest innovations and infuse new intelligence to accelerate your planning efforts. Schedule a call to learn more about partnering with Firstshift to offer the best, most comprehensive solution to your clients.

Read the release

Now is the time to be thinking about supply chain success in 2024. Optimizing your company’s supply chain to drive maximum efficiency and cost savings over the next few years is no easy feat. Still, the good news is that Firstshift brings technologies and best practices to make it possible to build a supply chain that’s faster, smarter, and more responsive than ever before.

We’ll explore the key innovations to unlock supply chain success in 2024 and beyond. From AI and automation to blockchain and holistic risk management, the tools at your disposal are more powerful than anything we’ve seen before. But technology is only part of the story.

Collaboration, agility, and sustainability will also be essential to building a world-class supply chain. The future is bright if you start planning today. Read on to find out what it will take to achieve supply chain success in 2024.

The Digital Supply Chain Revolution: Automation and AI for Supply Chain Success in 2024

AI will have a huge impact on making supply chains more responsive. We expect 2024 to be the breakout year for leveraging AI in supply chains. As a supply chain leader, you must prepare now to unlock the benefits of AI-enabled supply chain planning.

Automate repetitive tasks

Automate as many repetitive, routine tasks as possible, like tracking shipments, processing orders, and managing inventory. Not only does automation reduce errors, it frees up your resources to focus on strategic work.

AI-driven business intelligence

Though many companies have invested heavily in business intelligence tools, they often find their planners and analysts sifting through data on spreadsheets and looking for the “needle in the haystack”.  AI-driven anomaly detection and alerting as well as AI driven recommendations can help planners focus on supply chain issues that need immediate attention and take corrective action faster.

Collaborate in the digital ecosystem

Your suppliers, logistics providers, and customers are digitally connected in an ecosystem. Ensure your systems are interoperable so you can collaborate seamlessly with other entities in your network. Firstshift seamlessly integrates with major platforms and connects via APIs.

The digital supply chain revolution is here. Take steps now to implement AI and automation in your operations. You’ll be poised for supply chain success in 2024 and beyond with the right technologies and strategies.

Machine Learning and Predictive Analytics Transform Supply Chain Management

Machine learning and predictive analytics are transforming supply chain management. Companies leveraging these technologies gain a competitive advantage with optimized, data-driven supply chains.

Machine Learning Improves Forecasting

Machine learning algorithms analyze huge amounts of data to detect complex patterns and make accurate predictions. Supply chain leaders are using ML to improve demand forecasting, anticipating customer needs more precisely. ML models get smarter over time, continuously improving forecasts.

Predictive Analytics Mitigates Risks

Predictive analytics examines data to determine the likelihood of future outcomes, helping companies mitigate risks. It can pinpoint potential supply chain disruptions and delays, allowing companies to take corrective actions in advance. Leaders are harnessing predictive analytics to reduce waste, cut costs, and build more resilient supply chains.

A More Proactive Approach

With machine learning and predictive analytics, supply chain management is becoming proactive rather than reactive. Companies can foresee challenges and spot opportunities earlier, enabling them to optimize their supply chains in a forward-looking way. In 2024, the most innovative businesses are using these technologies to turn their supply chains into a competitive advantage and driver of growth and profitability.

The future of supply chain success is data-driven and powered by AI. Machine learning and predictive analytics provide the insights companies need to boost efficiency, improve customer satisfaction, and gain a leg up on the competition. Supply chain leaders looking to unlock greater success should leverage these technologies today.

Key Takeaways for Supply Chain Leaders Looking to Future-Proof Their Operations

As a supply chain leader in 2024, several key takeaways will set you up for success:

Adaptability is Essential

The supply chain landscape is constantly evolving. Leaders must stay on the cutting edge of new technologies and strategies to adapt to changes. Keep an open and flexible mindset, ready to pivot as needed.

Data Utilization is Key

Harness the power of data and analytics to gain visibility into your supply chain. Look for trends and insights to optimize processes and address pain points. Data-driven decisions will help future-proof your operations.

Risk Management Matters

Closely monitor risks and have contingency plans in place to minimize disruptions. Natural disasters, geopolitical events, labor shortages, and more can wreak havoc on supply chains. Proactively identify, assess, and mitigate risks to build resiliency.

Sustainability is the Standard

Eco-friendly, sustainable practices are becoming the norm. Choose suppliers and transportation partners with proven sustainable operations. Implement green initiatives like reducing waste and lowering emissions in your operations. Sustainability will be vital for long-term success.

Talent Investment is Worthwhile

Attracting, developing, and retaining top talent is key. Invest in ongoing education and skills training for your teams so they are equipped to navigate the complex supply chain of the future. Competent, forward-thinking employees will drive innovation.

By following these key takeaways, supply chain leaders can future-proof their operations for success in 2024 and beyond. Building an adaptable, data-driven organization focused on risk management, sustainability, and talent investment will put you at the forefront of the industry. The supply chain of the future starts today.

Partner with Firstshift for Success

This is just a glimpse into the future of supply chain management and what it may take to succeed in 2024. The path forward will be challenging, but with the right technology partner like Firstshift, your supply chain can be poised for great things. Start today building the supply chain that will change tomorrow. Schedule a demo to get started!

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The impact that supply chain leaders have on their respective businesses is predicated on the supply chain management systems and especially supply chain planning systems that they have in place. While many have already adopted some tools to support market demands — or at least have plans to — these tools are often cumbersome, disconnected or subsidized with spreadsheets. In fact, according to a 2020 survey conducted by Modern Materials Handling, a staggering 45% of supply chain professionals reported they are using mostly or entirely manual processes. The bad news is, those who continue to rely on manual planning will likely fall behind. But, the good news? Transitioning from spreadsheets to digital planning supported by AI-powered planning solutions is very much within reach.

In this blog, we’ll explore these areas:

• The risks of spreadsheet-based planning
• The benefits of AI-powered planning solutions
• How you can transition to a digital supply chain

The risks of spreadsheet-based supply chain planning

To put it bluntly, using spreadsheets to manage your supply chain is a slow-moving, time-consuming, and error-prone process — especially when compared to digital methods. Take a look at the risks listed below, related to spreadsheet-based planning. You could be familiar with some of them, and others you may not even realize are impacting your business.

• You can open your supply chain up to errors that require remediation efforts
• You spend more time on the tactical aspects of planning than the strategic impact
• You are not able to collaborate cross-functionally to generate consensus plans
• You are not leveraging valuable data that is available to you
• Your (slow) reaction time might be damaging customer experience
• You don’t have reliable performance metrics to rack your progress

To learn more about the risks of spreadsheets, check out our blog, The Hidden Threats of Spreadsheet-Based Supply Chain Planning.

The benefits of AI-powered planning solutions

When you compare digital supply chain planning against more traditional methods, the benefits are clear. Below are just some of the reasons supply chain executives have made the strategic decision to shift to digital solutions. More details about these can be found in our recent AI benefits checklist.

• Increase revenue
• Improve the accuracy of your forecasting
• Leverage important market signals
• Optimize your inventory
• Make better decisions more quickly
• Enhance collaboration across your business
• Create a better customer experience

All of these advantages add up to better outcomes and greater confidence, not just for your supply chain but for your business as a whole. You can dig deeper into these benefits in our recent blog, The Benefits of Shifting from Manual to Digital Supply Chain Planning.  

How can you shift from spreadsheets to digital solutions?

Shifting from manual supply chain planning to the use of digital solutions gives you the power to improve and accelerate your decision-making, unlock profitable growth opportunities, reduce risk, and efficiently scale your business. So, how can you make the shift? We’ve outlined a few steps you can take to begin your transition.

1. Identify your business goals

Think about these as they relate not just to your supply chain, but to every part of your organization. How will meeting your short-term and long-term supply chain goals help to fulfill the goals of your business cross-functionally?

2. Identify your business challenges and opportunities

Perhaps you’re dealing with some or all of the risks of manual supply chain planning that we highlighted earlier, and you’d like to address those head on. Or maybe you anticipate a broader scope of opportunities that could be better served by the enablement of digital solutions. Think about what you can address now, and into the future.

3. Find a AI-powered planning solutions provider that fits your business needs and knows your industry

As you assess your goals, challenges, and opportunities, you’ll need a digital solution partner that can help you develop a strategic roadmap that will address the full vision of your organization and provide industry insights. Look for a partner that offers trusted expertise, flexibility to evolve with your business, and scalability of solutions and support that can empower your growth.

Questions to ask potential supply chain software providers

As you do your research into solution providers that could be the best fit for your business, outside of inquiring about initial and ongoing investment, you might consider asking these questions during your conversations with them.

• How can your solutions address our business challenges and goals?  
• What is the anticipated timeline for onboarding with your solutions?
• What roadblocks or challenges have you experienced in the past for other businesses during implementation? Should we expect the same?
• What can be expected in terms of both initial and ongoing support?
• Do you have case studies to share that are applicable to our business?
• What ROI should we expect and how quickly can we feel the benefits?
• How do we get our team to embrace and adopt the solution?

4. Facilitate alignment across your organization

Once you’ve selected your ideal digital solutions partner, it will then be critical to facilitate collaboration on the decision and next steps across every impacted function of your business. Get every department leader and executive onboard to ensure full alignment in preparation for the initial implementation and ongoing transitions of your digitalization roadmap.  

Meet an AI-powered planning solution ready to accelerate your digital transition.

Among the industry leaders guiding supply chain professionals through their digital journey is Firstshift.ai. Firstshift offers both transformative AI-powered planning solutions and supply chain planning expertise. It’s a powerful combination of services that empower businesses to:

• Ditch the manual, time-consuming, and risk-prone spreadsheets
• Leverage external data to address relevant market signals (and ignore the noise)
• Accelerate the transformation of data into actionable insights
• Leverage predictive analytics to align future performance
• Use prescriptive analytics to automate, wherever possible

To discover if Firstshift is the right partner for your shift to AI-powered planning solutions, schedule your free demo.

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At Firstshift.ai, we’re dedicated to helping businesses unlock the full potential of their supply chains. One of the essential components of modern supply chain management is Demand Sensing. Learn more about how this is critical to supply chain performance and why it’s a game-changer for businesses of all sizes.

What is Demand Sensing?

Demand Sensing is the art of accurately predicting short-term demand by harnessing real-time data and advanced analytics. It empowers businesses to “sense and respond” to changing demand signals, ensuring that their supply chain is agile, efficient, and in tune with market dynamics. It also helps CPG brands capture revenues and margins that they may otherwise be “leaving on the table”.

The Power of Accurate Demand Management

Accurate demand management is at the heart of efficient supply chain management. Here’s why Demand Sensing is a game-changer:

Significantly Improves Forecast Accuracy: Research from the Institute of Business Forecasting (IBF.org) shows that for every 15% improvement in forecast accuracy, there’s a 12% reduction in inventory. Your read that correctly – the benefits are tangible.

Reduces Inventory Costs: With more accurate forecasts, companies can optimize inventory levels. According to IBF.org, a 15% improvement in forecast accuracy can result in a 3% or higher pre-tax net profit improvement.

Enhances Customer Service: Meeting customer demand with precision leads to improved customer satisfaction and loyalty, increasing repeat business and positive brand reputation.

Agile Supply Chain: Adjust production and distribution plans swiftly in response to changing market conditions. This agility is a critical competitive advantage.

Boosts Profitability: By reducing carrying costs, optimizing inventory, and increasing sales, Demand Sensing enhances overall profitability.

Captures incremental revenue: By accurately predicting short term demand, CPG companies can capture incremental revenue from their most profitable channels.

Challenges and Solutions

Demand Sensing does come with its challenges, such as data quality, integration complexities, and resource requirements. Each channel may provide data in different format, frequency and at different levels in the product and location hierarchies. Normalizing the data to allow for algorithmic demand sensing and forecasting is not a trivial endeavor. Firstshift.ai provides a cloud-based, AI-driven solution to overcome these challenges, making it accessible to businesses of all sizes.

Demand Sensing is a critical element for supply chain performance. It not only ensures better inventory management and customer service but also contributes to higher profitability. The time has come for businesses of all sizes to embrace this transformative AI-driven demand sensing technology and unlock your market potential.

Ready to Transform Your Supply Chain?

If you’re ready to make the smart shift to AI-powered Demand Sensing, it’s time to schedule a call with the experts at Firstshift.ai. Let us show you how you can boost your forecast accuracy, optimize your inventory, enhance customer service, and ultimately increase your profitability. Your journey to a more responsive supply chain starts here.

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In today’s rapidly changing business landscape, being a forward-thinking leader in the supply chain industry is more critical than ever. The role of the Chief Supply Chain Officer, Vice President of Supply Chain, or other supply chain leaders has never been more complex, demanding, and pivotal to driving company performance. We understand that your schedules are tight, and your plates are full, yet your challenges persist. So, let’s talk about the advantages of acting now on demand sensing software and how you can empower your supply chain planning team, especially those responsible for demand planning and channel-specific performance.

Why Demand Sensing Software Matters to Supply Chain Leaders

Supply chain leaders understand the immense challenges that the industry faces. The global disruption caused by the COVID-19 pandemic altered the way businesses operate. Historical data and conventional forecasting models can no longer guarantee accurate demand predictions. In addition, consumer behavior has shifted significantly, with a 40% increase in online e-commerce in just one year.

The Benefits of Acting Now

For supply chain leaders, the benefits of investing in Demand Sensing are substantial:

1. Capturing More Revenue: With accurate demand sensing, businesses can meet customer needs with precision, resulting in increased sales and revenue growth. This is not just about profitability; it’s about outperforming competitors in an ever-changing market.

2. Accelerating Inventory Turns: Demand Sensing optimizes inventory levels, reducing carrying costs, and minimizing stockouts. According to IBF, this can lead to a 12% reduction in inventory for every 15% improvement in forecast accuracy. The financial implications are substantial, contributing to a healthier balance sheet.

3. Enhanced Customer Service: Meeting customer demand consistently leads to improved customer satisfaction and loyalty. This positively impacts brand reputation and customer retention. It’s about ensuring your business remains a trusted choice for consumers, leading to a loyal customer base.

4. Boosting Profitability: By reducing carrying costs, optimizing inventory, and increasing sales, Demand Sensing enhances overall profitability. IBF research suggests a 15% improvement in forecast accuracy can deliver a 3% or higher pre-tax net profit improvement. This is a direct impact on the bottom line, enhancing financial health.

5. Capturing incremental revenue: By accurately predicting short term demand, CPG companies cn capture incremental revenue from their most profitable channels.

Results Achieved by Firstshift Customers

But don’t just take our word for it. Our customers have experienced remarkable results:

• Increase Forecast Accuracy by 30%: Firstshift.ai customers have significantly improved their forecast accuracy, allowing for more precise planning and resource allocation.
  
• Increase Sell-Through During Promotions: Leveraging Demand Sensing, our customers have seen increased sell-through rates during promotional periods, maximizing the return on their marketing investments.
• Capture Additional Revenue by as much as 20%: Businesses using our platform have reported capturing additional revenues, a testament to the power of accurate demand sensing.
• Improve Order Fulfillment and On-Time Delivery (OTD) to Amazon DCs: Firstshift.ai has enabled customers to enhance order fulfillment and consistently meet on-time delivery requirements to Amazon Distribution Centers, ensuring a strong partnership with this e-commerce giant.
  
• Decrease Chargebacks by 40%: By reducing inaccuracies and streamlining operations, our customers have seen a substantial reduction in chargebacks, positively impacting their bottom line.

How Firstshift Makes It Easier

Investing in Demand Sensing has never been easier than with Firstshift.ai. Our easy-to-use AI-driven platform is designed to provide supply chain leaders with the tools and insights needed to navigate the complexities of today’s market. We understand the unique challenges you face, and we’re here to support your journey.

Ready to Future-Proof Your Supply Chain?

If you’re a supply chain leader looking to make better decisions, gain greater leverage from your talented team, and quickly address demand variability in a dynamic market, now is the time to make that investment in Demand Sensing. Schedule a call with the experts at Firstshift and let us guide you through the transformative journey of AI-powered Demand Sensing. The future of supply chain management is within your reach, and it’s more critical now than ever.

For years, we have been called to leverage some degree of digital transformation — most often to accelerate visibility, reduce working capital or streamline process changes.  Among business functions that are well-poised to benefit from the digital shift,  supply chain management ranks among the top because of its data intensive nature. As leaders navigate the ongoing complexities of today’s supply chain, many have embraced or have plans to embrace the transformation.

Shifting to a digital supply chain

Shifting from manual supply chain management to digital supply chain planning means ditching outdated, traditional systems like relying on email and spreadsheet-based processes. Research shows that these outdated methods can put the whole supply chain ecosystem in a risky position, leaving you vulnerable to financial and market share risks.

Harnessing a digital supply chain can not only help protect you from those threats, but doing so has benefits that can propel you into a new era of unprecedented growth, opportunity, and insights — driven by speed, impact, and scale. Let’s look at some of the top advantages.

Gain real-time insights and accelerate decision-making

According to a 2021 Gartner survey, 60% of Chief Supply Chain Officers are expected to make faster, more accurate and consistent decisions in real time. To better contend with the volatility of the global market, today’s technology leaders are empowering companies to do just that.

The ability to leverage rich channel data including point of sale (POS) data, channel inventory data and other signals from channels to generate short term inventory and replenishment strategies is going to be a “must have” capability for enterprises of all sizes. AI/ML algorithms that leverage both channel data and other external signals to provide insights and recommendations will play a key role in leading supply chains of the future. Planning at various levels in the product, customer and location hierarchies combined with intelligent postponement strategies are going to separate winners from “also rans”.

Companies that rely on manual spreadsheet-driven processes are limited to their own sales or shipment history. They can only use past performance data to predict future needs and don’t take current market and product portfolio information into consideration. Data latency which is often referred to as ‘stale data’ minimizes the opportunity to mitigate risks or harness new opportunities. Unlike manual management, digital planning tools enable you to optimize your response to market signals and make decisions with greater precision.

Unlock profitable growth opportunities

Shifting to a more digital supply chain can open up a world of opportunities. Where manual processes — like spreadsheet-based planning — hinder forward thinking, accuracy, and agility, AI and machine learning solutions leverage predictive analytics to align future performance and uncover market trends that can evolve into new business insights that lead to greater sales and revenue.

AI solutions also have the power to foster better cross-organization alignment and productivity with built-in collaboration features and automated workflows. With access to real-time market signals, teams can break down silos and collaborate more effectively, strengthening both your supply chain and business as a whole.

Reduce supply chain risk and scale your business

The biggest issue with spreadsheet-based planning and other manual methods is that they’re prone to errors that can mislead supply chain leaders and consequently create plans doomed to fail. On the other end of the spectrum, AI-driven supply chain planning solutions accelerate planning, incorporate external data and drive fresh market insight to delight customers and boost both top line revenue and bottom line profitability.

Make the smart shift from manual processes to digital supply chain solutions

The shift from manual processes to a digital solution in supply chain management represents not just a necessary evolution but a transformative leap into the future of logistics. The time for this transition is now, and those who seize this opportunity will be at the forefront of a new era in supply chain management, poised for sustainable growth and continued success in an increasingly competitive marketplace.

A company of experts on a mission to make those benefits accessible, Firstshift is forging the path for businesses to move ahead successfully with the digital transformation of their supply chain. By offering AI-powered, cloud-based demand planning software and a supply chain planning platform, businesses can bring greater speed, impact, and scale to their supply chain than ever before.

Ditch the spreadsheets and make the smart shift — schedule a demo to learn more.

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In today’s fast-paced and ever-changing supply chain landscape, the bullwhip effect has become an all-too-familiar challenge for supply chain professionals. This phenomenon, which occurs when minor fluctuations in consumer demand lead to significant disruptions upstream in the supply chain, can wreak havoc on inventory management, supplier performance, and overall supply chain efficiency. To address this issue and find the true signal in the noise, it’s time to consider the powerful new solution at our disposal: AI-driven demand and supply planning with demand sensing.

Understanding the Bullwhip Effect

Before we dive into these new strategies, let’s revisit the bullwhip effect. It’s akin to the ripple effect caused by a small pebble dropped into a pond; a minor change in consumer demand can lead to massive ripples of fluctuating orders, inventory surges, and logistical headaches throughout the supply chain.

Recent events have highlighted the bullwhip effect’s damaging impact. Remember the toilet paper shortage at the start of the pandemic? It all began with consumers noticing minor shortages, leading to panic buying and a surge in demand. Manufacturers responded by producing excessive inventory, only for demand to plummet rapidly. This scenario, combined with geopolitical tensions and ever-evolving consumer behaviors, has created a turbulent climate for supply chains.

Leveraging Demand Sensing

Now, let’s explore the innovative strategies that are revolutionizing supply chain planning and mitigating the bullwhip effect.

Real-Time Data Analytics

In the era of big data, advanced analytics tools have become indispensable for supply chain professionals. These solutions harness the power of AI and machine learning to analyze vast streams of data, providing insights into consumer behaviors, market trends, and supply chain performance. With multiple data sources, you can sense demand fluctuations as they happen and respond proactively, minimizing the bullwhip effect.

Reducing Dependency on Historical Sales

Traditional demand forecasting often relies heavily on historical sales data. However, with the current volatile business landscape, historic data may not be a reliable indicator of future trends. AI models leveraging demand sensing take into account short-term consumer behaviors and can adapt quickly to changes in demand, reducing reaction time and minimizing overproduction and overstocking.

Demand Sensing and Forecasting

Demand sensing technologies are changing the game by offering a more accurate and responsive approach to demand forecasting. Innovative AI-driven solutions, like those available from Firstshift, can leverage channel and point of sale (POS) data, weather patterns, social media trends, and even geopolitical events to predict consumer demand with remarkable precision. By incorporating demand sensing into your supply chain strategy, you can reduce the overproduction and deploy available inventory to mitigate the bullwhip effect, boost service and reduce volatility.

Responsive Inventory Management

Static, fixed inventory levels are a recipe for disaster when trying to combat the bullwhip effect. Responsive inventory management systems use algorithms and AI to adjust stock levels based on demand, available working capital and service level goals. The highly responsive systems ensure that inventory is kept at optimal levels, reducing excess and minimizing the bullwhip effect’s impact.

Supply Chain Transparency

Transparency across the entire supply chain is vital. When every link in the chain has visibility into the demand, production, and inventory levels of the others, it becomes easier to manage fluctuations and proactively respond to disruptions.

A New Era of Supply Chain Performance

The bullwhip effect has plagued supply chains for too long, but these new strategies are ushering in a new era of supply chain performance driven by solutions that leverage artificial intelligence (AI) and advance analytics to automate planning activities and accelerate decision-making. If you are ready to harness advanced analytics, demand sensing, responsive inventory management, and greater visibility, schedule a demo with Firstshift. We’ll help you tame the bullwhip effect and create a more agile, efficient, and cost-effective supply chain.

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Over the last few decades, the global supply chains have evolved in extraordinary ways, forcing rapid change in just about every sector. And yet, many companies today are still applying outdated methods to their supply chain planning. According to a 2020 survey conducted by Modern Materials Handling, a staggering 45% of supply chain professionals reported are using mostly or entirely manual processes. At a time when supply chains all over the world were being rocked by the pandemic, it’s hard not to dwell on how digital and automated processes would have helped companies to sense and respond better to swings in market demands, or issues of raw material and product scarcity, shipping delays, and labor shortages.

Having come out on the other side — with lessons freshly learned — 64% of companies say they plan to accelerate their digital transformation as a result. For those still dependent on manual processes, we want to stress the sense of urgency to evolve with the needs of today’s volatile marketplace and the threats hidden within traditional supply chain management systems.

5 Risks Introduced by Manual Supply Chain Planning

Discover some of the biggest threats to supply chain management, posed by manual methods like spreadsheet-based planning.

You’re opening yourself up to errors

Spreadsheets are managed by humans and humans make errors — a lot of them. In fact, according to the Corporate Finance Institute, errors in spreadsheets happen at an estimated rate of 88%. The errors resulting from manual management can create gaps, leave you vulnerable to risks, and limit your scalability.

You spend more time on the tactical aspects of planning than the strategic

When spreadsheets are used as the primary tools for planning, most of a planner’s time is spent on “keeping the numbers right” – i.e., making sure that the numbers add up and they are current leaving very little time for the planner to evaluate scenarios and alternatives. This results in only attending to fewer product categories than you would otherwise like to.

You are not able to collaborate cross-functionally to generate consensus plans

Circulating spreadsheets around to get inputs from functions like sales, marketing or a channel partner is both time consuming and error prone.  Being able to design collaborative workflows and allow multiple parties to provide inputs easily is a “must have” in today’s dynamic supply chain environments.

You are not leveraging valuable data that is available to you

Spreadsheet based planning does not allow you to integrate data that is available from external; sources (channels and third-party data providers) as well as internal sources (ERP, CRM etc.) in a timely manner to support better demand and supply planning. For example, today highly valuable channel level sales and inventory data can be acquired from channels like Amazon, Walmart, and Kroger — use of this data in demand, inventory and supply planning can help enterprises of all sizes to offer higher service levels even while carrying lower inventory.

Your (slow) reaction time might be damaging customer experience

In today’s competitive environment, where any product category can have more than a handful of brands, being out of stock even for a few days could result in loss of market share. Ability to react quickly to demand and supply changes will require more frequent planning runs with the most current data.

The better option? Make the smart shift to AI-powered solutions

Despite their superpowers to predict the ebb and flow of a supply chain, professionals will always be dealing in a world where predictions can be upended at any moment. The best way to contend with the uncertainty is to fortify your supply chain with solutions that can protect you from vulnerability, help you achieve greater precision, and accelerate your growth.

According to a report from Ernst & Young, “the pandemic forced supply chains to develop new agility to carry forward — for example, many organizations are building advanced analytics to do dynamic SKU rationalization rather than doing one-off spreadsheet exercises.”

Setting the stage for process changes like these are AI and automation solutions that deliver enhanced visibility and optimized efficiencies end-to-end. Firstshift.ai is leading the way with an AI-powered, cloud-based demand planning software and supply chain planning platform. Firstshift.ai offers companies the power to more accurately forecast customer needs, sense and respond to market signals faster, and achieve a consensus demand plan with simplified cross-organization collaboration.

Ditch the spreadsheets and make the smart shift — schedule a demo to learn more.

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Halloween is one of the most anticipated holidays of the year, and it’s not just the costumes and decorations that get people excited. For many, the real treat is indulging in Halloween candy. As the spooky season approaches, it’s essential for candy manufacturers and retailers to meticulously plan their supply chain and leverage ai-powered demand sensing. In this blog post, we’ll dive into the importance of forecasting in Halloween supply chain planning, with a particular focus on the rising cost of sugar in the United States.

The Halloween Candy Craze

Halloween candy is big business in the United States, with millions of dollars spent on sweet treats each year. According to the National Retail Federation (NRF), American consumers are expected to spend a whopping $3.6 billion on Halloween in 2023. That is up more than 16% from the $3.1 billion spent on candy in 2022. And the demand for Halloween candy takes a steep nosedive come November 1st, highlighting the importance of getting the Halloween supply chain right.

The Role of Forecasting

Forecasting is a crucial aspect of Halloween supply chain planning. It involves predicting the demand for specific candy products, allowing manufacturers to plan production, manage inventory, and distribute products efficiently. Here’s why forecasting is essential:

Seasonal Demand Fluctuations: Halloween candy demand is highly seasonal, with a significant spike in the weeks leading up to the holiday. Accurate forecasting helps manufacturers determine when to start production to meet this peak demand without overproducing.

Inventory Management: Forecasting enables better inventory management, reducing the risk of overstocking or running out of popular candy products.

Cost Control: Accurate forecasting helps manufacturers optimize their production and distribution processes, reducing waste and production costs.

The Sugar Price Conundrum

One of the critical factors affecting Halloween candy production is the rising cost of sugar in the United States. Sugar is a primary ingredient in most candies, and fluctuations in its price can have a significant impact on production costs. Here’s how forecasting can help mitigate the effects of rising sugar prices:

Strategic Sourcing: By forecasting sugar price trends, candy manufacturers can make informed decisions about when and where to source sugar, potentially locking in prices before they rise further.

Recipe Adjustments: Manufacturers can adjust candy recipes to reduce the amount of sugar used or explore alternative sweeteners if sugar prices become prohibitively high.

Pricing Strategies: Forecasting allows candy manufacturers to plan pricing strategies that reflect the increased production costs due to rising sugar prices, ensuring profitability while remaining competitive.

Leveraging Short-Term Demand Signals

In today’s rapidly changing market, short-term demand signals like Point of Sale (POS) data and syndicated market data provide a valuable advantage in demand planning and forecasting. Here are some advantages of considering these signals for more accurate ai-powered demand sensing and inventory deployment:

Real-Time Insights: POS data provides real-time sales information, allowing manufacturers to adjust production and inventory levels on the fly to meet changing demand patterns.

Market Trends: Syndicated market data offers insights into consumer behavior and preferences, enabling candy manufacturers to adapt their product offerings to match the latest trends.

Minimizing Stockouts and Excess Inventory: By integrating short-term demand signals into forecasting models, manufacturers can reduce the risk of stockouts and excess inventory, optimizing their supply chain operations.

The Taste of Sweet Success

Halloween is a sweet and spooky time of year, and Halloween candy plays a central role in the celebration. The success of candy manufacturers and retailers during this season hinges on effective supply chain planning, with forecasting at its core. By accurately predicting demand, managing inventory efficiently, and adapting to factors like rising sugar prices while leveraging short-term demand signals, Halloween supply chains can navigate the challenges of the season and deliver the treats that make this holiday so special. So, as the Halloween season approaches, remember that behind the candy wrappers lies a meticulously planned supply chain, ensuring that the sweet tradition continues year after year.

If you need help boosting forecast accuracy and harnessing the benefits of ai-powered demand sensing no matter the season, make the smart shift and leverage the AI powered insights from Firstshift.ai. Schedule a demo to see sweet results!

Are you tired of struggling to reduce inventory? Is excess inventory bogging down your supply chain? Do manual spreadsheets leave you feeling frustrated and overwhelmed? I’ve been there, and I’m here to guide you toward a solution that will revolutionize the way you manage inventory. Imagine a world where you can optimize inventory investments, increase forecast accuracy, and accelerate your supply chain planning cycles – all with the power of artificial intelligence (AI). Welcome to the future of supply chain management, powered by Firstshift.ai.

1. Mastering Demand Forecasting with AI: Envision an AI-powered system that quickly analyzes data — historical sales, current market trends, weather forecasts — to provide forecasts with greater accuracy. No more overstocking or understocking nightmares. With Firstshift’s advanced algorithms, you’ll have just the right amount of inventory on hand to meet customer demand, based on data-driven insights, not guesswork.

2. Unlocking Inventory Potential: With AI from Firstshift, you’ll take just-in-time inventory to a new level. The system aligns inventory investments with customer service goals, ensuring you have the right inventory at the right place, at the right time. This means more efficient use of working capital, reduced carrying costs, and improved customer service with great efficiency for your supply chain planning team.

3. Gain with Confidence: Our AI-driven solution seamlessly integrates with your ERP system, creating a more connected enterprise and supply chain plan. Lead times shrink, excess inventory is minimized, and your supply chain planning becomes a well-oiled machine.

4. Clear the SMOG: AI doesn’t just prevent excess inventory – it helps you tackle slow-moving and obsolete inventory (SMOG) head-on. By analyzing market dynamics and customer orders, Firstshift identifies opportunities to liquidate slow-moving inventory strategically. You’ll free up valuable warehouse space and inject working capital back into your business.

5. Evaluate Multiple Scenarios: AI will quickly evaluate multiple business scenarios to give you the data-driven insights you need to guide your business and cost effectively scale your operations.

In a world where supply chain management is more critical than ever, we’ll help you to take back control. It’s time to reduce inventory levels, optimize cash flow, and drive your business success. The future of supply chain planning is here, and it’s intelligent, available, and driven by AI.

Ready to transform your supply chain? Don’t just manage your supply chain – master it with Firstshift.ai. Contact us or schedule a demo to learn more about our innovative platform.

As a Chief Supply Chain Officer (CSCO) of a consumer goods company, you are no stranger to the constant pursuit of productivity, automation, and actionable insights. In this dynamic and challenging global marketplace, staying ahead of the curve is essential for driving faster and better decision-making processes. Excitement abounds as ground-breaking technology, generative AI, emerges as a game-changer for supply chain planning.

As a digital supply chain expert at Firstshift, an innovative technology company, I am equipping you with five essential insights on leveraging generative AI to accelerate and elevate your supply chain planning initiatives.

Generative AI, with its unique ability to efficiently generate new insights from both structured and unstructured data, has the potential to transform your supply chain strategy. As a seasoned expert in supply chain planning technology, cloud solutions and AI, including generative AI, Firstshift holds the key to unlocking unprecedented efficiencies and gaining valuable AI-driven insights.

As a CSCO, your role in catalyzing your company’s value proposition with generative AI is vital. And understanding its capabilities and limitations will be paramount in positioning your organization for success. So, let’s explore the five things every CSCO should know about generative AI. Armed with this knowledge, we’ll empower you to take your supply chain planning to the next level with the innovative power of generative AI.

1. Democratization of Supply Chain Insights: The natural language interpretation and generation capabilities of generative AI can make supply chain insights accessible to more participants within and outside (partners) the enterprise. Processes like Sales and Operations Planning (S&OP) will benefit greatly from generative AI driven insights and the ability to explore multiple business scenarios.

2. Unleashing Unstructured Data: Generative AI’s ability to process unstructured data (documents, emails, etc.) both internal to the enterprise and external unlocks a treasure trove of insights, enabling you to extract value from previously untapped sources. The additional insights can be extremely valuable in areas like supply chain risk management and demand planning.

3. The power of Domain Specific LLMs: Foundational models like GPT-4 (short for “generative pre-trained transformer”), trained using the vast ocean of information available on the internet have shown great promise in use cases associated with content generation. Domain specific LLMs (Large Language Models) that are built by pre-training or fine tuning LLMs with domain specific content (rules, data models etc.) will certainly have a revolutionary impact on enterprise business processes including supply chain processes.

4. Generative AI Enabled Automation: Intelligent agents enabled by generative AI are starting to show promise in automating complex sequences of repetitive tasks. Experiments in this area like Auto-GPT are quickly evolving into more robust and enterprise ready agents. Supply chain processes that rely on making decisions and performing actions based on insights generated from disparate information are prime use cases for these agents.

5. Embrace the Future: View the exploration of generative AI as a mandate rather than an option. It can transform supply chain planning by enhancing data utilization, evaluating diverse business scenarios, accelerating insights, and optimizing key supply chain goals. As CSCOs, you have a crucial role in leading your organization into the future. Embrace generative AI’s transformative potential and position your company to excel in an ever-evolving supply chain landscape.

With generative AI poised to redefine supply chain processes including supply chain planning, CSCOs have an unprecedented opportunity to drive productivity, automation, and strategic insights. Armed with these five crucial insights, you are well-equipped to embrace the possibilities of generative AI and elevate your organization’s supply chain planning to new heights of success. By capitalizing on this innovative technology, you can stay ahead of the competition and revolutionize your supply chain for the better. Embrace the future with generative AI and pave the way for a more efficient and effective supply chain ecosystem.

Ready to make the smart shift?

Our innovative AI-powered platform fuels data-driven recommendations and automation to optimize your demand planning, drive customer satisfaction, and boost your bottom line. Schedule a demo to see the power of generative AI to optimize your supply chain strategy.

About Firstshift

Firstshift’s innovative supply chain planning platform leverages artificial intelligence to automate tedious tasks and provide actionable insights, that free up your valuable resources, allowing you to scale without compromising quality, overloading your team, or incurring unnecessary risks. Experience greater confidence, faster decision-making that comes from new insights, and drive your business forward. The AI-powered supply chain planning platform transforms company operations from the first shift today and into the possibilities of tomorrow. Make the smart shift.

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Are you struggling to improve visibility, synchronize supply and demand, and optimize your planning processes with limited resources? If so, you are not alone. Many supply chain planners face these challenges daily, searching for new insights, automation, and ways to leverage their teams more effectively. In this blog post, we explore how Firstshift, a pioneering startup in AI-driven supply chain planning, can help you overcome these obstacles and achieve success.

Before we dive in, I invite you to read an enlightening article by Lora Cecere, who is known as The Supply Chain Shaman. In the article, “The Dance with AI,” Lora delves into the transformative power of AI in supply chain planning. You can find it here.

After reading the article myself, I wanted to share how we are tackling these challenges and driving innovation for large and midsize businesses. Let’s look at four key areas.

New Startups Driving Innovation

The challenges faced by supply chain planners require innovative solutions, and Firstshift is at the forefront of this innovation. As a startup dedicated to AI-driven supply chain planning, we are reimagining the entire “planning experience “and addressing the needs of capacity-constrained planning teams with insights and automation to drive faster decision-making. Our focus is on empowering your team, streamlining planning processes, transforming data into actionable insights, and leveraging the latest AI technology for planning recommendations and automation. Our goal is to deliver innovations that enable you to make faster, smarter decisions and stay ahead of your competition.

Harnessing data in all forms with AI

Leveraging data efficiently and reliably is crucial for success in AI-driven planning solutions. Afterall, AI is known to be “data hungry.” As such, we recognize the significance of data and have developed robust mechanisms to handle both internal (within the enterprise) and external (partner provided, third party sourced, etc.) data. By tapping into a wealth of both internal and external information, including historical sales data, customer behavior patterns, market trends, and social media insights, our AI algorithms can quickly uncover patterns and correlations that lead to more accurate forecasts and informed decision-making. We empower you to sense and respond to market changes faster, gain greater visibility, streamline operations, and improve overall supply chain performance.

To apply this to your specific use cases, consider scenarios like demand forecasting where you can let the AI pick the “best fit” algorithm instead of manually testing out different statistical techniques or let AI prioritize planning alerts that are time critical for your planners.

Semantic Layer is the Catalyst for Leveraging AI

Whether it be AI-driven supply chain diagnostics or AI-driven planning recommendations, an extensive “supply chain domain model” is needed to leverage the most powerful AI models (including foundation models in Generative AI) in supply chain use cases. That’s why we’ve brought together some of the brightest minds in supply chain planning and artificial intelligence to build the Firstshift supply chain semantic model. This sophisticated framework captures the nuances of supply chain planning and the relationships between various supply chain and broader business elements including financial metrics.

The semantic model acts as the translation layer between natural language, other easy to use interfaces, and powerful AI and optimization algorithms to provide insights and recommendations for supply chain decision-making.

Planning Democratization will Level the Field

With many supply chain planning teams still bogged down with spreadsheet-driven planning and analysis or rigid monthly processes, it’s time to rethink how planning is done. Whether your team has hundreds of planners, or you run lean with fewer than 20 planners, Firstshift can help you redefine your planning process and elevate your team from spreadsheet-jockeys to business analysts with fresh insights to drive faster decision-making. By streamlining the planning process and embracing AI-driven solutions, you can accelerate your ability to sense and respond faster, gaining tangible outcomes for your business.

Are You Ready for Transformation?

Supply chain planning transformation can be a complex puzzle. As Lora Cecere said, “Stop the stupid RFPs that are circulating in the industry. Instead, partner with a few technologists to test and learn.” You need a partner to move your business forward faster. With Firstshift as your partner, success is within reach. By harnessing the power of cloud computing and AI, you can transform your planning processes and overcome the supply chain planning challenges you face.

Ready to make the smart shift? Schedule a demo to get started.

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