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Fast Feedback Loop is an important part of Supply Chain design.
Supply chain teams in most companies are working on making their supply chains more agile and responsive to actual demand. However, I see most of them looking at improvement in forecast accuracy and complex optimisations to ensure supplies in a volatile demand environment.
An important element of supply chain design, which is often missed, is creating Fast Feedback Loops to sense actual demand and use it for updating supply plans. Many companies have this feedback loop operating at weekly or monthly level, whereas actual customer and consumer orders are available daily.
If we incorporate daily feedback as a part of the Fast Feedback Loops, the supply chains can adjust faster and ensure that supplies are in line with the evolving demand patterns.
Demand sensing, flexibility and responsiveness continue to be the key capabilities for an agile supply chain.