OptiProERP

SEPTEMBER 21, 2023

Inventory forecasting, or demand forecasting, estimates future inventory levels needed using past data, upcoming events, and market trends. Inventory forecasting ensures manufacturers have the proper inventory to meet customers’ needs while minimizing excess inventory costs. Reduced cost  Inventory is equivalent to money.

Forecasting 52

Forecasting Forecasting Software Inventory Reduction Supply Chain Planning Software 52

SYSPRO Smarter ERP

DECEMBER 19, 2022

In an increasingly unpredictable world environment, practices for planning and forecasting inventory levels that worked in the past need to be reviewed. More recently, artificial intelligence (AI) has been promoted as the way to address the complexities of inventory planning and forecasting.

Forecasting 98

Forecasting Forecasting Software Inventory Reduction Supply Chain Planning Software 98

Supply Chain Shaman

MARCH 21, 2024

During the 1980s, I was on a management team for a large manufacturer. The Company was attempting to gain economies of scale by grouping manufacturing technologies within a common infrastructure to reap the benefits of a co-generation facility, a centralized warehouse, and a talented administrative team. Instead, we need to Jump.

Inventory Reduction 424

Inventory Reduction Supply Chain Planning Software Cost Reduction Strategies Supply Chain Design Software 424

ThroughPut

MARCH 24, 2024

However, the pandemic upended all processes that involved manufacturing, supply, and delivery of goods. This scenario raises the question: “How do we build systems that enable better demand planning for manufacturers, and what are the processes that support these?” Why do you Need Modern Demand Sensing to Solve Modern Problems?

Supply and Demand 52

Supply and Demand Optimal Sourcing Forecasting Modeling 52

Supply Chain Shaman

APRIL 16, 2024

With the evolution of eCommerce, shifts in regional preferences, complexities of product portfolios, decline in forecastability, and increase in demand and supply variability, supply chain planning is more challenging. Turn Volume Make to stock Very Forecastable. Long Tail Configure to Order or Make to Order Not forecastable.

Supply Chain Planning Software 221

Supply Chain Planning Software Supply Chain Design Software How To Inventory Reduction 221

New Horizon Supply Chain Blog

AUGUST 30, 2023

Introduction I was recently in a conversation about forecasting with a client team, and one individual, whose background was not in supply chain, asked what the value of demand forecasting is. The link between forecast accuracy and corporate goals is less clear. But that doesn’t make forecasting any less important.

Forecasting 52

Forecasting Supply and Demand Material Savings Inventory Reduction 52

Supply Chain Shaman

NOVEMBER 15, 2023

The essence of the question is resilience and the ability to forecast in a variable market reliably. This gets us to the question of what is the role of the forecast?` For most, forecasting is a conundrum full of potholes, politics, and bias. I attempted and failed to: Use Point of Sale Data in Supply Chain Forecasting.

Supply Chain Planning Software 413

Supply Chain Planning Software Optimal Sourcing Modeling Forecasting Software 413

ThroughPut

DECEMBER 5, 2023

Accurately forecasting sales with fluctuating demand cycles is difficult to achieve, and yes, there’s a direct impact: the less accurate the sales forecast, the less precise the stocking levels. The lack of forecasting accuracy can easily spill hardship into other departments. What is Demand Forecasting?

Supply and Demand 52

Supply and Demand Forecasting Forecasting Software Demand Planning Software 52

Logistics Viewpoints

DECEMBER 15, 2022

For companies that want to go beyond the traditional spreadsheet, which cannot handle this ocean of information efficiently, statistical methods such as cluster analysis can help. What is Cluster Analysis? Cluster analysis is a statistical umbrella term for methods that classify data points according to their attributes.

Optimal Sourcing 194

Optimal Sourcing Analysis Procurement Analytics Purchasing Skills 194

Supply Chain Shaman

JUNE 21, 2023

While I was preparing for surgery, Gartner released the Gartner Top 25 Analysis. The analysis is now in its ninetieth year. The Gartner analysis is biased toward companies within the Gartner network. Semiconductor Industry Analysis Would you feel better about your results if you were Intel or TSMC? The reason?

Gartner 391

Gartner Supply Chain Planning Software Supply Chain Design Software Supply Chain Planning 391

ShipBob

JULY 9, 2021

If only there was a crystal ball to foresee unexpected events, manufacturing delays, and fluctuations in customer demand. . And since an ecommerce supply chain consists of several moving parts, how does an online brand go about supply chain forecasting, so they can make better predictions and decisions? Download the Guide.

Forecasting 98

Forecasting Forecasting Software Supply Chain Planning Software Supply Chain Software 98

SYSPRO Smarter ERP

NOVEMBER 30, 2021

Ask manufacturing leaders what changes they plan to make in the next three years in the wake of the coronavirus pandemic, and they will likely say their use of technology will deepen as more and more players in their supply chains come to rely on digital connections for daily interactions. A Better Way to Forecast. Talent gaps: ?

Forecasting 105

Forecasting Forecasting Software Inventory Management Software Supply Chain Planning Software 105

Supply Chain Shaman

MARCH 21, 2023

Note that in Figure 1, retail home improvements days of inventory increased 68 days, contract manufacturing days increased 48 days, retail apparel by 28 days, and containers and packaging manufacturing companies by 14 days. When I work with clients, nine out of ten, have a negative Forecast Value Added (FVA).

Inventory Reduction 412

Inventory Reduction Inventory Price Reduction Cost Reduction Strategies 412

ToolsGroup

MAY 2, 2024

Solutions in the Demand Planning category must produce reliable forecasts by extracting key insights from metrics like inventory trackers, converting raw data into actionable forecasts, supporting automation and leveraging predictive analysis.

ToolsGroup 156

ToolsGroup Supply Chain Planning Software Supply and Demand Supply Chain Software 156

New Horizon Supply Chain Blog

JULY 15, 2022

I was recently in a conversation about forecasting with a client team, and one individual, whose background was not in supply chain, asked what the value of demand forecasting is. The link between forecast accuracy and corporate goals is less clear. But that doesn’t make forecasting any less important. Introduction.

Forecasting 52

Forecasting Supply and Demand Material Savings Inventory Reduction 52

Logility

MARCH 29, 2017

Is 100% forecast accuracy attainable? Anyone that has ever had to forecast demand for products or services knows that obtaining a consistently high forecast accuracy is part science and part magic. Clearly, forecast accuracy is very important. Should it be? Wouldn’t that be called an order? Learn from your Peers.

Forecasting 100

Forecasting Forecasting Software Supply Chain Planning Software Agile and Lean Supply Chain 100

Supply Chain Shaman

DECEMBER 28, 2020

My goal is to convince you to ground supply chain processes and technology implementations in data analysis while tying the results to the improvement in corporate performance. The first story is about a large regional food manufacturer. The SAS forecasting system implemented in 2019 was not tested for model accuracy.

Supply Chain Planning Software 418

Supply Chain Planning Software Forecasting Forecasting Software Modeling 418

My Office Apps

MARCH 19, 2024

Manufacturing Company Needs Assessment and Pain Point Checklist I. Needs: Lean manufacturing practices, process improvement initiatives, preventive maintenance programs, quality control measures, material requirements planning (MRP) for optimized inventory control. Production A. Operations Management A.

Inventory Management Software 52

Inventory Management Software Supply Chain Planning Software Forecasting Software Optimization Software 52

Demand Solutions

DECEMBER 16, 2014

The brand new Demand Solutions e-book: 42 Principles of Forecasting provides practical and actionable tips for how any company can improve its forecasting process. I used to work in a dairy, a 99-year-old family-run business that manufactured ice cream in every flavor imaginable and every package size that our customers would take.

Forecasting 147

Forecasting Forecasting Software Supply Chain Planning Software Demand Planning Software 147

Supply Chain Shaman

OCTOBER 11, 2023

Today, it is a skewed distribution with only 7% of manufacturing and retailers claiming to be innovators to drive first-mover advantage through technology. I often laugh when companies ask me to define a good forecast. No network provider is driving interoperability between networks or break through thinking in outside-in processes.

Supply Chain Planning Software 410

Supply Chain Planning Software Supply Chain Software Forecasting Software Supply Chain Network Software 410

Supply Chain Shaman

FEBRUARY 26, 2024

For example, in manufacturing, the shift in focus is away from OEE to focus on first pass yield and schedule adherence.) Start by analyzing your Forecast Value Added by demand stream. Based on the work with Georgia Tech, we are getting clear on which metrics matter by industry. What defines maturity? Maturity evolves over time.

Modeling 215

Modeling Supply and Demand Optimal Sourcing Supply Chain Planning Software 215

ToolsGroup

JANUARY 15, 2024

Solutions in the Demand Planning category must produce reliable forecasts by extracting key insights from metrics like inventory trackers, converting raw data into actionable forecasts, supporting automation, and leveraging predictive analysis.

ToolsGroup 177

ToolsGroup Supply Chain Planning Software Supply Chain Software Supply and Demand 177

Supply Chain Shaman

JUNE 30, 2023

John’s company is a process-based manufacturer and Anne’s ERP solution is a better fit for configure to order which leads to limitations. Through data analysis help the team understand the trade-off (the effective frontier) and the need for a clear definition of supply chain excellence.

Supply Chain Planning Software 353

Supply Chain Planning Software Supply Chain Design Software Agile and Lean Supply Chain Eliminating Excel in Purchasing 353

ToolsGroup

DECEMBER 6, 2016

Editor's Note: This is the second in a three part series on advanced demand analytics to improve demand forecasting. Demand forecasting software can usually factor in climate and seasonality , like more ice cream being sold during summer months or in warmer climates. But weather data adds a more granular time-sensitive signal.

Forecasting 120

Forecasting Forecasting Software Demand Planning Software Modeling 120

SYSPRO Smarter ERP

JULY 3, 2023

Using artificial intelligence (AI) in manufacturing can significantly improve productivity, reduce equipment failure, increase production efficiency and help identify new business opportunities. The area of AI that manufacturers need to explore to drive their factories into the future is machine learning (ML). The Industry 4.0

Manufacturing Procurement 98

Manufacturing Procurement Optimal Sourcing Manufacturing Data 98

DELMIA Quintiq

JANUARY 11, 2021

The global wire and cable manufacturing industry is slated to be valued at US $232 billion by 2025 at an annual growth rate (AGR) of approximately 5 percent. However, gradually complex manufacturing environments may prove to be a challenge for those who struggle with demand forecasting accuracy.

Modeling 268

Modeling Scenario Planning Optimization Modeling Supply Chain Optimization 268

Unleashed

APRIL 18, 2024

The manufacturing industry thrives on efficiency gains. Just-in-time (JIT) manufacturing is a production management approach that helps you lift efficiency and streamline your operational processes. What is just-in-time manufacturing? What is just-in-time manufacturing? Here’s how it works.

Just-in-Time 52

Just-in-Time Manufacturing Procurement Waste Reduction Inventory Reduction 52

DELMIA Quintiq

APRIL 6, 2020

In any regular year, manufacturers of seasonal foods such as ice cream, beer and BBQ meat have to deal with uncertainty because consumption of their products are highly dependent on food trends and the weather. Demand planning, however, gets even tougher for manufacturers with the COVID-19 outbreak in 2020.

Scenario Planning 296

Scenario Planning Supply Chain Planning Software Food Modeling 296

ToolsGroup

SEPTEMBER 6, 2023

The Quadrant Knowledge Solutions SPARK Matrix™ provides competitive analysis & ranking of the leading Global Supply Chain Inventory Optimization (IO) vendors. Quadrant Knowledge Solutions’ SPARK Matrix™ includes a detailed analysis of global market dynamics, major trends, vendor landscape, and competitive positioning.

ToolsGroup 156

ToolsGroup Optimization Software Supply Chain Design Software Supply Chain Planning Software 156

My Office Apps

MARCH 19, 2024

Manufacturing Company Needs Assessment and Pain Point Checklist I. Needs: Lean manufacturing practices, process improvement initiatives, preventive maintenance programs, quality control measures, material requirements planning (MRP) for optimized inventory control. Production A. Operations Management A.

Inventory Management Software 40

Inventory Management Software Supply Chain Planning Software Forecasting Software Manufacturing 40

ToolsGroup

JULY 27, 2021

Consumer goods e-commerce sales for example increased 91% year over year according to a NielsenIQ analysis. No forecast can predict the future with absolute certainty. No forecast can predict the future with absolute certainty. Sense Consumer Demand to Fine-Tune Forecasts.

Agile and Lean Supply Chain 290

Agile and Lean Supply Chain Supply and Demand Supply Chain Planning Software Gartner 290

ThroughPut

AUGUST 24, 2021

However, the pandemic upended all processes that involved manufacturing, supply, and delivery of goods. This scenario raises the question: “How do we build systems that enable better demand planning for manufacturers, and what are the processes that support these?”. Execute high-performing product mix & sales forecasts with AI.

Supply and Demand 52

Supply and Demand Optimal Sourcing Forecasting Modeling 52

Demand Solutions

DECEMBER 16, 2014

The brand new Demand Solutions e-book: 42 Principles of Forecasting provides practical and actionable tips for how any company can improve its forecasting process. One of my responsibilities as director of marketing was to provide our plant manager with sales forecasts.

Forecasting 100

Forecasting Forecasting Software Supply Chain Planning Software Demand Planning Software 100

Unleashed

JANUARY 14, 2024

Manufacturing inventory management is crucial to the success and profitability of your manufacturing operations. This guide for manufacturers explains how it works and explores the most effective ways to manage inventory in manufacturing.

Inventory Management Software 52

Inventory Management Software Manufacturing Procurement Inventory Reduction Inventory Management 52

ToolsGroup

SEPTEMBER 20, 2022

Automation is at the center of modern manufacturing businesses, with companies exploring the possibilities of artificial intelligence in improving workflows and profitability. Industrial engineers incorporate these technologies in designing and fabricating advanced manufacturing systems. How AI Is Changing the Manufacturing Industry.

Manufacturing Procurement 156

Manufacturing Procurement Supply Chain Design Software Optimal Sourcing Supply Chain Planning Software 156

Supply Chain Game Changer

JUNE 2, 2022

Industry 4.0 , sometimes also called the fourth industrial revolution , is a trend of data exchange and automation in changing manufacturing and manufacturing technologies. have created opportunities for manufacturers to use the massive amounts of data they collect to monitor and improve the quality of their products.

Manufacturing 113

Manufacturing Data Predictive Analytics Software Industrial 113

Supply Chain Shaman

APRIL 9, 2021

of revenue on information technology (IT), only six percent of manufacturers drove performance at the intersection of growth and margin. Average performance in 2016-2019 across twenty-seven manufacturing sectors on inventory turns, Return on Invested Capital and operating margin was worse than in 2012-2015. Despite spending 1.1%

Supply Chain Planning Software 369

Supply Chain Planning Software Procurement Analytics Supply Chain Performance Manufacturing Procurement 369