Logility

MARCH 6, 2020

Machine Learning for demand forecasting has matured to a level of accuracy, transparency and replicability that translates into transformative results, including in these five areas: Accuracy, transparency, thoroughness of analytical options and results. Let’s take a closer look at each one. Accuracy and transparency.

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Forecasting Supply and Demand Forecasting Software Modeling 260

ThroughPut

MARCH 25, 2024

Demand forecasting is a critical component of supply chain management, especially in the complex and unpredictable market landscape of 2024. Accurate forecasts are essential for maintaining inventory balance, ensuring customer satisfaction, and achieving financial stability. What is Demand Forecasting?

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Logility

APRIL 21, 2023

Now that businesses have better access to predictive forecasting technologies that leverage data from the past and present, such a one-sided approach to forecasting, analytics, reporting, and planning is no longer justifiable. This then translates into fewer lost sales and lowering product unavailability by up to 65%.

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Forecasting Forecasting Software Supply Chain Planning Software Big Data 130

Logility

APRIL 21, 2020

The ability to effectively forecast demand is essential for supply chain management decisions. In fact, demand forecasts are used throughout the supply chain including supply chain design, purchasing, operations, inventory, and sales and marketing. The payoffs were big, but they did not come easily. So what’s the upside?

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SYSPRO Smarter ERP

MARCH 15, 2023

Manufactures are continuously faced with the challenge of forecasting how much (raw material) to purchase and how much (finished goods) to produce. To manage this delicate balance of demand and supply, manufacturers often use statistical forecasting techniques to predict future demand by looking at historical sales data.

Forecasting 105

Forecasting Forecasting Software Demand Planning Software Modeling 105

ToolsGroup

NOVEMBER 27, 2018

Editor’s Note: Two years ago we posted a blog about how to set an annual forecast accuracy target and it was one of our most popular topics. It seems as if everyone is looking to improve their forecasting performance. How much can you realistically expect to improve your forecast accuracy each year?

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Forecasting Forecasting Software Supply and Demand Modeling 214

Logility

MARCH 6, 2024

With improving machine learning and artificial intelligence capabilities, advanced analytics are shifting, becoming a more attractive option to leaders across industries. But how can you incorporate advanced analytics into your supply chain flow? What Are Advanced Analytics? What Are the Benefits of Advanced Analytics?

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Prescriptive Analytics Software Analytics Software Predictive Analytics Supply Chain Planning Software 183

The Smart Software

SEPTEMBER 5, 2023

Forecasting inventory requirements is a specialized variant of forecasting that focuses on the high end of the range of possible future demand. The post How to forecast inventory requirements appeared first on Smart Software. Traditional methods often rely on bell-shaped demand curves, but this isn't always accurate.

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SYSPRO Smarter ERP

MAY 10, 2023

In this post, we look at how adopting machine learning can enable organisations to forecast demand with high accuracy despite the increasing volatility in the supply chain. Therefore, they calculate demand forecasts that respond to changing market conditions and consumer behaviour in real-time.

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Supply Chain Shaman

APRIL 16, 2024

Let’s start with definitions: Self Service Planning: Decision support technologies designed for business leaders to use analytic techniques on a collaborative platform to improve business planning. This week, I was at Informs Analytics Conference. Turn Volume Make to stock Very Forecastable. This is how we should jump.

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Supply Chain Planning Software Supply Chain Design Software How To Inventory Reduction 217

ThroughPut

MARCH 24, 2024

Demand planning and forecasting in the traditional sense relied heavily on a combination of limited and biased data and gut instinct. Not limiting this ability to just rectifying errors, analytics can also be leveraged into demand forecasting and profit generation. Why do you Need Modern Demand Sensing to Solve Modern Problems?

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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. Let’s look at the benefits of inventory forecasting. 

Forecasting 52

Forecasting Forecasting Software Inventory Reduction Supply Chain Planning Software 52

SYSPRO Smarter ERP

MARCH 29, 2023

Incorporate external data with demand forecasting While the demand planning process normally focuses on internal operational data such as historical sales, some experts argue that using only internal data when forecasting demand is making an incorrect assumption that nothing other than internal business operations affect consumers’ choices.

Forecasting 105

Forecasting Forecasting Software Demand Planning Software Supply and Demand 105

ToolsGroup

JANUARY 30, 2018

Trade promotion forecasting is difficult: getting it right involves factoring in many variables. Forecasting demand data, not so much. To do this, the first hurdle is creating a good statistical baseline forecast. To do this, the first hurdle is creating a good statistical baseline forecast.

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Forecasting Forecasting Software Supply Chain Planning Software Analytics Software 184

Kinaxis

NOVEMBER 14, 2019

by Polly Mitchell Guthrie Today I sat through a full day of talks at the International Institute of Forecasters Foresight Practitioner Conference , which was focused on the topic of “Artificial Intelligence —The Hype and the Promise for Forecasting and Planning.” What is the forecast for AI/ML? Some promising results.

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Forecasting Forecasting Software Supply Chain Planning Software Modeling Software 240

Logility

APRIL 23, 2020

So, the promise of using statistical algorithms, forecasting and predictive analytics is now added to the list of a company’s number one priorities. Here are a few steps that you will need to take to deploy your forecasts successfully. Building analytic models is both art and science. One may ask, “What’s next?”

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Logility

OCTOBER 29, 2021

Process manufacturers in particular, with their reliance on a consistent ingredient mix, have unique challenges that require accurate forecasting to keep up with manufacturing demand. Predictive analytics uses artificial intelligence tools that provide not only real-time data but historical information as well.

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Manufacturing Procurement Forecasting Supply Chain Planning Software Forecasting Software 130

ToolsGroup

FEBRUARY 21, 2018

Eight years ago ToolsGroup was one of the first supply chain planning software vendors to employ machine learning to improve demand forecasting. Even in 2014 when Gartner wrote a case study about Danone using our machine learning to help forecast promotions, it was barely a blip on the horizon. Machine learning has certain strengths.

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The Smart Software

JULY 28, 2023

Sales forecasts are often inaccurate simply because the sales team is forced to give a number even though they don’t really know what their customer demand is going to be. Don’t bother playing the game of feigning acceptance of these forecasts when both sides (sales and supply chain) know it is often nothing more than a WAG.

Forecasting 73

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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

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Logility

MARCH 13, 2020

Here’s your two-minute guide to understanding and selecting the right descriptive, predictive and prescriptive analytics for use across your supply chain. Companies that are attempting to optimize their S&OP efforts need capabilities to analyze historical data, and forecast what might happen in the future.

Prescriptive Analytics Software 210

Prescriptive Analytics Software Predictive Analytics Procurement Analytics Analytics Software 210

The Smart Software

JULY 31, 2023

Often companies will insist that they “don't use forecasts” to plan inventory. While they don't think of what they are doing as explicitly forecasting, they certainly use estimates of future demand to develop reorder points such as min/max. The post Everybody forecasts to drive inventory planning.

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ToolsGroup

OCTOBER 11, 2017

I’ve always maintained that improving demand forecast accuracy, as helpful as it can be, shouldn’t be the end goal itself, but simply a means to the end. A recent report from Gartner agrees, focusing specifically on the challenge of building a better business case for improved forecast accuracy.

Forecasting 180

Forecasting Supply and Demand Forecasting Software Optimal Sourcing 180

CHAINalytics

MARCH 30, 2022

This blog post is the fourth part of a Chainalytics’ Integrated Demand … The post SFaaS: Boost Your Team’s Performance With Statistical Forecasting as a Service appeared first on Chainalytics. Now, supply chain planning services offer an alternative to planning done solely in-house.

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The Smart Software

OCTOBER 10, 2022

The post Scenario-based Forecasting vs. Equations appeared first on Smart Software. But we at Smart Software think you would do better by trading in your equations for scenarios. Learn why Scenario-based planning helps planners better manage risk and create better outcomes.

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Forecasting Scenario Planning Forecasting Software Supply Chain Planning Software 72

Supply Chain Matters

JANUARY 18, 2024

NRF had previously forecasted that online sales would grow in a range of between 7 percent to 9 percent and thus the actual was in line with the forecast. trillion, in-line with NRF ’s adjusted forecast. Adobe Analytics indicated that U.S. For comparison, online sales in 2022 were $255.8 percent to a record $5.13

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ToolsGroup

FEBRUARY 16, 2022

BOSTON, February 16, 2022 : ToolsGroup , a global leader in supply chain planning and optimization software, has partnered with Planalytics to integrate their weather-driven demand (WDD) analytics with ToolsGroup’s retail planning solutions, enabling customers to isolate, measure, and manage the influence of weather on their businesses.

ToolsGroup 177

ToolsGroup Procurement Analytics Predictive Analytics Analytics Software 177

Arkieva

OCTOBER 10, 2018

How to determine when to use a best-fit analysis and when to use prediction techniques for demand forecasting analysis. Demand Forecasting Analytical Methods: Fit Vs. Predict was first posted on October 10, 2018 at 11:45 am.

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Logility

JANUARY 12, 2024

Navigating the $5 trillion North American apparel market requires precision, especially when dealing with the intricate complexities of forecasting and inventory management. The Apparel Industry’s Forecasting Maze Mastering the art of forecasting is critical in the apparel industry.

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Inventory Reduction Waste Reduction Resource Reduction Cost Reduction Strategies 246

Supply Chain Shaman

SEPTEMBER 25, 2017

And, even if we can afford the costs, we don’t get good answers with our current forecasting processes,” stated the supply chain leader on the phone. Inherently, business leaders know that traditional forecasting processes are inadequate. The shift in analytics capabilities opens new doors.

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DELMIA Quintiq

SEPTEMBER 26, 2013

Till the moment comes when we can just buckle in and set the dial to 10 years from now, we need to equip ourselves with the right tools and skills to forecast for the future. Improving your demand forecast is one of the best things you can do for your sales and operations planning. Forecasts are never 100% accurate. Why is this?

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Forecasting Forecasting Software Supply and Demand Demand Planning Software 280

Kinaxis

NOVEMBER 28, 2017

When it comes to forecasting and demand management , a lot. For events like the Super Bowl, retail demand planners create forecasts using data from a variety of sources to adjust product demand profiles in anticipation of which product, or group of products might be in demand the most. compared to the previous year.

Forecasting 156

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The Smart Software

MARCH 3, 2021

If you keep up with the news about supply chain analytics, you are more frequently encountering the phrase “probabilistic forecasting.” Probabilistic forecasts have the ability to simulate future values that aren’t anchored to the past. The post A Primer on Probabilistic Forecasting appeared first on Smart Software.

Forecasting 52

Forecasting Forecasting Software Analytics Software Supply Chain Planning Software 52

ThroughPut

JUNE 12, 2023

As a result, the forecasting errors in logistics have only multiplied ever since the pandemic and with conventional forecasting models failing to insulate you against underutilization, revenue loss and missed business opportunities, you need to don the Batman’s cape to save the day!

Forecasting 52

Forecasting Modeling Forecasting Software Optimal Sourcing 52

ToolsGroup

NOVEMBER 15, 2016

In 2016, it seemed as if everyone in supply chain was looking to improve their forecasting performance. Unsurprisingly, the highest percentage of respondents in a recent Gartner/Supply Chain Digest survey selected forecast accuracy and demand variability as the top barriers preventing them from reaching their broader supply chain goals.

Forecasting 120

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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

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ThroughPut

OCTOBER 7, 2022

Step Up Demand Planning Efforts with a Robust Forecasting Model . Demand forecasting can be a game changer in today’s volatile environment. Infact, according to McKinsey , applying AI-driven demand forecasting to supply chain management can cut down errors by 20-50% and this helps reduce lost sales by 65%.

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