Arkieva

SEPTEMBER 14, 2021

A successful demand planning process accurately forecasts demand and revenue streams, and subsequently drives the next steps in the S&OP process which are Inventory, Supply Planning, and Optimization. Automated Forecasting was first posted on September 14, 2021 at 8:38 am.

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Forecasting Supply Chain Software Supply and Demand S&OP 126

QAD

APRIL 10, 2024

The adoption of demand forecasting tools can help overcome the challenges of demand fluctuation in a timely manner. A reliable system should provide accurate forecasts and recommendations to optimize inventory management and prevent unnecessary costs. However, ensuring the quality of a forecast is not an easy task.

Optimal Sourcing 52

Optimal Sourcing Forecasting Supply and Demand Forecasting Software 52

Arkieva

MAY 10, 2022

Is there an equivalent to the Hippocratic Oath for forecasters? What harm(s) can a forecaster easily avoid? This blog explores some examples. The Hippocratic Oath for Forecasters was first posted on May 10, 2022 at 9:02 am.

Forecasting 122

Forecasting Supply Chain Planning Examples Supply and Demand 122

Arkieva

AUGUST 17, 2021

Having access to an accurate forecast is very beneficial for businesses. How Forecastable is Your Data? ©2017 " Supply Chain Link Blog - Arkieva " Use of this feed is for personal non-commercial use only. If used correctly, it can provide better margins, increase market shares, and many other positive results.

Forecasting 157

Forecasting Data Supply and Demand Modeling 157

Arkieva

JULY 18, 2023

Predicting the future is difficult, yet forecasting remains a critical tool for businesses to plan and prepare for what lies ahead. Why Planning Forecasts Are Wrong and What You Can Do About It was first posted on July 18, 2023 at 10:06 am.

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Forecasting Forecasting Software Supply Chain Planning Software Supply Chain Planning 134

ToolsGroup

JUNE 17, 2021

Accurate forecasting of uncertain demand. Probabilistic forecasting then produces a range of possible outcomes with probabilities assigned to all values within the range. Probabilistic forecasting then produces a range of possible outcomes with probabilities assigned to all values within the range. Right-sizing inventory.

Forecasting 295

Forecasting Forecasting Software Modeling Supply Chain Planning Software 295

Arkieva

JANUARY 26, 2021

Some time ago, I had been trying to help a business improve its statistical forecasting. We tried different parameters and different forecasting algorithms but the statistical forecast for about half of the products could not be improved no matter what we tried. We decided to do a deep dive to understand the reason.

Supply and Demand 157

Supply and Demand Forecasting Demand Planning Supply Chain Strategy 157

Arkieva

OCTOBER 25, 2021

Our focus in this blog series has been to establish forecast accuracy targets. In very general terms, the goal should be to add value to the business through the forecasting process. We have however focused on the forecast value add and using that to create a minimum acceptable forecast accuracy target in the previous blog.

Forecasting 138

Forecasting Data Supply and Demand Supply Chain Planning 138

CHAINalytics

MARCH 15, 2022

Measuring forecast accuracy (FA) determines the degree to which an organization can accurately predict sales. High forecast accuracy leads to lower required inventory levels, fewer lost sales, and optimized working capital.

Forecasting 126

Forecasting Supply and Demand Scenario Planning Supply Chain Optimization 126

CHAINalytics

APRIL 12, 2022

Many businesses use traditional statistical forecasting methods in demand planning processes, and they are effective for most basic needs. But there are more advanced data science approaches which can improve the accuracy of forecasts and provide additional insight into their drivers.

Forecasting 116

Forecasting Data Supply and Demand Demand Planning 116

Arkieva

AUGUST 25, 2021

Learn the best approach to setting forecast accuracy targets and how to set expectations for your management team. An Approach to Setting Forecast Accuracy Targets was first posted on August 25, 2021 at 8:38 am. ©2017 " Supply Chain Link Blog - Arkieva " Use of this feed is for personal non-commercial use only.

Forecasting 143

Forecasting How To Supply Chain Planning Supply and Demand 143

ToolsGroup

MAY 19, 2021

Demand forecasting is tough, and getting it right over the entire product lifecycle during the course of launch, maturation, and end-of-life is tougher still. Forecasting new product introductions is difficult because you don’t have sales history, and you don’t have a good idea of how quickly the product will take off.

Forecasting 156

Forecasting Forecasting Software Supply and Demand Supply Chain Planning Software 156

ToolsGroup

MARCH 3, 2022

Despite knowing all this, too many retailers ignore the impact of weather and this adds error to plans and demand forecasts. And even though meteorology has come a long way, weather is a notoriously fickle and uncontrollable factor, and no forecaster can reliably predict it beyond the next few weeks. It all evens out in the end.

Forecasting 156

Forecasting Forecasting Software Procurement Analytics Retail 156

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

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?

Forecasting 52

Forecasting Forecasting Software Modeling Demand Planning Software 52

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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Forecasting Forecasting Software Inventory How To 81

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?

Forecasting 214

Forecasting Forecasting Software Supply and Demand Modeling 214

Arkieva

NOVEMBER 2, 2021

One of the many ways to improve the forecast is to forecast using a pyramid process, starting at the base, then forecasts the subsequent levels moving upwards. The objective of using the pyramid forecast process is to use the less detailed portions of the pyramid to improve the base level forecast of the pyramid.

Forecasting 78

Forecasting Supply Chain Software Supply and Demand Supply Chain Planning 78

AIMMS

SEPTEMBER 9, 2019

Part II in our series on assessing your Demand Forecasting process . In Part I of this series , we looked at supply chain professionals’ perception of forecast accuracy and how they see their forecast evolving in the future. The use of technology for demand forecasting is widespread .

Forecasting 207

Forecasting Forecasting Software Demand Planning Software Modeling 207

Arkieva

JUNE 15, 2023

Our latest webinar examines the varying definitions of machine learning and artificial intelligence while discussing how they can be leveraged to improve your statistical forecast. How to Improve Your Statistical Forecast Using Machine Learning was first posted on June 15, 2023 at 8:11 am.

Forecasting 78

Forecasting How To Supply Chain Planning Supply and Demand 78

ToolsGroup

FEBRUARY 2, 2022

Here’s my forecast for what will progress this year against that vision: A major cloud provider – Google, Amazon, or Microsoft – will emerge as the dominant host of the open supply chain platform. In 2022 these, along with the probabilistic forecasting methods that they enable, will become mainstream supply chain planning tools.

Supply Chain Planning Software 177

Supply Chain Planning Software Forecasting Software Forecasting Optimization Software 177

SYSPRO Smarter ERP

MARCH 29, 2023

As discussed in the previous blog post, the demand planning process, whose success depends on effective collaboration between teams from various departments, was negatively affected by the pandemic. It is important to note that organisations rely on forecasting algorithms, which have been used for decades, to predict future demand.

Forecasting 105

Forecasting Forecasting Software Demand Planning Software Supply and Demand 105

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.

Forecasting 219

Forecasting Forecasting Software Demand Planning Software Supply and Demand 219

Supply Chain Matters

MARCH 25, 2024

Last week, the National Retail Federation (NRF) forecasted its outlook for retail sales this year. Non-store and online sales included in the above figure are forecasted to grown in a range of between 7 percent and 9 percent year-over-year, equating to a range of $1.47 The 2024 forecast compares to the sales growth of $5.1

Forecasting 52

Forecasting Forecasting Software Retail Procurement Analytics 52

Arkieva

APRIL 6, 2021

In this blog we briefly cover some key insights for successful time series forecasting: (a) Profiling the Shape of the Curve is the first stage, and the first step is assessing if the time series is stationary. (b) b) The forecast method identified must capture the shape and be able to project the shape across time. (c)

Forecasting 90

Forecasting Supply Chain Supply and Demand Examples 90

Arkieva

AUGUST 31, 2021

The cycle stock is the one most connected to the demand forecast; it is expected to be sold as the forecast becomes real demand. As such, it is not always linked to forecasting accuracy. Relationship Between Forecast Accuracy and Safety Stocks was first posted on August 31, 2021 at 8:31 am.

Forecasting 105

Forecasting Supply and Demand Supply Chain Planning Inventory 105

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. Challenges of IO and AI.

Forecasting 105

Forecasting Forecasting Software Inventory Reduction Supply Chain Planning Software 105

ThroughPut

MARCH 25, 2024

In supply chain management, accurately distinguishing between demand planning and demand forecasting is essential yet challenging. The consequences of conflating demand planning with demand forecasting are significant, impacting inventory management, customer satisfaction, and financial health. What is Demand Forecasting?

Supply and Demand 52

Supply and Demand Forecasting Forecasting Software Demand Planning Software 52

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.

Forecasting 98

Forecasting Forecasting Software Modeling Supply and Demand 98

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.

Forecasting 133

Forecasting Supply Chain Planning Supply and Demand Supply Chain Performance 133

ToolsGroup

SEPTEMBER 9, 2020

How Do You Turn a Good Demand Forecast into the Optimum Inventory Plan? Your customers don’t care if you have a great demand forecast. How do you turn a good forecast into a great inventory plan? How do you turn a good forecast into a great inventory plan? They care if you have the inventory they want when they want it.

Forecasting 156

Forecasting Modeling Forecasting Software Inventory Reduction 156

Arkieva

OCTOBER 6, 2021

It is important to measure and improve the forecast accuracy at the right level of aggregation. If you measure at too high a level, your accuracy picture will look better than what it needs to be as the data at high (aggregated) levels is more forecastable. By contrast, at too low a level. By contrast, at too low a level.

Forecasting 97

Forecasting Report Supply Chain Planning Supply and Demand 97

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. Challenges of IO and AI.

Forecasting 98

Forecasting Forecasting Software Inventory Reduction Supply Chain Planning Software 98

Arkieva

AUGUST 12, 2020

Machine Learning: Optimization and Community Intelligence – A Wiser Forecasting was first posted on August 12, 2020 at 7:41 am. ©2017 " Supply Chain Link Blog - Arkieva " Use of this feed is for personal non-commercial use only.

Forecasting 163

Forecasting Supply Chain Optimization Price Mitigation Strategies Supply and Demand 163

Arkieva

JANUARY 10, 2023

How can you account for returns in your demand forecasting? Surviving the Impact of Holiday Returns on Demand Forecasting was first posted on January 10, 2023 at 8:20 am. ©2017 " Supply Chain Link Blog - Arkieva " Use of this feed is for personal non-commercial use only.

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Forecasting Supply and Demand Supply Chain Planning Supply Chain 78

Supply Chain Matters

DECEMBER 11, 2023

Today, the United Nations Conference on Trade and Development (UNCTAD) issued its latest forecast update on overall global trade, and the narrative is not encouraging or optimistic. Outlook for 2024 The current updated UNCTAD forecast provides a more pessimistic forecast for 2024. percent in 2023 and a forecasted 4.8

Forecasting 52

Forecasting Global Price Reduction Supply Chain Planning 52

QAD

JULY 6, 2023

AI technology can be used to help with forecasting, supply chain planning and demand planning. It allows you to understand the market better and make better decisions, as well as helping you make more accurate forecasts. It’s clear that AI forecasting can make a huge impact on the supply chain.

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Forecasting Supply Chain Planning Software Supply Chain Planning Forecasting Software 93