article thumbnail

The Forecasting Accuracy Bugaboo

Logistics Viewpoints

When it comes to running a company, when things break down executives have traditionally said “we need to improve our forecasting!” Would better forecasting accuracy be a good thing? Unfortunately, most companies cannot, and will never be able to, consistently rely on highly accurate forecasts. Absolutely! This increases sales.

article thumbnail

Supply Chain Forecasting with AI

ThroughPut

In the ever-evolving landscape of global commerce, businesses face a significant challenge: the pain of inaccurate forecasts and the relentless pace of market conditions. The agitation stems from the financial loss and operational inefficiencies accompanying these inaccurate forecasts. What is Supply Chain Forecasting?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What is Just in Time Manufacturing? Benefits & Disadvantages

Unleashed

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? This system requires accurate demand forecasting and involves receiving goods only as they are needed in the production process.

article thumbnail

Achieving Significant Transportation Savings through Improved Demand Forecasting

Logistics Viewpoints

The implementation also involves leveraging weather data to improve forecasting. Gijs Majoor, vice president of supply chain and sustainable fuels, and Jacob Gladysz, the director of logistics explained the Pinnacle Propane business and their journey to improve their forecasting. Forecasting is harder there. This is also rare.

article thumbnail

Options for inventory planning and forecasting

SYSPRO Smarter ERP

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. Inventory optimization.

article thumbnail

Just Jump

Supply Chain Shaman

At the time, many business leaders did not know how to type and had no idea how to use a computer. Taxonomy of Outside-in Planning Based on the Art of the Possible To accomplish this goal, we need to discard the current crawl, walk, and run models and just jump. During the 1980s, I was on a management team for a large manufacturer.

article thumbnail

Options for inventory planning and forecasting

SYSPRO Smarter ERP

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. Inventory optimization.