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. Let’s face it: the influence of weather on your consumers’ behavior is complex and nuanced, and temperature or precipitation data is easily misinterpreted and misused. How Weather Influences Retail Demand.

Forecasting 156

Forecasting Forecasting Software Procurement Analytics Retail 156

ThroughPut

APRIL 15, 2024

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. AI in supply chain forecasting is a game-changer.

Forecasting 52

Forecasting Forecasting Software Supply Chain Planning Software Modeling 52

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

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

Logility

JUNE 2, 2023

In the intricate world of supply chain management, the accuracy of demand forecasting often serves as the cornerstone of business growth. Yet, despite its significance, demand forecasting continues to be a thorny issue for many businesses, particularly manufacturers. What is Demand Forecasting Accuracy? Let’s get started!

Forecasting 130

Forecasting Modeling Forecasting Software Supply and Demand 130

Logility

SEPTEMBER 9, 2023

The need for more resilient supply chains and better demand forecasting was becoming more essential. With the rise of companies looking to implement AI into their supply chains, more accurate forecasts are within reach. Planners need AI based tools that can overlay ground realities on to historic data.

Forecasting 131

Forecasting Modeling Forecasting Software Supply and Demand 131

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

Logistics Viewpoints

JUNE 8, 2022

It is hard to believe it has been two years since I was faced with forecasting WMS and warehouse automation market growth rates in the midst of the COVID-19 pandemic. These events make accurate forecasting very difficult. I tend to use time series analysis as an anchor to my forecast, as I suspect many of you do.

Forecasting 218

Forecasting Modeling Supply and Demand Scenario Planning 218

Logility

JUNE 7, 2023

Top 3 Demand Forecasting Mistakes —How To Avoid Them with Demand planning software Demand forecasting is a critical facet of successful business operations, acting as the helm guiding companies through the rocks hiding beneath the water of market demands. What is Demand Forecasting?

Supply and Demand 130

Supply and Demand Demand Planning Software Forecasting Software Forecasting 130

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

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

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

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. Greed for more data. Let’s take a closer look at each one.

Forecasting 260

Forecasting Supply and Demand Forecasting Software Modeling 260

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?

Forecasting 157

Forecasting Optimal Sourcing Forecasting Software Modeling 157

Logistics Viewpoints

JUNE 7, 2021

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.

Forecasting 167

Forecasting Forecasting Software Optimal Sourcing Modeling 167

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?

Forecasting 214

Forecasting Forecasting Software Supply and Demand Modeling 214

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

Logility

AUGUST 14, 2020

Forecasting is an “inexact science” that relies on the data available to you, the math you use, and how you implement the forecast. There are libraries full of algorithms that are relatively easy to implement in software, but the math is only as good as the data it’s applied to. Preparing data for analysis.

Forecasting 147

Forecasting Forecasting Software Demand Planning Software Modeling 147

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. Using AI in inventory management.

Forecasting 105

Forecasting Forecasting Software Inventory Reduction Supply Chain Planning Software 105

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

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. On the other hand, machine learning algorithms are automatically updated with new data and continuously retrain their models.

Forecasting 98

Forecasting Forecasting Software Modeling Supply and Demand 98

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

Logility

MARCH 25, 2020

For today’s supply chain planner, the art and especially the science of forecasting demand have evolved. Traditionally, forecasting models were based on time series techniques that create a forecast based on prior sales history. The limitations of time-series forecasting. Here’s one boardroom scenario.

Supply and Demand 187

Supply and Demand Forecasting Modeling Demand Planning Software 187

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. Using AI in inventory management.

Forecasting 98

Forecasting Forecasting Software Inventory Reduction Supply Chain Planning Software 98

SYSPRO Smarter ERP

MARCH 29, 2023

Consequently, organisations were forced to speed up the adoption of digital technologies , especially those offering advanced data analysis and reporting functionalities. Granular consumer data To remain competitive, organisations needed to get closer to the market by collecting consumer data on a granular level.

Forecasting 105

Forecasting Forecasting Software Demand Planning Software Supply and Demand 105

Unleashed

MAY 1, 2023

Demand forecasting has gained increasing importance over the last few years. We met with five supply chain experts to discuss how crucial demand forecasting is for mitigating risk, and what businesses can do to improve forecast accuracy. Our experts explain that best-practice demand planning begins with a top-down forecast.

Forecasting 96

Forecasting Supply and Demand Modeling Forecasting Software 96

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.” These models require a LOT of data. Some promising results.

Forecasting 240

Forecasting Forecasting Software Supply Chain Planning Software Modeling Software 240

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

ThroughPut

MARCH 24, 2024

But with the advent of the information economy and Artificial Intelligence (AI), this process became data-driven. Companies that leveraged the data they collected to enable more accurate demand planning, distinguished themselves from their competitors. Why do you Need Modern Demand Sensing to Solve Modern Problems?

Supply and Demand 52

Supply and Demand Optimal Sourcing Forecasting Modeling 52

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

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. Take a data asset inventory. Data preparation. Exploration of the data.

Forecasting 148

Forecasting Forecasting Software How To Procurement Analytics 148

QAD

JULY 6, 2023

By analyzing historical data, AI can help us understand how customers will react to new products or price changes with greater pattern recognition and better identification of complicated data relationships. AI technology can be used to help with forecasting, supply chain planning and demand planning.

Forecasting 93

Forecasting Supply Chain Planning Software Supply Chain Planning Forecasting Software 93