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The Forecasting Accuracy Bugaboo

Logistics Viewpoints

It is important to benchmark forecast accuracy and similar supply chain metrics against your peers. Some suppliers of demand management software can also provide excellent forecast benchmarking for selected industries. Demand models need to be continuously updated. Demand forecasting needs to be an objective process.

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What is Lean Retail (+ Why Retailers Must Embrace It)

ToolsGroup

Examples include: Using sophisticated forecasting and replenishment algorithms to buy and allocate just the right quantity of merchandise, and avoid keeping extra stock on the shelves. Intelligent demand management software is the key technology enabler of lean retail merchandise management. That’s only one example.

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Just Jump

Supply Chain Shaman

Revenue management is siloed and distinct from demand management, while Transportation Management (TMS) has nothing in common with Distribution Requirements Planning (DRP). Lack of aligned metrics. COE will get pulled into day-to-day issues and not able to manage the longer-term issues.

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Ann Grackin: Is the Crisis in Demand Management Being Exacerbated by Spreadsheet Dependency?

Logility

Demand management has always been at the top of supply chain professionals’ list of challenges. And also to note, many respondents in this survey could not demonstrate an alignment of performance metrics to the S&OP process. These are all issues that should be discussed and managed through the S&OP process.

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Insight from Applied Statisticians for Forecasting: Is It Worth the Effort and the Mirage of Random Variation

Arkieva

In this blog, we will illustrate through an example of these potential pitfalls (unanchored, random variation, and narrow metrics) and potential negative impact on a firm. Insight from Applied Statisticians for Forecasting: Is It Worth the Effort and the Mirage of Random Variation was first posted on October 14, 2020 at 8:09 am.

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When The Wheels Fall Off

Supply Chain Shaman

For example, Distribution Requirements Planning (DRP) has very little to do with Transportation Planning (TMS). Revenue Management and Demand Planning do not align on market potential or baseline demand. Make this demand management an operational desktop tool and don’t tie it into traditional IT systems.

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Supply Chain Metrics: Make Sure They Are Aligned with Your Strategy!

Supply Chain View from the Field

Many people are talking about Key Performance Indicators, Metrics, Analytics, and other indicators of performance. The importance of selecting the right metrics or “measures” as I prefer to call them, is critical as we all know that metrics drive behaviors. Step 2 – Develop Metrics and Data Sources.