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.

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ToolsGroup

MARCH 16, 2021

I have been blogging and advocating for the past 15 years on probabilistic approaches to planning and forecasting, and am happy to see in the last few years it has finally started gaining traction and attention. A symptom of a probabilistic plan or forecast is that its results are generally also expressed as probability distributions.

Forecasting 156

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Logility

MAY 18, 2023

How can you use AI to better understand how causal forecasting can help your business? Logility’s own, Chris Mason, shares his opinion and expertise on how business leaders can leverage causal forecasting software to be better prepared for quickly changing demand. Useful but limited.

Forecasting 130

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ShipBob

OCTOBER 24, 2022

Forecasting projections is one of the toughest things to get right. Whether your brand is experiencing gradual sales or is in high-growth mode , we’ll walk you through some tips to improve your ability to forecast demand. Jump to section: What is demand forecasting? Jump to section: What is demand forecasting? Conclusion.

Forecasting 130

Forecasting Forecasting Software Modeling Demand Planning Software 130

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.

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Forecasting Supply Chain Planning Examples Supply and Demand 122

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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ToolsGroup

OCTOBER 16, 2018

An experienced gambler might hedge their bet on multiple outcomes, rather than just the most likely "single number forecast". At ToolsGroup we have been big advocates of probabilistic forecasting (sometimes also known as stochastic forecasting). For example: the horse “Secretariat” will win the Kentucky Derby.

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Forecasting Forecasting Software Supply Chain Planning Software Scenario Planning 189

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.

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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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Arkieva

AUGUST 17, 2021

Having access to an accurate forecast is very beneficial for businesses. How Forecastable is Your Data? If used correctly, it can provide better margins, increase market shares, and many other positive results. was first posted on August 17, 2021 at 8:05 am.

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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. This is also rare.

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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?

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Logistics Viewpoints

MARCH 11, 2020

The current coronavirus outbreak is an example of an economic shock that elevates uncertainty and complicates forecasting. The post Logistics Technology Market Forecasting Under Uncertainty appeared first on Logistics Viewpoints. This analysis provides a useful framework for. This analysis provides a useful framework for.

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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

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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.

Forecasting 260

Forecasting Supply and Demand Forecasting Software Modeling 260

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. And your forecasting success is fundamentally impacted by your understanding of that data, its strengths and limits. How you roll up your data for forecasting fundamentally impacts accuracy.

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Forecasting Forecasting Software Demand Planning Software Modeling 147

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

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

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

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

ToolsGroup

NOVEMBER 13, 2018

Last month we published a primer on probabilistic forecasting , an alternative to deterministic or ‘single number’ forecasting. To understand the relationship between probabilistic forecasting and inventory, view your supply chain as a dynamic system, subject to uncertainty and unpredictable change.

Forecasting 159

Forecasting Forecasting Software Optimization Software Supply Chain Optimization 159

Logility

FEBRUARY 26, 2020

Over my 25+ year supply chain career I have worked for several distribution-intensive companies and every single one of them had a focus on improving forecast accuracy. Achieving a high SKU level forecast accuracy is a top goal for supply chain planning teams regardless of industry, size, location, etc.

Forecasting 162

Forecasting Forecasting Software Optimal Sourcing Supply and Demand 162

DELMIA Quintiq

SEPTEMBER 5, 2019

There is a saying among forecast users: “ If you forecast, you may be wrong; but you will always be wrong if you do not forecast.”. But how much faith are companies willing to place in inaccurate forecasts? But how much faith are companies willing to place in inaccurate forecasts? This is impossible to do manually.

Forecasting 120

Forecasting Forecasting Software Modeling Supply Chain Planning Software 120

Logility

OCTOBER 2, 2018

This is the first of a series of four posts that will explore common forecasting myths. In supply chain the impact of a single error can quickly derail an entire forecast. The first step is to recognize there are several myths surrounding the forecasting process that can lead you down the wrong path.

Forecasting 140

Forecasting Supply and Demand Modeling Demand Planning 140

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

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.” If it is written in PowerPoint, it’s probably AI. —

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New Horizon Supply Chain Blog

SEPTEMBER 18, 2023

Introduction I started to write a “Demand Forecasting 101” article but decided that was going to turn into another Ph.D. This is a list of things that I learned about demand forecasting early in my career – things that would have been nice to know from day one. But this list is agnostic of the particular forecasting technology used.

Forecasting 52

Forecasting Supply and Demand Forecasting Software Modeling 52

ToolsGroup

JUNE 10, 2022

Here’s a look at six customer experience examples to help you maximize long-term customer loyalty. 6 Examples of Excellent Customer Experiences. For example: Lyft announced a strong stance against identity discrimination as part of its hiring policies, and aims to make transportation available to all demographics.

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Customer Service Examples Price Reduction Sourcing Strategies 295

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

Logistics Viewpoints

APRIL 4, 2024

Data Normalization & Removing Bias Data normalization in the context of forecasting is the process of going from actualized sales, which may be biased by various factors such as weather or inventory availability, to an understanding of baseline demand that is stripped of the impacts of these demand drivers.

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GlobalTranz

DECEMBER 22, 2020

The volatility of 2020 and the uncertainties looming into 2021 make it difficult to forecast planning and budgets based on historical data. For example, online shopping will grow faster than expected, and consumer behavior may shift in response to ongoing pandemic-related challenges. Contact GlobalTranz Today.

Forecasting 156

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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

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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

QAD

JULY 6, 2023

AI technology can be used to help with forecasting, supply chain planning and demand planning. As an example, let’s say that you’re a manufacturer that wants to deliver a brand-new product to your area market. It’s clear that AI forecasting can make a huge impact on the supply chain.

Forecasting 93

Forecasting Supply Chain Planning Software Supply Chain Planning Forecasting Software 93

BlueYonder

AUGUST 22, 2023

What Is a Good Forecast? Forecasts are like friends: Trust is the most important factor (you don’t ever want your friends to lie to you), but among your trustable friends, you prefer meeting those that tell you the most interesting stories. We want forecasts to be “good,” “accurate,” and “precise.” But what do we mean by that?

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Forecasting Forecasting Software Quality Predictive Analytics Software 80

ToolsGroup

DECEMBER 12, 2017

Since the beginning of time – OK, since the beginning of demand forecasting the standard approach has been a single number forecast that works relatively well with stable high volume demand. Traditional forecasting tools such as SAP APO, designed 25 years ago or more, generally hold their own in this environment. Under the Hood.

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Logility

JANUARY 14, 2020

Year after year, survey after survey, forecast accuracy continues to be one of the top metrics for measuring supply chain performance. Russell Goodman, editor-in-chief at SupplyChainBrain , sat down with several supply chain leaders to discuss the impact of Forecast Accuracy on driving better decision making.

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