2022 Forecast: Supply Chains Become Critical Infrastructure

ToolsGroup

The good news: we have the technology to solve this now. We have the technology today to build critical infrastructure for a global end-to-end (from raw materials to the consumer) supply chain. Eventually, blockchain will become a key part of the open supply chain platform.

Understanding ‘Forecastability’ and How to Generate Better Forecasts

CHAINalytics

Getting better statistical forecasts involves choosing the right technology, applying multiple forecast optimisation techniques, and a continuous improvement approach.

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Causal Forecasting Brings Precision to your Forecasting

Logility

Causal f orecasting shines a light on , and isolates, actual demand signals from market “chatter,” thus improving forecast quality. What Exactly Is Causal Forecasting? . First, what it’s not is a replacement for demand forecasting.

Simplifying Probabilistic Forecasting

ToolsGroup

In episode nine of Be Ready for Anything, supply chain expert Stefan de Kok breaks down the basics of probabilistic forecasting. I’m your host, Mary Vasile, and today I’m delighted to welcome Stefan de Kok who is going to shed some light on probabilistic forecasting.

How is Demand Forecasting changing? How do you compare to your peers?

AIMMS conducted research to assess how supply chain teams perceive the accuracy of their forecast and discover the tools and techniques they are using to upgrade the forecasting process. In this report, you will find helpful benchmarks and insights offered by your peers on the latest demand forecasting techniques, forecast granularity and periodicity, and expectations for the future.

Get Started Using Machine Learning for New Product Forecasting

ToolsGroup

Adding to this already uphill battle, we don’t have trustworthy new product forecasting methods because forecasting new products with no sales data is very hit-and-miss. Machine learning (ML) provides an effective weapon for your new product forecasting arsenal.

Melitta: Collaborating for an Improved Forecasting Process

ToolsGroup

Melitta Sales Europe (MSE) embarked on an initiative to revamp existing planning and forecasting processes to increase efficiency and sustainability. The tool also needed to accommodate configurable workflows and automatically detect demand exceptions or outliers.

Future-proof and boost your business with a software-driven supply chain

Supply Chain Movement

Accurate and demand-driven forecasting has never been more important than in the past two years. The supply chain planning software of Blue Ridge does exactly that. In short: digital tools improve your operations, so do embrace them!

Five Advanced Technologies That Are Revolutionizing Logistics

Logistics Viewpoints

If there’s a bright spot anywhere it’s the fact that, as logistics challenges have grown, so has the availability of advanced technologies to manage these challenges. We wanted to see inventory positions around the world compared to our forecast, compared to our actual demand.

Weather Permitting: How to Use Weather Data in Retail Forecasting

ToolsGroup

Despite knowing all this, too many retailers ignore the impact of weather and this adds error to plans and demand forecasts. Using weather data for retail forecasting starts with measuring the impact of weather for specific items, time period, and locations. Retail is detail.

5 Perceptions on Demand Forecasting and How it's Changing

Speaker: Brian Dooley, Director SC Navigator, AIMMS

It’s no secret that demand is getting more difficult to predict. Is your demand forecasting process evolving with the times? How does your process stack up against others? Are you satisfied with your level of forecast accuracy? This webinar shares research findings from a recent survey among supply chain planning professionals to help you answer these questions.

Probabilistic Forecasting - a Primer

ToolsGroup

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). Understanding and employing this relatively simple principle can take your forecasting and supply chain planning from ‘good to great’. In this case, forecasting 100 units is a pretty safe bet.

SaaS Diffusion and the Improvement of Business Capabilities

QAD

Have you jumped into the deep end of SaaS yet? Well, the same research that identified links between SaaS diffusion and agility, also identified a relationship between SaaS diffusion and the improvement of firm capabilities, like organizational learning and focusing on your core competencies.

Forecasting Over the Product Life Cycle

ToolsGroup

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. New data sources and machine learning automation are also making improvements to forecasting the product life cycle.

Machine Learning and AI: Profiling Demand History – A Wiser Forecasting

Arkieva

In the simple version of supply chain management (SCM) the goal for demand forecasting in the tactical decision tier is prediction accuracy. Machine Learning and AI: Profiling Demand History – A Wiser Forecasting was first posted on August 5, 2020 at 8:11 am. ©2017

4 Reasons to Break Up With Excel and Move to Digital Supply Chain Planning

Trust your supply chain forecasts: adopt a predictive intelligence platform to outperform your supply chain goals, overcome challenges of spreadsheet-based planning, reduce risks, enhance customer satisfaction, and improve the bottom line.

Rail Roundup: Tech tools to locate railcars, forecast port volumes

The Supply Chain Journal

Here are two initiatives announced in July: Nexxiot and TransRail Innovation Group to roll out railcar locator technology in North America. Nexxiot is a supply chain data analytics firm and TRIG produces technology hardware for rail freight operators.

Warehouse Management Systems (WMS): Growth Accelerated in 2021

Logistics Viewpoints

I just completed the data gathering process for ARC’s global Warehouse Management Systems (WMS) market research study. Although I have not yet completed the market forecast, I certainly have a good feel for what the WMS market experienced in 2021. IT Platforms.

Power of Forecasting

20Cube Logistics

Steps in Implementing Successful Data Analysis into Company System. Collection of Data: The very first steps in forecasting and meting out prescriptive measures are the collection of data and setting achievable KPIs. The post Power of Forecasting appeared first on 20Cube Logistics.

For Distributors, Mitigating Supply Uncertainty Begins with a Better Forecast

ToolsGroup

Accurate forecasting of uncertain demand. Demand modeling systems look at the specific factors driving demand at a granular and daily level for individual SKU-Locations. It goes beyond the “demand forecast number” to the probability of demand in any given time period.

Success Strategies for Demand Forecasting in Supply Chain

ToolsGroup

There’s been a lot of change in how we view supply chain demand forecasting: we moved from a focus on supply—what and how much to supply or replenish—to the demand-driven supply chain, which placed too much emphasis on the intermediate goal of an accurate demand forecast.

Turn a Good Demand Forecast into the Optimum Inventory Plan

ToolsGroup

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? About 15 years ago, many forecasting solutions turned to multi-echelon optimization.

Probabilistic Forecasting: Right Fit for Your Business?

Supply Chain Shaman

In the design of planning systems, it is important to think through the elements. A Closer Look at Forecasting. Traditionally companies forecast using history (shipments or orders) and applying linear regression to understand the patterns of historical demand using these to estimate future requirements in a time-series format. Traditional forecasting methods, as a result, do not work very well to predict future forecasts. Understanding Probabilistic Forecasting.

Deacom Releases New Forecasting Tools for Manufacturers

Supply Chain Brain

a developer of a comprehensive Enterprise Resource Planning (ERP) solution, has released new forecasting methods to help manufacturers make stronger business predictions within a single ERP system Deacom, Inc.,

Dreaming about accurate forecasts?

DELMIA Quintiq

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? Many companies use demand forecasts that are based solely on historical data. However, these forecasts are less effective in a volatile global market facing sociopolitical challenges, such as trade wars and Brexit.

Improve Forecast Quality and Reliability with Value-add Forecasting (Part 1)

Logility

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. value-add forecasting today.

Logistics Technology Market Forecasting Under Uncertainty

Logistics Viewpoints

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. Statistics business forecasting coronavirus

Tools of the Trade: How “Forecastable” is Your Data? Complexity Exists Whether You Ignore It or Not

Arkieva

These “key tools” balance a need for simple with a need to handle the complexity of SCM – following the IBM adage – complexity exists whether you ignore it or not, best not to ignore it. Tools of the Trade: How “Forecastable” is Your Data?

Meet Demands For Supermarkets With AI-Driven Demand Forecasting

ThroughPut

When demand can be anticipated with accuracy, it can be delivered efficiently with demand forecasting techniques. . Therefore, it is essential to switch to a supply chain model that acts on the forecasted demand to cut down wastages, enhance viability and eliminate bottlenecks.

A Primer on Probabilistic Forecasting

The Smart Software

If you keep up with the news about supply chain analytics, you are more frequently encountering the phrase “probabilistic forecasting.” Probabilistic forecasts have the ability to simulate future values that aren’t anchored to the past.

Probabilistic Forecasting and Confidence Intervals

Arkieva

Probabilistic Forecasting and Confidence Intervals was first posted on September 27, 2019 at 11:18 am. ©2017 Historically, most of the key planning and computational activities (models, time series, machine learning, and other analytics) that support extended supply chain management (SCM) are “deterministic models”. ©2017 " Supply Chain Link Blog - Arkieva " Use of this feed is for personal non-commercial use only.

What’s Your Forecast Accuracy Target for 2017?

ToolsGroup

In 2016, it seemed as if everyone in supply chain was looking to improve their forecasting performance. Companies sought to implement (or re-implement) planning technology solutions, tune and optimize methodologies towards tighter variances, and integrate more accurate information into their planning processes. How much can you realistically expect to improve your forecast accuracy each year? Forecasting Demand and Analytics

What’s Your Forecast Accuracy Target for 2019?

ToolsGroup

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. Many companies have already started their 2019 planning and budgeting cycles, so if you are in charge of demand forecasting for your company, it’s about time to thinking about your organization's 2019 goals. It seems as if everyone is looking to improve their forecasting performance. Forecasting Demand and Analytics

Inventory Forecasting Explained: The 2022 Guide

Unleashed

A crystal ball sometimes wouldn’t go amiss in inventory forecasting. But in the absence of a magical tool, your best bet is to manage your stock by using industry techniques and technology. Techniques for 2021 What is inventory forecasting?

Business Forecasting Lessons From Hurricanes

Arkieva

With each storm, there comes a bevy of forecasts put out by different computer models. These forecasts begin about 10 days out and change as the storm gets closer and closer. This blog tries to extract some learnings from this process of forecasting. Business Forecasting Lessons From Hurricanes was first posted on September 11, 2019 at 10:09 am. ©2017 ©2017 " Supply Chain Link Blog - Arkieva " Use of this feed is for personal non-commercial use only.

Forecasting: Let’s Start by Asking the Right Questions

Supply Chain Shaman

” They then list a combination of Anaplan, Aera Technology, E2open, JDA, Kinaxis, Logility, o9, and OM Partners. ” Then a young consultant from one of the large technology firms usually chimes in. RFPs and powerpoint presentations are the worst way to buy decision support technologies like supply chain planning. This is especially true for forecasting. I find that too many companies try to buy forecasting software through a Request For Proposal (RFP).