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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. MORE
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. MORE
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. MORE
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. MORE
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. MORE
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 MORE
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. MORE
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. MORE
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. MORE
Getting better statistical forecasts involves choosing the right technology, applying multiple forecast optimisation techniques, and a continuous improvement approach. MORE
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. MORE
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. MORE
” 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). MORE
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. MORE
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? MORE
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. MORE
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. MORE
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. MORE
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. MORE
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. MORE
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! MORE
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 MORE
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. MORE
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. Time is horizontal, forecast quantity vertical. MORE
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. MORE
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 MORE
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. MORE
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 MORE
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. MORE
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? MORE
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. MORE
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. MORE
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. MORE
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., MORE
Forecasting Software Related Topics ToolsGroup
FEBRUARY 2, 2022
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.
CHAINalytics
DECEMBER 7, 2021
Getting better statistical forecasts involves choosing the right technology, applying multiple forecast optimisation techniques, and a continuous improvement approach.
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Logility
NOVEMBER 13, 2020
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.
ToolsGroup
MAY 4, 2021
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.
Advertisement
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.
ToolsGroup
JUNE 29, 2020
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.
ToolsGroup
NOVEMBER 2, 2020
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.
Supply Chain Movement
MARCH 16, 2022
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!
Logistics Viewpoints
MARCH 31, 2022
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.
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. Using weather data for retail forecasting starts with measuring the impact of weather for specific items, time period, and locations. Retail is detail.
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.
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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). 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.
QAD
MARCH 10, 2022
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.
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. New data sources and machine learning automation are also making improvements to forecasting the product life cycle.
Arkieva
AUGUST 5, 2020
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
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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.
The Supply Chain Journal
JULY 26, 2021
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.
Logistics Viewpoints
APRIL 27, 2022
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.
20Cube Logistics
JANUARY 22, 2022
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.
ToolsGroup
JUNE 17, 2021
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.
ToolsGroup
DECEMBER 2, 2021
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.
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? About 15 years ago, many forecasting solutions turned to multi-echelon optimization.
Supply Chain Shaman
OCTOBER 25, 2017
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.
Supply Chain Brain
AUGUST 11, 2021
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.,
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? 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.
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. value-add forecasting today.
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. Statistics business forecasting coronavirus
Arkieva
NOVEMBER 9, 2021
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?
ThroughPut
SEPTEMBER 16, 2021
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.
The Smart Software
MARCH 3, 2021
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.
Arkieva
SEPTEMBER 27, 2019
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.
ToolsGroup
NOVEMBER 15, 2016
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
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. 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
Unleashed
AUGUST 23, 2021
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?
Arkieva
SEPTEMBER 11, 2019
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.
Supply Chain Shaman
MAY 1, 2018
” 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).
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