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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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.

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.

Probabilistic Planning and Forecasting Demystified

ToolsGroup

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.

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.

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.

Avoid Supply Chain Forecasting Errors

Blue Ridge

Learn where demand forecasting errors come from and how to avoid them with the proper tools. The post Avoid Supply Chain Forecasting Errors appeared first on Blogs, Whitepapers, News & Customer Success Stories from Blue Ridge. Blogs collaboration Demand Forecast Accuracy Demand Forecasting Demand Planning Forecast Error Forecasting Methods Recent

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!

Easily Build an Optimization App and Empower Your Data

Speaker: Gertjan de Lange

Solving complex business problems requires optimization modeling techniques and data to compare scenarios and make the best decisions. With AIMMS you can rapidly build an optimization app on top of your data and deploy it to the end-user in just a few clicks.

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.

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.

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.

Thriving In ‘The New Normal’ With 5 Demand Forecasting Models

ThroughPut

Step Up Demand Planning Efforts with a Robust Forecasting Model . Demand forecasting can be a game changer in today’s volatile environment. AI-driven demand forecasting creates numerous benefits by consuming real-time data and continuously identifying new patterns.

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.

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

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.

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.

Can Improving Forecast Accuracy Address Our Demand Planning Woes?

Logistics Viewpoints

If “the forecast is always wrong,” is improving forecast accuracy even the solution to our demand planning woes? Why bother with forecasting if the model is always wrong? Select software that incorporates these features. A forecast is an input, not a decision.

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.

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.

How to Forecast Demand for your Supply Chain

Blue Ridge

Forecasting demand in the supply chain doesn’t have to be complicated. The post How to Forecast Demand for your Supply Chain appeared first on Blogs, Whitepapers, News & Customer Success Stories from Blue Ridge.

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.

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.

How Data Analytics Can Solve the Challenges Faced by SC Leaders in Discrete Manufacturing

Bringing data-driven intelligence to supply chain increases revenue, reduces costs, and improves the overall performance of any business, especially manufacturing companies where supply chain is the bloodline of their business. Read more!

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.

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.,

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

ToolsGroup Welcomes Pierre Custeau as Chief Technology Officer

ToolsGroup

Montreal-based executive brings extensive experience in AI-driven SaaS technology. BOSTON — Oct 6, 2022 — ToolsGroup , a global leader in AI-driven retail and supply chain planning and optimization software, announces it has appointed Pierre Custeau as Chief Technology Officer. .

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

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.

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

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.

Revisiting Transportation Forecasting

Talking Logistics

Many companies have collaborative planning and forecasting processes with suppliers and manufacturing partners, but very few companies translate demand and production forecasts into transportation capacity requirements. In this episode, Adrian discusses the key challenges and opportunities associated with transportation forecasting. Watch as Adrian discusses: Two key reasons why transportation forecasting has been a challenge to implement.

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?

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.

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.

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).