Arkieva

JUNE 15, 2023

Our latest webinar examines the varying definitions of machine learning and artificial intelligence while discussing how they can be leveraged to improve your statistical forecast. How to Improve Your Statistical Forecast Using Machine Learning was first posted on June 15, 2023 at 8:11 am.

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Forecasting How To Supply Chain Planning Supply and Demand 78

Logility

JUNE 7, 2023

Top 3 Demand Forecasting Mistakes —How To Avoid Them with Demand planning software Demand forecasting is a critical facet of successful business operations, acting as the helm guiding companies through the rocks hiding beneath the water of market demands. What is Demand Forecasting?

Supply and Demand 130

Supply and Demand Demand Planning Software Forecasting Software Forecasting 130

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. Image source: Stefan de Kok.

Inventory Reduction 156

Inventory Reduction Waste Reduction Resource Reduction Cost Reduction Strategies 156

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.

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Forecasting Forecasting Software Modeling Demand Planning Software 130

The Smart Software

APRIL 17, 2023

What do you do when you are forecasting an intermittently demanded item, such as a spare part, with an average demand of less than one unit per month? Most of the time, the demand is zero, but the part is significant in a business sense; it can’t be ignored and must be forecasted to be sure you have adequate stock.

Forecasting 74

Forecasting Forecasting Software How To Supply and Demand 74

Arkieva

JANUARY 26, 2021

Some time ago, I had been trying to help a business improve its statistical forecasting. We tried different parameters and different forecasting algorithms but the statistical forecast for about half of the products could not be improved no matter what we tried. We decided to do a deep dive to understand the reason.

Supply and Demand 157

Supply and Demand Forecasting Demand Planning Supply Chain Strategy 157

Logility

APRIL 21, 2023

Now that businesses have better access to predictive forecasting technologies that leverage data from the past and present, such a one-sided approach to forecasting, analytics, reporting, and planning is no longer justifiable. That specificity of understanding, in turn, leads to better decisions on how to respond to disruptions.

Forecasting 130

Forecasting Forecasting Software Supply Chain Planning Software Big Data 130

Logility

APRIL 23, 2020

So, the promise of using statistical algorithms, forecasting and predictive analytics is now added to the list of a company’s number one priorities. Here are a few steps that you will need to take to deploy your forecasts successfully. Models are useless unless users know how to use them correctly. One may ask, “What’s next?”

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Forecasting Forecasting Software How To Procurement Analytics 148

Arkieva

AUGUST 25, 2021

Learn the best approach to setting forecast accuracy targets and how to set expectations for your management team. An Approach to Setting Forecast Accuracy Targets was first posted on August 25, 2021 at 8:38 am. ©2017 " Supply Chain Link Blog - Arkieva " Use of this feed is for personal non-commercial use only.

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Forecasting How To Supply Chain Planning Supply and Demand 143

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?

Forecasting 157

Forecasting Optimal Sourcing Forecasting Software Modeling 157

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?

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Forecasting Forecasting Software Modeling Demand Planning Software 52

Arkieva

OCTOBER 25, 2021

Our focus in this blog series has been to establish forecast accuracy targets. In very general terms, the goal should be to add value to the business through the forecasting process. We have however focused on the forecast value add and using that to create a minimum acceptable forecast accuracy target in the previous blog.

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Forecasting Data Supply and Demand Supply Chain Planning 138

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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Forecasting Forecasting Software Optimal Sourcing Modeling 167

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. It seems as if everyone is looking to improve their forecasting performance. How much can you realistically expect to improve your forecast accuracy each year?

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Forecasting Forecasting Software Supply and Demand Modeling 214

Demand Solutions

MAY 18, 2020

Yet, most businesses do not know how to do this correctly. If you’re a retailer, then you’re likely selling thousands of SKUs, making it hard just to collect data on them let alone analyze it in order to forecast demand ! There are things retail businesses can do to make sure that their demand is adequately forecasted.

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Forecasting Forecasting Software Demand Planning Software Modeling 100

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.

Forecasting 147

Forecasting Forecasting Software Demand Planning Software Modeling 147

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?

Supply and Demand 52

Supply and Demand Forecasting Forecasting Software Demand Planning Software 52

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? Demand is not what you shipped in the past.

Forecasting 156

Forecasting Modeling Forecasting Software Inventory Reduction 156

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

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

Arkieva

AUGUST 31, 2021

The cycle stock is the one most connected to the demand forecast; it is expected to be sold as the forecast becomes real demand. As such, it is not always linked to forecasting accuracy. Relationship Between Forecast Accuracy and Safety Stocks was first posted on August 31, 2021 at 8:31 am.

Forecasting 105

Forecasting Supply and Demand Supply Chain Planning Inventory 105

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

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. There must be an element of realism.”

Forecasting 96

Forecasting Supply and Demand Modeling Forecasting Software 96

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

FEBRUARY 21, 2018

Eight years ago ToolsGroup was one of the first supply chain planning software vendors to employ machine learning to improve demand forecasting. Even in 2014 when Gartner wrote a case study about Danone using our machine learning to help forecast promotions, it was barely a blip on the horizon. Machine learning has certain strengths.

Forecasting 219

Forecasting Forecasting Software Demand Planning Software Supply and Demand 219

ToolsGroup

OCTOBER 14, 2020

Supply Chain Forecast | Inventory to improve forecast accuracy and customer service levels, while reducing investment in stock. The tool is designed to help businesses grow by moving beyond spreadsheet-based forecasting and trial-and-error inventory management. Microsoft Azure customers worldwide now gain access to ToolsGroup ?Supply

Forecasting Software 156

Forecasting Software Forecasting Supply Chain Planning Software Supply Chain Design Software 156

Arkieva

OCTOBER 6, 2021

It is important to measure and improve the forecast accuracy at the right level of aggregation. If you measure at too high a level, your accuracy picture will look better than what it needs to be as the data at high (aggregated) levels is more forecastable. By contrast, at too low a level.

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Forecasting Report Supply Chain Planning Supply and Demand 97

QAD

JULY 6, 2023

This helps us make better decisions about what products should be made, where they should be produced, and how fast they need to move through the supply chain. So, how exactly is AI being used? AI technology can be used to help with forecasting, supply chain planning and demand planning. appeared first on QAD Blog.

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Forecasting Supply Chain Planning Software Supply Chain Planning Forecasting Software 93

Alloy

SEPTEMBER 15, 2021

Note: in this article, we’ll be referring to your forecasts as forecasts and your retailers’ forecasts as supply plans. You’ll quickly learn that it’s on you to make sure that their supply plan is in-line with your expectations based on historical data, market trends and your own forecasts.

Forecasting 96

Forecasting Supply Chain Planning Software Forecasting Software Scenario Planning 96

Arkieva

MARCH 19, 2019

Stop using traditional forecast accuracy metrics to measure forecast for sporadic demand patterns. How to Measure Forecast Errors in Intermittent Demand Forecasting was first posted on March 19, 2019 at 12:19 pm. Use this method instead.

Forecasting 69

Forecasting Supply and Demand How To Metrics 69

SYSPRO Smarter ERP

NOVEMBER 30, 2021

A Better Way to Forecast. Manufacturers can use forecasting to support inventory optimization. Gone are the days where you solely had to rely on your sales team creating wishful thinking forecasts. You can even use comparable existing product history as a starting point to model a forecast for a new product.

Forecasting 105

Forecasting Forecasting Software Inventory Management Software Supply Chain Planning Software 105

The Smart Software

FEBRUARY 12, 2023

In this webinar, Erik Subatis, Enterprise Solution Engineer at Smart Software, will reveal the statistical models Epicor Smart IP&O uses to forecast and how the automatic “best pick” system works. The post How to Select the Right Forecasting Method with Epicor Smart IPO appeared first on Smart Software.

Forecasting 52

Forecasting Forecasting Software Modeling Software How To 52

New Horizon Supply Chain Blog

AUGUST 30, 2023

Introduction I was recently in a conversation about forecasting with a client team, and one individual, whose background was not in supply chain, asked what the value of demand forecasting is. The answer may seem obvious to supply chain professionals, but it’s worth taking a step back and thinking about how to answer this.

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Forecasting Supply and Demand Material Savings Inventory Reduction 52

Supply Chain Shaman

MARCH 21, 2024

At the time, many business leaders did not know how to type and had no idea how to use a computer. In my first classes, I taught the group how to speak the language of demand—forecastability, Forecast Value Added (FVA), backcasting, demand and market latency, and market drivers. How to Drive Success?

Inventory Reduction 389

Inventory Reduction Supply Chain Planning Software Cost Reduction Strategies Supply Chain Design Software 389