Untangling the Complexities of Demand Forecasting

ModusLink Corporation

Whether facing a major product launch or compiling standard monthly forecasts, the accuracy of demand forecasts is crucial. The post Untangling the Complexities of Demand Forecasting appeared first on ModusLink Global Solutions. Manufacturing to Market logistics manufacturing supply chain forecasting Demand Planning Demand ForcastNo one understands this as intimately as Apple, who is fresh off of its much-anticipated iPhone X, 8 and 8 Plus product announcements.

Logistics Operations Forecasting- Are you doing it right?

ThroughPut

What is Logistics Forecasting? Logistics demand forecasting is the process of accurately anticipating the demand for products, services, and shipments throughout the supply chain. Why is Logistics Forecasting a Complex Process?

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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 coronavirusARC European analysts Florian Güldner and David Humphrey conducted a thorough scenario analysis on the potential impact of the corona virus on automation markets and supply chains.

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.

Demand Planning & Forecasting During COVID-19 [Webinar]

CHAINalytics

Last month, Chainalytics’ Neelesh Asati moderated a panel discussion on demand planning and forecasting during COVID-19 hosted by Logistics Insider. For supply chain practitioners, or anyone interested in the current supply chain situation in India, these 90 minutes … The post Demand Planning & Forecasting During COVID-19 [Webinar] appeared first on Chainalytics.

Why is Demand Forecasting important for effective Supply Chain Management?

Arkieva

Demand forecasting forms an essential component of the supply chain process. While demand forecasting is undeniably important, it’s also one of the most difficult aspects of supply chain planning. Why is Demand Forecasting important for effective Supply Chain Management? It’s the driver for almost all supply chain related decisions. was first posted on September 18, 2018 at 11:58 am. ©2017

Weather-Influenced Demand Forecasting in 2020

Logistics Viewpoints

It is 2020; we now have reasonably accurate short-term weather forecasts. NOAA, the National Oceanic and Atmospheric Administration in the US, reports that the five-day weather forecasts are approximately 90 percent accurate, 80 percent for the next seven-days, establishing an acceptable level of accuracy for this crucial external input for supply chain planning, especially short-term demand forecasting.

Forecasting in a Shelf-Connected Supply Network

The Network Effect

Today I want to discuss how new approaches to forecasting processes are required in a shelf-connected world. . Focusing on a single view of the consumer for all members of the extended supply chain requires an approach that not only includes retailers, manufacturers, and logistics providers but also requires that they be connected across a multiparty execution backbone. The post Forecasting in a Shelf-Connected Supply Network appeared first on The Network Effect.

Sales Forecasting Unchecked – A Supply Chain Nightmare!

Supply Chain Game Changer

The Planning and Budget cycle within most companies must start with a forecast of future sales and revenue. The Sales and Marketing team is usually responsible for pulling that forecast together. They are likely to pull together several sources of data in order to create that revenue forecast. And to round out their forecast the Sales and Marketing team will have to include some estimates of new, but as yet not closed, business. What Happens When Forecasts Are Wrong?

Market Update: Seasonal Freight Surge and Consumer Forecast

PLS Logistics

So many of the year’s sales occur during the short two-month season, so the logistics process needs to be efficient enough to handle the increase of purchases. The holiday season puts great pressure on supply chains because everyone peaks at the same time,” says NRS vice president of logistics and supply chain solutions.

Your Comprehensive Demand Forecasting Guide

Unleashed

Demand forecasting can support your decision-making process when deciding how much inventory stock is necessary. What is demand forecasting? Essentially, demand forecasting is a strategic process that helps businesses make educated estimations about future customer demand. Demand forecasting provides a wide array of predictive analytics. With these numbers, management can make more informed decisions on how to operate their warehouse and their supply chain logistics.

Improving Forecast Accuracy Through Demand Sensing

Supply Chain @ MIT

Typically, these algorithms only have one or two sources of information (data sets) to derive the forecast for the next period. As the field of business forecasting develops, technological improvements allow companies to experiment with more advanced […].

5 Reasons Why Plant Managers Need Accurate Supply Chain Forecasting

ThroughPut

Supply chain forecasting is a great way to help manufacturers, operations managers and production planners make educated predictions about factors influencing warehouse operations. This includes production elements such as material sourcing, job allocation, transport logistics, production scheduling, inventory optimization and more. Accurate demand-supply forecasting can easily contribute to achieving the most optimum production scheduling on the factory floor.

Importance of Supply Chain Forecasting for Plant Managers

ThroughPut

Supply chain forecasting is a great way to help manufacturers, operations managers and production planners make educated predictions about factors influencing warehouse operations. This includes production elements such as material sourcing, job allocation, transport logistics, production scheduling, inventory optimization and more. Accurate demand-supply forecasting can easily contribute to achieving the most optimum production scheduling on the factory floor.

What’s missing from your demand forecasting?

DELMIA Quintiq

‘We already have sophisticated demand forecasting. While I agree that sophisticated demand forecasting and analytics are necessary, they aren’t sufficient. Many organizations have invested in powerful demand forecasting tools and centralized planning. What they lack is the ability to create plans based on those forecasts and act on them. Forecasts – even those created with advanced tools – are only a means to an end. Logistics must be planned.

How Machine Learning Helps Supply Chain Forecasting

AFFLINK

When paired with the Internet of Things, machine learning can create a truly powerful system for supply chain forecasting. Meanwhile, IoT devices can produce large, accurate data sets from which an organization's forecasting algorithms and tools can learn. When it comes to supply chain forecasting, a prohibitively large amount of data may be collected regarding an organization's processes and equipment.

Gaming Out Your Logistical Response to the Corona Virus

The Smart Software

The post Gaming Out Your Logistical Response to the Corona Virus appeared first on Smart Software.

Top 8 Online Logistics Tools For Logistics Professionals

Cerasis

Logistics professionals require exemplary international online logistics tools to help them carry out their daily businesses with ease and deliver the best for their customers. Let’s base our discussion on online trucking logistics and mobile applications that can be used in supply chain management on a global basis by the logistic professional to control their business. Top 8 Online Logistics Tools For Logistics Professionals. The Logistics mobile app.

Tools 191

Top 7 Benefits of System driven Inventory Projections

Arkieva

Forecasting Inventory Management advantages of demand forecasting advantages of demand forecasting in economics advantages of sales forecasting demand forecasting pdf forecasting in procurement forecasting in supply chain management ppt importance of demand forecasting in logistics strategic importance of forecasting in term of supply chain management

The Top 5 Changes That Occur With AI in Logistics

Cerasis

There’s no other way to describe it: Artificial Intelligence (AI) is revolutionizing the world of logistics. Having a tool for accurate demand forecasting and capacity planning allows companies to be more proactive. Logistics

5 reasons plant managers need supply chain forecasting for better shop floor control

ThroughPut

Supply chain forecasting is a great way to help manufacturers, operations managers and production planners make educated predictions about factors influencing warehouse operations. This includes production elements such as material sourcing, job allocation, transport logistics, production scheduling, inventory optimization and more. Accurate demand-supply forecasting can easily contribute to achieving the most optimum production scheduling on the factory floor.

Forecasting Brexit’s Logistics Implications

APICS

Now, after months of speculating whether or not Brexit could be a reality, the business world is forecasting how Brexit will affect global commerce. Just about a week ago, the world received the news that citizens of the United Kingdom (UK) voted to withdraw from the European Union (EU) by a narrow margin of 4 percentage points. Shortly after the Brexit vote announcement, The Wall Street Journal published an article about how this political move will influence the European supply chain

Near Term Forecasting powered by AI

Logistics Viewpoints

My colleague, Vikram Srinivasan talked about one such new problem in a previous blog post: AI is Changing Everything We Thought About Forecasting Demand. Vik discussed how AI is helping improve demand forecasting with additional data and new algorithms. The post Near Term Forecasting powered by AI appeared first on Logistics Viewpoints.

MIT Center for Transportation & Logistics: Improving Forecast Accuracy through Demand Sensing

Supply Chain 24/7

Students in the MIT Center for Transportation & Logistics’ Master of Supply Chain Management program spent a year mapping a manufacturer’s forecasting process to help determine if Demand Sensing was a worthwhile ambition to pursue

A Complete Breakdown of the 26th State of Logistics Report

Cerasis

On June 23, 2015, the Council of Supply Chain Management Professionals ( CSCMP ) released the “State of Logistics Report,” which happens to be in its 26 th year. This year’s version of the State of Logistics Report revealed that third-party logistics providers ( 3PLs ) and those involved in the supply chain have experienced the greatest gain and economic turnaround since the Great Recession of nearly a decade ago. Growth in Logistics.

Report 260

The What, Why, and How of Transportation Forecasting

Talking Logistics

Many companies have collaborative planning and forecasting processes with suppliers and manufacturing partners, but very few translate demand and production forecasts into transportation capacity requirements. What factors are driving the need for transportation forecasting? Read more The What, Why, and How of Transportation Forecasting. The post The What, Why, and How of Transportation Forecasting appeared first on Talking Logistics with Adrian Gonzalez.

Freight rates forecast to rise 10-20%

EFT

The forecast from business intelligence provider CRU notes that costs are associated with the new fuel blends and fitting scrubbers to ships’ exhausts. Open loop scrubbers cut down on installation and running costs, along with the logistics of carrying and disposing of the waste. Normal. false. false. false. EN-GB. X-NONE. X-NONE. DefSemiHidden="false" DefQFormat="false" DefPriority="99". LatentStyleCount="376">. UnhideWhenUsed="true" QFormat="true" Name="heading 2"/>.

Performance During the Pandemic: A Warehouse and Logistics Update

Logistics Viewpoints

During the process of developing my WMS market forecast, I made assumptions for each quarter of 2020. And indeed, I took into consideration the macroeconomic forecasts for an abysmal Q2 2020. The post Performance During the Pandemic: A Warehouse and Logistics Update appeared first on Logistics Viewpoints.

Supply Chain Planning- The Manufacturer’s Guide for Accurate Planning and Forecasting

ThroughPut

Effective supply chain planning can help answer the following questions and fill gaps accordingly: Are demand and supply forecast numbers accurately updated and shared across all the functions across relevant department heads and key stakeholders? What is supply chain planning?

Ten Business Reasons Why Demand Forecasts Matter

Tompkins Blog

Many people who work in supply chains are familiar with the old saying, “The forecast is always wrong.”. In fact, accurately forecasting customer demand—neither over-forecasting nor under-forecasting—matters in many ways for every manufacturer, wholesale distributor, and retailer. Reasons related to under-forecasting: Customers count on on-time shipments. In the worst case, under-forecasting may cause customers to lose business.

Marketing Supply Chain Solutions Post-COVID: Q&A with ToolsGroup CMO Caroline Proctor

ToolsGroup

Do you expect people’s relationship with logistics to change in the long term due to COVID-19? For those who already worked in logistics, there will also be changes. Blog demand forecasting inventory optimization machine learning supply chain planning

The Reverse Logistics Role in Supply Chain Trends!

Supply Chain Game Changer

What Exactly Is Reverse Logistics? Reverse logistics role article and permission to publish here provided by Kevin Jessop at cerasis.com. As customers continue to shop online the demand on reverse logistics—particularly the process of managing returns—will skyrocket.

Technology and the Changing Nature of Logistics

Enterra Insights

One of the activities within supply chain operations is logistics. The Interlake Mecalux staff explains, “Logistics forms part of the supply chain. … Supply chains are shifting towards a logistics environment that’s faster and more flexible, personalized, accurate, and efficient.” Logistic 4.0 Logistics 4.0 Relying on intelligent logistics. Which data metrics are most relevant to your demand forecasting?

6 Benefits of Applying Useable Data in Logistics For Continuous Improvement

Cerasis

We continue our series on strategic shipping by going into detail of the 10 main areas that shippers can turn to in order to have a strategic logistics and transportation management mindset. Today we will go into detail on using the available data created in the processing of shipments within transportation management and other related logistics management for continuous improvement. . Generating Accurate Forecasts. Cleaning Data in Logistics.

10 Key Logistics & Procurement Supply Chain Practices to Know and Master to Reduce Spend.

Cerasis

However, 48 to 72 hours would be an ideal lead time, reports Steve Raetz of Logistics Viewpoints. Take Advantage of Cloud-Based Analytics for Better Warehouse Management and Forecasting. According to Logistics Management , the majority of participants in a survey on the most impactful aspect of procurement practices over the next decade identified predictive analytics through Big Data. The procurement supply chain also includes the reverse logistics supply chain to an extent.