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. MSE’s prioritization of its close internal collaboration strengthens the precision of its forecasts, ensuring a more robust S&OP process.

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. In this blog we will share machine learning techniques that can produce fully-automated forecasts for new products. Why is new product forecasting important? Overall reasonably accurate forecasts.

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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.

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.

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 Forcast

Realizing the Value of Supply Chain Optimization for Tire Manufacturing

DELMIA Quintiq

New technologies revolutionizing transportation are creating tremendous opportunities but also unprecedented challenges for tire manufacturers. Leveraging DELMIA’s planning solution, powered by the 3D EXPERIENCE platform, tire manufacturers can realize these benefits: Long-term benefits.

Four Steps to Better Demand Forecasting

Logility

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. By manufacturer or brand.

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.

Why probabilistic forecasting is better for inventory optimization

ToolsGroup

Last month we published a primer on probabilistic forecasting , an alternative to deterministic or ‘single number’ forecasting. In this post we’ll explore how probabilistic forecasting not only creates better forecasts, but also improves inventory optimization by improving the stock levels at store and warehouse locations in your distribution network. Spreadsheets and legacy suites like SAP APO produce top-down aggregated forecasts using a deterministic approach.

Using Weather and Climate Data to Improve Demand Forecasting

ToolsGroup

Editor's Note: This is the second in a three part series on advanced demand analytics to improve demand forecasting. Demand forecasting software can usually factor in climate and seasonality , like more ice cream being sold during summer months or in warmer climates. But forecasting demand for weather-dependent goods can be challenging because it can be more difficult to predict. But that’s the granular level you need to forecast for supply chain planning.

Simplify Supply Chain Forecasting

Logility

Is 100% forecast accuracy attainable? Anyone that has ever had to forecast demand for products or services knows that obtaining a consistently high forecast accuracy is part science and part magic. Minimizing forecast error requires a background in data analysis and statistics while also having a solid understanding of the products, markets and customers you are trying to predict demand for. Clearly, forecast accuracy is very important.

Why CPG Demand Forecasting Has Hit a Ceiling

ToolsGroup

Most CPG companies have hit a demand forecasting ceiling. And complexity creates a challenge of how to forecast accurately when faced with new items, new channels and demand shaping. Recent evidence strongly suggests that traditional forecasting techniques in this environment have reached their limits and hit a ceiling. Across the CPG industry, demand forecast errors increased in 2014 and were unchanged in 2015, according to Gartner analyst Steve Steutermann.

Forecasting the Long Tail and Intermittent Demand

ToolsGroup

Forecasting demand in the long tail is much different than in the head. Companies are dealing with more slow moving items with unpredictable demand patterns, which is making demand forecasting and inventory management more difficult. The solution is not forecast accuracy. This “intrinsic variability” caused by low order frequency has very little to do with forecast accuracy. the forecast is quite accurate overall. Forecasting long tail demand.

It’s Time to Connect Manufacturers and Suppliers within the Value Network

DELMIA Quintiq

A manufacturer’s operations are constantly exposed to the risk of inconsistent supply. Upheavals in one country can heavily impact manufacturers worldwide, too. Manufacturers realized that they had no backup plans for the production of components critical to their operations. To avoid throttling or temporarily shutting down production plants in the event of a massive disruption, manufacturers need to strengthen relationships within their global sub-tier supplier networks.

Increased Demand Forecasting and Production Planning Efficiency for Leading CPG Manufacturer

CHAINalytics

Chainalytics recently worked with a personal care brand manufacturer to improve its demand forecasting and production planning processes which helped reduce rising backorders, restore customer service levels, and maintain growth. Rising backorders and falling customer service levels threatened to diminish … The post Increased Demand Forecasting and Production Planning Efficiency for Leading CPG Manufacturer appeared first on Chainalytics.

The Remedy for Inefficiencies in Contract Manufacturing

QAD

Our health care industry depends on the pharmaceutical and medical device industries, and they, in turn, depend on contract manufacturing organizations (CMOs) for their outsourced manufacturing. Optimized Digital Manufacturing. Contract Manufacturing Supply Chain Continuity.

Sugar Beet Shortages Could Impact Food and Beverage Manufacturing

QAD

How Do Beet Sugar Shortages Affect Food and Beverage Manufacturers? A great deal of beet sugar is used in food and beverage manufacturing. And this decline is impacting food and beverage manufacturing. But the decline in sugar beet production, as well as increased prices of cane sugar, is having an effect on food and beverage manufacturing. What Can Food Manufacturers Do During an Ingredient Shortage? Improve Finished Product Forecasting.

A shift in philosophy: basketball and your demand forecast

The Network Effect

Efforts like ECR and Collaborative Planning Forecasting & Replenishment (CPFR) are primarily focused on reviewing and reconciling the outputs of each organizations plans. In CPFR, a retailer and manufacturer develop individual plans and then spend considerable time, effort and cost in attempting to reconcile these plans. For example, many collaborative tools depict two independent forecasts on the same screen. Each forecast derived by the respective organizations.

Demand Forecasting for the CPG Industry

Vanguard Software

In today’s globalized and digital world, modern demand forecasting tools have never been more essential for a CPG manufacture to succeed. CPG Demand Planning Supply Chain

Tools 56

Demand Forecast: Constrained or Unconstrained?

Unleashed

An unconstrained demand forecast might seem over optimistic, but for a business to take full advantage of market growth opportunities it is essential to dream big. Particularly for companies using online inventory management systems, it’s easy to create both constrained and unconstrained demand forecasts that each represent valuable snapshots of what your business is, and what your business could be. What is a constrained forecast? What is an unconstrained forecast?

Powering Your Digital Supply Chain: Forecasting Returns

Supply Chain Nation

This creates an interesting problem for both retailers and manufacturers that sell online: in addition to predicting a customer’s original order, manufacturers and retailers need to be able to forecast expected returns. Streamlined returns management starts with an advanced ability to forecast returns, which is not an easy problem to solve. Have you ever ordered something online and then decided to return it? You’re not alone.

Church & Dwight Improves Forecasting

Supply Chain Movement

Church & Dwight Co, a manufacturer of household and personal care products, has selected Terra Technology’s Demand Sensing and Multi-Enterprise Inventory Optimization to lower inventory while ensuring high service levels. Church & Dwight chose Terra after a successful pilot demonstrated a significant improvement in forecast accuracy, enabling the company to better predict and respond to consumer demand.

Reshoring Or Not, What is Manufacturing? 4 Questions to Ponder with Real American Manufacturers

Cerasis

Editor's Note: This is a two part series featuring Chuck Intrieri, who along with providing excellent insights over at his industry leading The Lean Supply Chain blog, is also a consultant who works with companies for Cost Reduction, Supply Chain Optimization, Logistics, Manufacturing, and 3PL Selection. We recommend you get in touch with him if you'd like an expert to guide you to the next level in your manufacturing business. . What is Manufacturing?

Longer Lead Times Forecasted: Don’t Get Caught Behind The Curve

AB&R

Longer Lead Times Forecasted. The post Longer Lead Times Forecasted: Don’t Get Caught Behind The Curve appeared first on AB&R. Blog Company News Manufacturing Transportation & Logistics customer service inventory labels manufacturing productivity

Demand Forecasting: A Must for the CPG Industry

crisp

For as long as the industry has been around, using forecasts and predictions to help inform decisions has been a staple. Now, in today’s globalized and digital age, modern demand forecasting has never been more critical and essential for a CPG manufacturer’s success. ForecastingCompetition. Consumer demand. Global supply chains. Adapting to change.

Get your demand planning and forecasting game on

Kinaxis

The only way to do that is to have processes and technology that enable critical demand planning functionality like: Forecasting : Stop chasing that perfect score. Instead, work to improve your forecasting by using a complete, accurate data set that includes information from across the organization – sales, marketing, finance, etc. Then decide how to segment, basing your decision on factors like product complexity, market demands, manufacturing process or risk.

The Growing Reliance on Traceability in Manufacturing Supply Chains

IQMS

Bottom Line: The heightened priority on health & safety is leading to a renaissance of traceability in manufacturing across many industry sectors as every business strives to keep its employees, customers, and suppliers safe. Reliance on Traceability in Manufacturing Is Growing.

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.

The Complete Guide To Calculating Total Manufacturing Costs

Unleashed

To calculate total manufacturing cost you add together three different cost categories: the costs of direct materials, direct labour and manufacturing overheads. Expressed as a formula, that’s: Total manufacturing cost = Direct materials + Direct labour + Manufacturing overheads.

Overcome Manufacturing Supply Chain Challenges with Digital Planning

ToolsGroup

The manufacturing industry has a strong heritage of adopting game-changing technologies to deliver higher quality products more efficiently. In a recent KPMG study, 69% of manufacturing CEOs say acting with agility is “the new currency of business; if we’re too slow, we will be bankrupt.” As supply chain complexity and competition escalate, so do related manufacturing challenges. Cited: 2018 KPMG Global Manufacturing Outlook study.

4 Key Trends to Watch in Smart Manufacturing and Supply Chain

Cerasis

The advancements in 3D printing and 'Additive Manufacturing,' coupled with supply chain efficiencies, could make distributed manufacturing a reality, ushering in the era of smart manufacturing. The Continual Coverage and Now Reality of Smart Manufacturing with 3D Printing. I remember reading an MIT paper on manufacturing technology trends a couple of years ago. It had a fascinating mention of " Additive Manufacturing " (AM) and how it could be a game changer.

Improve Your Inventory Control with Demand Forecasting

Unleashed

Demand forecasting and planning sounds like a complex task requiring input from a team of accountants and economists but, in reality, it’s an easy way to improve your inventory control. In simple terms, demand forecasting uses supply chain information to plan the levels of stock needed to meet expected demand which gives greater inventory control to the supplier. Why forecast demand? Strengthening supplier relationships with demand forecasting.

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?

Sennheiser’s five wisdoms about forecasting

Supply Chain Movement

Sennheiser has discovered that the large majority of its products can be forecast accurately based on statistics, which enables the company to direct its attention towards the critical products. over the past year we’ve integrated our forecasting process with the financial planning,” said Ulf Gerkens, head of supply chain planning at the german manufacturer of audio equipment. A forecast is always wrong; what matters is to understand how far wrong it is.

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? Are you Forecasting Logistics Accurately?