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? This ultimately improves the quality of the forecasts.

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.

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What Technology are Teams Using to Support Their Demand Forecasting Process?

AIMMS

Part II in our series on assessing your Demand Forecasting process . In Part I of this series , we looked at supply chain professionals’ perception of forecast accuracy and how they see their forecast evolving in the future. review their forecast on a weekly basis. .

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. 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.

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. 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. Many CPG companies are at a loss on what to work on to improve these forecasts.

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.

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.

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.”

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. For example, many collaborative tools depict two independent forecasts on the same screen. Two forecasts?

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.

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

Cerasis

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. . Reshoring Or Not, Let's Get Back to the Basics of What is Manufacturing. What is Manufacturing? These manufacturers are called Subcontractors.

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. What Happens When Forecasts Are Wrong? Forecasts are generally notoriously wrong.

Powering Your Digital Supply Chain: Attribute-Based Forecasting – Part 5

Supply Chain Nation

The trend has arisen as manufacturers and retailers attempt to cater to disparate markets and a wide variety of preferences by offering more choices. This has made reliable demand forecasting even more difficult. Supply Chain Supply Chain Management attribute-based forecasting demand forecasting digital supply chain manufacturing retailToday, across almost every category, products have more features and attributes than those available just a few years ago.

Manufacturing Gains From Machine Learning

IQMS

Improving semiconductor manufacturing yields up to 30%, reducing scrap rates, and optimizing fab operations is achievable with machine learning. Reducing supply chain forecasting errors by 50% and lost sales by 65% with better product availability is achievable with machine learning.

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.

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. . With this more accurate forecast, retailers can improve on-shelf availability, increase sales, reduce days of supply, and decrease overall supply chain costs.

How manufacturers optimize their inventories

ToolsGroup

Editor’s Note: Microsoft’s Colin Masson, Global Industry Director of Manufacturing Solutions (that's him on the left), sat down with me to discuss how manufacturers optimize their inventories. But that’s not the only shift in manufacturing.

Traceability In Food & Beverage Manufacturing is The Cornerstone of Quality

IQMS

Compliance and quality are the foundations all great food & beverage manufacturers rely on to create and strengthen trust with their distribution networks and customers. Traceability Is Key To Excelling At Compliance And Quality for Food & Beverage Manufacturing Companies.

What is Manufacturing ERP?

OptiProERP

What distinguishes Manufacturing ERP from other ERP systems? ERP started in the manufacturing industry, but it headed off in new directions. Manufacturers need all these functions, but they also need so much more. Defining Manufacturing ERP. Manufacturers are different.

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. A forecast is always wrong; what matters is to understand how far wrong it is.

Four Common Challenges Facing The Manufacturing Industry In 2019

IQMS

The manufacturing industry continues to show strong resiliency, shaking off global trade uncertainty, finding ingenious workarounds to its labor crisis, while still innovating new products using design-to-manufacture workflows. Every direct manufacturing job creates an additional 2.5

Why the Forecast for Supply Chain Planning has been Only Partly Cloudy

ToolsGroup

In some cases, doing so actually increases cost and process complexity,” Gartner says in Lessons Learned from Cloud in Manufacturing Industries. Cloud-based supply chain planning is gaining traction.

How manufacturers optimize their inventories

ToolsGroup

Editor’s Note: Microsoft’s Colin Masson, Global Industry Director of Manufacturing Solutions (that's him on the left), sat down with me to discuss how manufacturers optimize their inventories. But that’s not the only shift in manufacturing.

The missing link in automotive contract manufacturing

DELMIA Quintiq

Fulfilling this multi-faceted demand has become a major challenge for car manufacturers, who have to deal not only with countless models and colors but also with an ever-increasing range of features and options. Volatile customer demand can be bridged by making use of contract manufacturers.

6 Manufacturing Trends to Watch Out for in 2016

Cerasis

As we close the year of 2015, we want to take a look at some manufacturing trends for 2016. We look at 6 core areas that manufacturing companies will take a long look at as they gear up for a successful 2016. E-Commerce for Manufacturing. Forecasting Demand.

Transforming the manufacturing supply chain with MEIO

ToolsGroup

Microsoft’s Bill Moffett and I collaborated on an introductory blog on MEIO for manufacturing businesses. On a much larger scale, manufacturers can forfeit working capital by keeping large amounts of inventory on hand to help satisfy wide-ranging customer demand.

High-steaks business planning: Are you meating your forecast?

DELMIA Quintiq

Your planners need to be able to identify and address any gap between forecasted and actual volumes. Meat processing is a complex business: Product margins are tight and external factors including promotions and changing consumer requirements place tremendous pressure on meat manufacturers.

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?

4 Big Benefits for the Use & Implementation of Predictive Analytics In Manufacturing

Cerasis

The predictive analytics of the past are becoming more apt and intellectual, powering a new age in manufacturing. Additionally, major manufacturers are working to prioritize predictive analytics and use them to improve production. Predictive Analytics Will Benefit Manufacturers.

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.

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.

Demand Forecasting Mistakes in the Retail Industry

Alloy

Consumer goods companies rely on forecasts to support inventory planning and distribution across their sales channels. Below, we’ll explore two of the top forecasting errors consumer brands commit, along with suggestions for how to avoid these pitfalls.

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.