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Demand Forecasting Software: Demystifying AI

Logility

Demand forecasting plays a crucial role in business success, as it helps predict customer demand and plan inventory effectively. However, traditional forecasting methods often fall short in accuracy. With the advent of artificial intelligence, demand forecasting has undergone a significant transformation.”

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What Is PPV? Purchase Price Variance Explained

Precoro

However, only 30% of CPOs claim they have achieved their cost-saving targets in 2023. One of the ways that procurement teams improve this figure is by tracking and improving the purchase price variance (PPV) metric. Why Is Purchase Price Variance Important?

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How ThroughPut AI’s Decision Intelligence Enhances Pricing & Promotion Strategies in the F&B Industry?

ThroughPut

Here’s the thing about the Food & Beverages (F&B) industry: Pricing your products isn’t just about covering costs and achieving target profits. In such a dynamic environment, a fixed pricing strategy simply won’t suffice. This is where dynamic pricing and promotion come into play.

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7 Essential Procurement Processes & How They Work

Unleashed

The procurement processes you implement directly impact how efficiently the business operates. Conversely, the consequences can be disastrous if procurement lacks the right structure or planning. What is a procurement process? Strategy is extremely important in the procurement process. Let’s dive right in.

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Top 5 KPIs for Purchasing Managers

Precoro

The purchasing department plays a critical role in the success of an organization. Thought-out practices and well-managed workflows within the purchasing department are crucial for making sure that the company has the necessary resources available at the right time and at a reasonable cost.

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The Forecasting Accuracy Bugaboo

Logistics Viewpoints

Solvoyo’s Solution Bugaboo: something that causes fear or distress out of proportion to its importance. When it comes to running a company, when things break down executives have traditionally said “we need to improve our forecasting!” Would better forecasting accuracy be a good thing? Absolutely!

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Crafting a Procurement Management Plan to Mitigate the Impacts of Inflation

Precoro

Escalating expenses associated with rising prices of raw materials, finished goods, third-party services, and labor along the entire supply chain expose businesses to a heightened threat of margin reduction. In this article, we will discuss how a robust procurement management plan can help address and mitigate the effects of inflation.