Expert insights. Personalized for you.
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. MORE
Our 2020 Freight Shipping Outlook series comes to a close with a forecast of what FreightCenter customers can expect in the new year. To keep it simple, we’ll break down the freight shipping forecast into the three most significant freight shipping pros and cons shippers could face in 2020 and how FreightCenter will help you tackle your freight shipping needs. MORE
SAP APO is not equipped to address today’s supply chain challenges and that makes demand forecasting and supply chain planning more cumbersome and off target with APO or similar tools. APO’s“Top-Down” Demand Forecasting. Despite the added complexities in today’s supply chains, SAP APO still applies the traditional "top-down" approach to forecasting based on aggregated data. For example, splitting monthly data into weeks can increase forecast error by more than 40 percent. MORE
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. MORE
We continue our series on what makes up a "Best in Class" shipper by taking a deeper dive into #4 and #5 of the 10 areas that "Best in Class" Shippers must master : Freight Spend Management and a focus on LTL Shipping Process. Our goal is to help shippers spend less, be more efficient, and continue to improve their LTL shipping ability so they may stay competitive and also keep customers happy. . Managing Freight Spend and LTL Shipping Process. MORE
Causal f orecasting shines a light on , and isolates, actual demand signals from market “chatter,” thus improving forecast quality. What Exactly Is Causal Forecasting? . First, what it’s not is a replacement for demand forecasting. MORE
What is Forecasting? Within a supply chain, forecasting is the prediction of what to expect in the short and long term for inventory, orders, production, etc. The most common forecast is MRP or Material Requirement Planning. Due to the variable nature of a supply chain, forecasts are not always exact, but rather an approximation given historical data and predicted events. Why Forecasts are Important. Sharing Forecasts. MORE
Information theory shows us that increasing mathematical precision to model a “perfect fit” will reach a point where further sophistication of time-series analysis no longer is able to improve upon forecast accuracy. As a proof point, industry surveys show that despite highly tuned models, forecast error remains a significant challenge for most corporations. And the high forecast error rate isn’t limited to slow movers which can experience error rates of over 60%. MORE
Today when you think of logistics, you tend to connect it to speed and timeliness, that is to process and ship orders on time with efficiency and provide the right information to customers to make the right decision. What are the popular methods of supply chain forecasting? MORE
While extremely valuable, any reputation forecasting has can quickly be tarnished by bad experiences. A more fundamental issue is knowing what business problems forecasting can address. Outlined below are five of the best use cases for forecasting based on dozens of projects our customers have executed with our technologies. The fundamental job of the forecast is to balance sales and marketing resources against supply capacity planning. If not, you are not alone. MORE
I have heard a number of supply chain professionals proclaim that their companies should stop forecasting product demand due to poor forecast accuracy. If we could only get closer to true end-customer demand the company could ship exactly what is needed, where and when. However, what is often overlooked is that moving to a pull strategy does not eliminate the need for a forecast. The forecast process needs an executive champion. MORE
Ultra Large Container Vessels (ULCVs) take the idea of economies of scale to new levels in the container shipping business. But these mammoth ships also bring some large-scale challenges. In its Container Forecaster report published this month shipping consultancy Drewry headquartered in London, UK, maintains that a “toxic mixture of overcapacity, weak demand and aggressive […]. MORE
Longer Lead Times Forecasted. Amid current events, demand for transportation and shipping have also increased significantly due to a spike in online shopping, creating a shortage of drivers, high delivery volumes and unpredictable delivery schedules. Don’t Get Caught Behind The Curve. MORE
Catch up on the effects and forecasts of Tropical Storm Harvey below: EFFECTS. Authorities forecast the winds brought by the storm to reach 185 kph or higher. FORECASTS. Battered Houston, the nation's fourth largest city, plays a crucial role in the energy, chemical and shipping industries that reaches well beyond its metropolitan area. MORE
It’s a very useful number that can itself signal action needs to be taken, such as if Units on Hand drops to zero, indicating a location is out-of-stock and additional product should be ordered or shipped. Units in Transit Units in Transit refers to the number of units that have been shipped and are en route to their destination, such as from your warehouse to a retailer’s DC, or from a retailer’s DC to a store. Using Forecasted Unit Sales overcomes that challenge. MORE
Since the beginning of time – OK, since the beginning of demand forecasting the standard approach has been a single number forecast that works relatively well with stable high volume demand. Traditional forecasting tools such as SAP APO, designed 25 years ago or more, generally hold their own in this environment. That makes it easier to generate a high-level forecast—but item-location level forecast quality is poor because specific demand signals are missed. MORE
What is Inventory Forecasting? Wait, what has this got to do with inventory forecasting? So, for the majority of small and medium businesses, inventory forecasting is simply an inventory reordering strategy to ensure that your stock levels are in the Goldilocks zone. I’ll show you that inventory forecasting is not some dark art that is mastered by a few consultants. Nor does it require expensive or complicated statistical software for demand forecasting. MORE
A Demand Forecasting system lives and dies by how well the system implementation is handled. As the trite saying goes, “the devil is in the details,” which most certainly applies to a forecasting project. Plus, we mustn’t forget that forecasting is an inexact science and requires a degree of mental interpolation (and a small amount of faith!) Then, you should look at these key factors to help you successfully implement your automated forecasting system. MORE
Supply chain forecasting is a great way to help manufacturers, operations managers and production planners make educated predictions about factors influencing warehouse operations. In fact, a recent study revealed that accurate forecasting was one of the top most priorities for manufacturing companies as modern manufacturing continues to develop, diversify, and expand to new regions of the world. MORE
Using less-than-truckload for medium-sized shipments is one of the great innovations in shipping. It produces results at a fraction of the cost of full truckload (FT) or small package shipping. However, the needs of the modern shipping industry have reached an optimal point, and the only way to further push the envelope is by using a dedicated transportation management system (TMS). Contract negotiation is becoming a major factor in shipping. MORE
Supply chain forecasting is a great way to help manufacturers, operations managers and production planners make educated predictions about factors influencing warehouse operations. In fact, a recent study revealed that accurate forecasting was one of the top most priorities for manufacturing companies as modern manufacturing continues to develop, diversify, and expand to new regions of the world. MORE
Even more, WooCommerce offers flexible shipping options and settings, including the opportunity to work with tech-driven order fulfillment companies and other platforms that can help you grow your business. In this article, we’ll cover everything you need to know about shipping for your WooCommerce store, including WooCommerce shipping setup, available plugins, and ecommerce fulfillment options. Shipping on WordPress: your top 3 options. Table Rate Shipping Pro. MORE
All goods would be shipped from anywhere around the world into a single Distribution Centre. From that single Distribution Centre we would in turn ship the goods back out to consumers across the country as they were ordered on-line. This is drop shipping in action. MORE
This explains also why supply chain planners struggle to improve their forecasts and end up hitting a ceiling. Even if Granarolo can successfully model and forecast the impact of these promotions, its competition will see them as periods of unpredicted demand decline that increases their demand volatility. The increase of demand volatility in today’s markets explains why supply chain leaders tend to believe that their primary supply chain problem is forecast accuracy. MORE
Research suggests that the new IMO 2020 MARPOL Annex VI policy, which looks to tackle ship emissions through reducing their sulphur content, will raise freight rates by around 10-20%. The forecast from business intelligence provider CRU notes that costs are associated with the new fuel blends and fitting scrubbers to ships’ exhausts. Historically, bunker fuel has been the mainstay of shipping engines. Normal. false. false. false. EN-GB. X-NONE. X-NONE. MORE
Ware2Go, a UPS-owned company that provides fulfillment on demand through partnership with warehouse owners, through an integration with Google Shopping lets merchants offer free shipping early in the search and discovery process on Google, aimed at increasing conversion. MORE
2) Forecast Demand. If you fail to forecast demand, you face the following potential risks: Running out of stock. Commandment #2: Thou Shalt Forecast Demand. It is important to note that requirements planning is not the same as demand forecasting. ARTICLE SUMMARY. MORE
Robinson’s historical shipping trends show that this seasonal demand growth creates a “fall season,” similar to floral, produce, and grilling seasons. Temperature controlled shipping has four “seasons” based on demand. Leverage accurate data and forecasting. MORE
Are you up-to-date with the latest events in freight shipping and logistics? Staying current in the world of shipping and freight also takes strong networking and communication. Conferences and expos are a chance for you to hear from the industry’s top players, and most importantly, build relationships with other freight shipping professionals. 7 of the Best Freight Shipping Events to Attend in 2015. Freight freight shipping MORE
Freight Transportation Forecast to 2026. This report, available for purchase here , poised some significant implications for the shipping, and by direct correlation, the logistics industry. Take a look at some of the specifics of the Freight Forecast and how shippers may adapt to the coming increases. Vitals of the Freight Forecast. Some of the highlights of the Freight Forecast include a dramatic increase of 28.6 MORE
Like so many industries today, freight shipping is being transformed by advanced technologies. All these technologies share two goals: to make freight shipping more efficient and less expensive. In the world of freight-shipping technology, the concept of driverless freight-shipping trucks gets the lion’s share of the press, but it is still years away from being a major factor in freight shipping. MORE
Shipping to Puerto Rico is more complex than it might seem. On top of that, as an island nation, shipping to Puerto Rico is also naturally more expensive and limited. Here's what you need to know about shipping to Puerto Rico. An Overview of Shipping to Puerto Rico. Shipping to Puerto Rico is a domestic service, but sometimes you need to list "Puerto Rico" in the country slot, and sometimes it's United States. It depends largely on the shipping agent. MORE
Supply chain forecasting is a great way to help manufacturers, operations managers and production planners make educated predictions about factors influencing warehouse operations. In fact, a recent study revealed that accurate forecasting was one of the top most priorities for manufacturing companies as modern manufacturing continues to develop, diversify, and expand to new regions of the world. MORE
This blog is a follow up to the last one where I discussed some ideas around setting up a forecasting hierarchy. As hinted in that blog, I feel that forecasting using fixed hierarchies is not the best way of forecasting. In this blog post, I intend to share what I consider to be a better forecasting methodology. In this example, a number of pre-defined hierarchies are available to us for a hierarchical forecasting. Forecasting General Topics MORE
As world affairs go, the most recent Global Liner Shipping conference in London did not stir up much interest in the global news cycle. Yet carriers are still talking up their new ships and cheering every uptick in container rates (already below cost levels), noisily celebrating this as a prelude to an economic spring. Expect further reductions in capacities and workforces across mining, metals production, heavy industrial equipment, ship building, and many others. MORE
Logility
NOVEMBER 13, 2020
Causal f orecasting shines a light on , and isolates, actual demand signals from market “chatter,” thus improving forecast quality. What Exactly Is Causal Forecasting? . First, what it’s not is a replacement for demand forecasting.
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? About 15 years ago, many forecasting solutions turned to multi-echelon optimization.
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20Cube Logistics
NOVEMBER 19, 2020
Today when you think of logistics, you tend to connect it to speed and timeliness, that is to process and ship orders on time with efficiency and provide the right information to customers to make the right decision. What are the popular methods of supply chain forecasting?
Supply Chain Game Changer
OCTOBER 13, 2020
All goods would be shipped from anywhere around the world into a single Distribution Centre. From that single Distribution Centre we would in turn ship the goods back out to consumers across the country as they were ordered on-line. This is drop shipping in action.
Speaker: Irina Rosca, Director of Supply Chain Operations, Helix
As we plan for the world of eCommerce and the customer expectation of quick, free shipping, our ability to forecast is turned on its head. If we're going to offer the speed of shipping and variety of inventory that today's customers have come to expect, there are a lot of different questions that need to be asked. How many distribution centers do we even need, and is that number feasible?
ToolsGroup
AUGUST 4, 2015
SAP APO is not equipped to address today’s supply chain challenges and that makes demand forecasting and supply chain planning more cumbersome and off target with APO or similar tools. APO’s“Top-Down” Demand Forecasting. Despite the added complexities in today’s supply chains, SAP APO still applies the traditional "top-down" approach to forecasting based on aggregated data. For example, splitting monthly data into weeks can increase forecast error by more than 40 percent.
|
ToolsGroup
DECEMBER 12, 2017
Since the beginning of time – OK, since the beginning of demand forecasting the standard approach has been a single number forecast that works relatively well with stable high volume demand. Traditional forecasting tools such as SAP APO, designed 25 years ago or more, generally hold their own in this environment. That makes it easier to generate a high-level forecast—but item-location level forecast quality is poor because specific demand signals are missed.
EMERGE App
FEBRUARY 23, 2020
What is Inventory Forecasting? Wait, what has this got to do with inventory forecasting? So, for the majority of small and medium businesses, inventory forecasting is simply an inventory reordering strategy to ensure that your stock levels are in the Goldilocks zone. I’ll show you that inventory forecasting is not some dark art that is mastered by a few consultants. Nor does it require expensive or complicated statistical software for demand forecasting.
Logility
AUGUST 23, 2016
I have heard a number of supply chain professionals proclaim that their companies should stop forecasting product demand due to poor forecast accuracy. If we could only get closer to true end-customer demand the company could ship exactly what is needed, where and when. However, what is often overlooked is that moving to a pull strategy does not eliminate the need for a forecast. The forecast process needs an executive champion.
Cerasis
MARCH 26, 2015
Are you up-to-date with the latest events in freight shipping and logistics? Staying current in the world of shipping and freight also takes strong networking and communication. Conferences and expos are a chance for you to hear from the industry’s top players, and most importantly, build relationships with other freight shipping professionals. 7 of the Best Freight Shipping Events to Attend in 2015. Freight freight shipping
CH Robinson Transportfolio
OCTOBER 7, 2020
Robinson’s historical shipping trends show that this seasonal demand growth creates a “fall season,” similar to floral, produce, and grilling seasons. Temperature controlled shipping has four “seasons” based on demand. Leverage accurate data and forecasting.
|
ThroughPut
FEBRUARY 24, 2020
Supply chain forecasting is a great way to help manufacturers, operations managers and production planners make educated predictions about factors influencing warehouse operations. In fact, a recent study revealed that accurate forecasting was one of the top most priorities for manufacturing companies as modern manufacturing continues to develop, diversify, and expand to new regions of the world.
Multichannel Merchant
AUGUST 31, 2020
Ware2Go, a UPS-owned company that provides fulfillment on demand through partnership with warehouse owners, through an integration with Google Shopping lets merchants offer free shipping early in the search and discovery process on Google, aimed at increasing conversion.
Logility
APRIL 15, 2020
While extremely valuable, any reputation forecasting has can quickly be tarnished by bad experiences. A more fundamental issue is knowing what business problems forecasting can address. Outlined below are five of the best use cases for forecasting based on dozens of projects our customers have executed with our technologies. The fundamental job of the forecast is to balance sales and marketing resources against supply capacity planning. If not, you are not alone.
ThroughPut
FEBRUARY 24, 2020
Supply chain forecasting is a great way to help manufacturers, operations managers and production planners make educated predictions about factors influencing warehouse operations. In fact, a recent study revealed that accurate forecasting was one of the top most priorities for manufacturing companies as modern manufacturing continues to develop, diversify, and expand to new regions of the world.
Alloy
SEPTEMBER 3, 2019
It’s a very useful number that can itself signal action needs to be taken, such as if Units on Hand drops to zero, indicating a location is out-of-stock and additional product should be ordered or shipped. Units in Transit Units in Transit refers to the number of units that have been shipped and are en route to their destination, such as from your warehouse to a retailer’s DC, or from a retailer’s DC to a store. Using Forecasted Unit Sales overcomes that challenge.
Supply Chain @ MIT
JULY 9, 2015
Ultra Large Container Vessels (ULCVs) take the idea of economies of scale to new levels in the container shipping business. But these mammoth ships also bring some large-scale challenges. In its Container Forecaster report published this month shipping consultancy Drewry headquartered in London, UK, maintains that a “toxic mixture of overcapacity, weak demand and aggressive […].
ShipBob
JANUARY 10, 2020
Even more, WooCommerce offers flexible shipping options and settings, including the opportunity to work with tech-driven order fulfillment companies and other platforms that can help you grow your business. In this article, we’ll cover everything you need to know about shipping for your WooCommerce store, including WooCommerce shipping setup, available plugins, and ecommerce fulfillment options. Shipping on WordPress: your top 3 options. Table Rate Shipping Pro.
AB&R
OCTOBER 14, 2020
Longer Lead Times Forecasted. Amid current events, demand for transportation and shipping have also increased significantly due to a spike in online shopping, creating a shortage of drivers, high delivery volumes and unpredictable delivery schedules. Don’t Get Caught Behind The Curve.
Freight Center
FEBRUARY 6, 2020
Our 2020 Freight Shipping Outlook series comes to a close with a forecast of what FreightCenter customers can expect in the new year. To keep it simple, we’ll break down the freight shipping forecast into the three most significant freight shipping pros and cons shippers could face in 2020 and how FreightCenter will help you tackle your freight shipping needs.
ThroughPut
FEBRUARY 24, 2020
Supply chain forecasting is a great way to help manufacturers, operations managers and production planners make educated predictions about factors influencing warehouse operations. In fact, a recent study revealed that accurate forecasting was one of the top most priorities for manufacturing companies as modern manufacturing continues to develop, diversify, and expand to new regions of the world.
Silvon Software
OCTOBER 18, 2017
A Demand Forecasting system lives and dies by how well the system implementation is handled. As the trite saying goes, “the devil is in the details,” which most certainly applies to a forecasting project. Plus, we mustn’t forget that forecasting is an inexact science and requires a degree of mental interpolation (and a small amount of faith!) Then, you should look at these key factors to help you successfully implement your automated forecasting system.
Arkieva
JANUARY 28, 2016
This blog is a follow up to the last one where I discussed some ideas around setting up a forecasting hierarchy. As hinted in that blog, I feel that forecasting using fixed hierarchies is not the best way of forecasting. In this blog post, I intend to share what I consider to be a better forecasting methodology. In this example, a number of pre-defined hierarchies are available to us for a hierarchical forecasting. Forecasting General Topics
TPSynergy
JANUARY 28, 2019
What is Forecasting? Within a supply chain, forecasting is the prediction of what to expect in the short and long term for inventory, orders, production, etc. The most common forecast is MRP or Material Requirement Planning. Due to the variable nature of a supply chain, forecasts are not always exact, but rather an approximation given historical data and predicted events. Why Forecasts are Important. Sharing Forecasts.
Cerasis
SEPTEMBER 11, 2015
We continue our series on what makes up a "Best in Class" shipper by taking a deeper dive into #4 and #5 of the 10 areas that "Best in Class" Shippers must master : Freight Spend Management and a focus on LTL Shipping Process. Our goal is to help shippers spend less, be more efficient, and continue to improve their LTL shipping ability so they may stay competitive and also keep customers happy. . Managing Freight Spend and LTL Shipping Process.
EFT
MARCH 2, 2020
Research suggests that the new IMO 2020 MARPOL Annex VI policy, which looks to tackle ship emissions through reducing their sulphur content, will raise freight rates by around 10-20%. The forecast from business intelligence provider CRU notes that costs are associated with the new fuel blends and fitting scrubbers to ships’ exhausts. Historically, bunker fuel has been the mainstay of shipping engines. Normal. false. false. false. EN-GB. X-NONE. X-NONE.
The Network Effect
APRIL 17, 2015
Information theory shows us that increasing mathematical precision to model a “perfect fit” will reach a point where further sophistication of time-series analysis no longer is able to improve upon forecast accuracy. As a proof point, industry surveys show that despite highly tuned models, forecast error remains a significant challenge for most corporations. And the high forecast error rate isn’t limited to slow movers which can experience error rates of over 60%.
Tompkins Blog
JANUARY 13, 2014
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.
Elementum
AUGUST 29, 2017
Catch up on the effects and forecasts of Tropical Storm Harvey below: EFFECTS. Authorities forecast the winds brought by the storm to reach 185 kph or higher. FORECASTS. Battered Houston, the nation's fourth largest city, plays a crucial role in the energy, chemical and shipping industries that reaches well beyond its metropolitan area.
Freight Center
FEBRUARY 11, 2020
Like so many industries today, freight shipping is being transformed by advanced technologies. All these technologies share two goals: to make freight shipping more efficient and less expensive. In the world of freight-shipping technology, the concept of driverless freight-shipping trucks gets the lion’s share of the press, but it is still years away from being a major factor in freight shipping.
Logistics Bureau
NOVEMBER 23, 2020
2) Forecast Demand. If you fail to forecast demand, you face the following potential risks: Running out of stock. Commandment #2: Thou Shalt Forecast Demand. It is important to note that requirements planning is not the same as demand forecasting. ARTICLE SUMMARY.
Cerasis
MAY 24, 2016
Using less-than-truckload for medium-sized shipments is one of the great innovations in shipping. It produces results at a fraction of the cost of full truckload (FT) or small package shipping. However, the needs of the modern shipping industry have reached an optimal point, and the only way to further push the envelope is by using a dedicated transportation management system (TMS). Contract negotiation is becoming a major factor in shipping.
AFFLINK
NOVEMBER 12, 2019
Shipping to Puerto Rico is more complex than it might seem. On top of that, as an island nation, shipping to Puerto Rico is also naturally more expensive and limited. Here's what you need to know about shipping to Puerto Rico. An Overview of Shipping to Puerto Rico. Shipping to Puerto Rico is a domestic service, but sometimes you need to list "Puerto Rico" in the country slot, and sometimes it's United States. It depends largely on the shipping agent.
DELMIA Quintiq
APRIL 19, 2016
As world affairs go, the most recent Global Liner Shipping conference in London did not stir up much interest in the global news cycle. Yet carriers are still talking up their new ships and cheering every uptick in container rates (already below cost levels), noisily celebrating this as a prelude to an economic spring. Expect further reductions in capacities and workforces across mining, metals production, heavy industrial equipment, ship building, and many others.
Cerasis
JULY 31, 2015
Freight Transportation Forecast to 2026. This report, available for purchase here , poised some significant implications for the shipping, and by direct correlation, the logistics industry. Take a look at some of the specifics of the Freight Forecast and how shippers may adapt to the coming increases. Vitals of the Freight Forecast. Some of the highlights of the Freight Forecast include a dramatic increase of 28.6
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