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.

What is Inventory Forecasting?

EMERGE App

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.

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Why SAP APO Can’t Forecast Demand in Complex Environments

ToolsGroup

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.

Why You Should Embrace Uncertainty in Demand Forecasting

ToolsGroup

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.

Key Questions for a Successful Distribution Network

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?

Probabilistic Forecasting Can Extend the Life of SAP APO

ToolsGroup

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.

The 7 Best Events For Freight Shipping in 2015

Cerasis

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

Five Elements of Successful Sales Forecasting

Logility

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. The statistical forecast is generated to make adjustments to sales and production planning.

Ware2Go, Google Fast-Free Shipping Offers Aim at Conversion Lift

Multichannel Merchant

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.

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. 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.

2020 Freight Shipping Outlook: Forecast for FreightCenter Customers

Freight Center

Our 2020 Freight Shipping Outlook series comes to a close with a forecast of what FreightCenter customers can expect in the new year. Freight Shipping Freight Shipping Forecast 3PL FreightCenter FreightCenter Customers Shipping Pros and Cons

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. 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.

Inventory and forecast data from retailers: After your product ships (Part 2)

Alloy

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.

DC 40

WordPress Ecommerce Shipping: Scaling Your Online Store Through Shipping

ShipBob

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.

Big Ships, Big Problems?

Supply Chain @ MIT

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 […].

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. 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.

2020 Freight Shipping Outlook: Advanced Technologies in Freight Shipping on the Rise

Freight Center

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.

3 Critical Factors For A Successful Demand Forecasting System Implementation

Silvon Software

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.

Freight rates forecast to rise 10-20%

EFT

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.

A better way to forecast using attribute based dynamic hierarchies

Arkieva

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

Why Forecasting is Important in the Supply Chain

TPSynergy

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.

Managing Freight Spend and LTL Shipping Process to Attain “Best In Class” Shipper Status

Cerasis

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.

How demand sensing can vault forecast accuracy beyond its theoretical limits

The Network Effect

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%.

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.

Hurricane Harvey - Effects, Forecasts, and Operational Best Practices

Elementum

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.

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

ToolsGroup

Blog demand forecasting inventory optimization machine learning supply chain planningHow has COVID-19 affected your business? Are you experiencing a change in demand given the changes to the economy and government measures?

What’s Happening in the Transatlantic’s Ocean Shipping Lane

CH Robinson Transportfolio

What’s Happening in the Transatlantic’s Ocean Shipping Lane | Transportfolio. Certain trends in capacity, rates, and tariff activity have conspired to create an especially dynamic holiday season for ocean shipping in the Transatlantic lane. Forecast and book your space earlier.

23 Reasons the Ideal TMS is best for LTL Freight Shipping

Cerasis

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.

Trick-Or-Treat: The Spookiest Time for Shipping

Freight Center

The National Retail Federation forecasts that this year, Halloween spending by Americans will reach $9 billion. Shipping the Treats. Confectionary companies shift into overdrive creating and shipping their savory treats from A to B. Products like candy need specialty shipping; temperature-controlled trailers and carriers who can service the right lanes for the best rates. Ship alone if you dare. All Hollow’s Eve will be here before we know it!

2020 Freight Shipping Outlook: Advanced Technologies in Freight Shipping on the Rise

Freight Center

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 to Come in Freight Shipping. Getting ready to ship?

How to Best Prepare for Current (and Upcoming) Supply Chain Disruptions

CH Robinson Transportfolio

It’s no secret the way companies ship their freight has shifted due to COVID-19. Prepping for peak shipping season and new tech launches. Additionally, ocean shipping is experiencing a busy peak season now as companies prepare for the holiday shopping surge.

What You Need to Know About Shipping to Puerto Rico

AFFLINK

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.

Separate Demand Signals from ‘Market Noise’ and Bring Precision to your Forecasting

Halo

Use Halo Multivariate Demand Signal Management to isolate actual demand signals from inconsistent market activity and improve forecast quality. What Multivariate Demand Signal Management is not is a replacement for demand forecasting. In fact, it augments core demand forecasting solutions by providing more insight to improve forecast quality and demand response. Ultimately, the problem is a combination of an overly optimistic forecast and the wrong product mix.

Giants in the tank. Has liner shipping lost its mojo?

DELMIA Quintiq

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.

Strong Freight Forecast Expected Thru 2026, What It Means for Shippers & 5 Things to Get Prepared

Cerasis

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