ToolsGroup

JUNE 17, 2021

Accurate forecasting of uncertain demand. Probabilistic forecasting then produces a range of possible outcomes with probabilities assigned to all values within the range. Probabilistic forecasting then produces a range of possible outcomes with probabilities assigned to all values within the range.

Forecasting 295

Forecasting Forecasting Software Modeling Supply Chain Planning Software 295

Logility

JUNE 2, 2023

In the intricate world of supply chain management, the accuracy of demand forecasting often serves as the cornerstone of business growth. Yet, despite its significance, demand forecasting continues to be a thorny issue for many businesses, particularly manufacturers. What is Demand Forecasting Accuracy? Let’s get started!

Forecasting 130

Forecasting Modeling Forecasting Software Supply and Demand 130

QAD

APRIL 10, 2024

The adoption of demand forecasting tools can help overcome the challenges of demand fluctuation in a timely manner. A reliable system should provide accurate forecasts and recommendations to optimize inventory management and prevent unnecessary costs. However, ensuring the quality of a forecast is not an easy task.

Optimal Sourcing 52

Optimal Sourcing Forecasting Supply and Demand Forecasting Software 52

ToolsGroup

NOVEMBER 13, 2023

BOSTON and LONDON – November 14, 2023 – ToolsGroup , a global leader in retail and supply chain planning and optimization software, is proud to announce it has been named the technology leader in the SPARK Matrix™ analysis of Retail Forecasting and Replenishment (RF&F) by Quadrant Knowledge Solutions (QKS). Bulgari, and Clas Ohlson.

Forecasting 156

Forecasting ToolsGroup Forecasting Software Supply Chain Planning Software 156

ThroughPut

MARCH 25, 2024

Demand forecasting is a critical component of supply chain management, especially in the complex and unpredictable market landscape of 2024. Accurate forecasts are essential for maintaining inventory balance, ensuring customer satisfaction, and achieving financial stability. What is Demand Forecasting?

Forecasting 52

Forecasting Forecasting Software Modeling Demand Planning Software 52

ToolsGroup

FEBRUARY 2, 2022

Here’s my forecast for what will progress this year against that vision: A major cloud provider – Google, Amazon, or Microsoft – will emerge as the dominant host of the open supply chain platform. Tip: Learn practical strategies you can use today to combat supply delays: 8 Winning Strategies to Combat Supply Shortages.

Supply Chain Planning Software 177

Supply Chain Planning Software Forecasting Software Forecasting Optimization Software 177

ThroughPut

MARCH 25, 2024

In supply chain management, accurately distinguishing between demand planning and demand forecasting is essential yet challenging. Misuse of these terms can lead to confusion and ineffective strategies. What is Demand Forecasting? Demand forecasting is the process of predicting future customer demand for a product or service.

Supply and Demand 52

Supply and Demand Forecasting Forecasting Software Demand Planning Software 52

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? How do you turn a good forecast into a great inventory plan? They care if you have the inventory they want when they want it.

Forecasting 156

Forecasting Modeling Forecasting Software Inventory Reduction 156

ToolsGroup

NOVEMBER 27, 2018

Editor’s Note: Two years ago we posted a blog about how to set an annual forecast accuracy target and it was one of our most popular topics. It seems as if everyone is looking to improve their forecasting performance. How much can you realistically expect to improve your forecast accuracy each year?

Forecasting 214

Forecasting Forecasting Software Supply and Demand Modeling 214

Supply Chain Shaman

MAY 1, 2023

In contrast, those who outperformed were better at strategy and aligned with outcomes. Instead, the starting point, as shown in Figure 1, should start with a clear understanding of business strategy. The operating strategy–a major part of the supply chain strategy–flows from the business strategy.

Inventory Reduction 241

Inventory Reduction Cost Reduction Strategies Waste Reduction Resource Reduction 241

ThroughPut

MARCH 24, 2024

Demand planning and forecasting in the traditional sense relied heavily on a combination of limited and biased data and gut instinct. Not limiting this ability to just rectifying errors, analytics can also be leveraged into demand forecasting and profit generation. Why do you Need Modern Demand Sensing to Solve Modern Problems?

Supply and Demand 52

Supply and Demand Optimal Sourcing Forecasting Modeling 52

Unleashed

MAY 1, 2023

Demand forecasting has gained increasing importance over the last few years. We met with five supply chain experts to discuss how crucial demand forecasting is for mitigating risk, and what businesses can do to improve forecast accuracy. Our experts explain that best-practice demand planning begins with a top-down forecast.

Forecasting 96

Forecasting Supply and Demand Modeling Forecasting Software 96

GlobalTranz

DECEMBER 22, 2020

The volatility of 2020 and the uncertainties looming into 2021 make it difficult to forecast planning and budgets based on historical data. Those unexpected surges meant forecasts were worth as much as the paper they were printed on. However, some market trends that became significant factors in 2020 will likely continue.

Forecasting 156

Forecasting Forecasting Software Freight Inventory Reduction 156

Supply Chain Matters

MARCH 25, 2024

Last week, the National Retail Federation (NRF) forecasted its outlook for retail sales this year. Non-store and online sales included in the above figure are forecasted to grown in a range of between 7 percent and 9 percent year-over-year, equating to a range of $1.47 The 2024 forecast compares to the sales growth of $5.1

Forecasting 52

Forecasting Forecasting Software Retail Procurement Analytics 52

Supply Chain Matters

DECEMBER 11, 2023

Today, the United Nations Conference on Trade and Development (UNCTAD) issued its latest forecast update on overall global trade, and the narrative is not encouraging or optimistic. Outlook for 2024 The current updated UNCTAD forecast provides a more pessimistic forecast for 2024. percent in 2023 and a forecasted 4.8

Forecasting 52

Forecasting Global Price Reduction Supply Chain Planning 52

QAD

JULY 6, 2023

AI technology can be used to help with forecasting, supply chain planning and demand planning. With this, planning within your organization is a crucial part of creating a cohesive and comprehensive strategy. It allows you to understand the market better and make better decisions, as well as helping you make more accurate forecasts.

Forecasting 93

Forecasting Supply Chain Planning Software Supply Chain Planning Forecasting Software 93

ThroughPut

DECEMBER 5, 2023

Accurately forecasting sales with fluctuating demand cycles is difficult to achieve, and yes, there’s a direct impact: the less accurate the sales forecast, the less precise the stocking levels. The lack of forecasting accuracy can easily spill hardship into other departments. What is Demand Forecasting?

Supply and Demand 52

Supply and Demand Forecasting Forecasting Software Demand Planning Software 52

ToolsGroup

JANUARY 30, 2018

Trade promotion forecasting is difficult: getting it right involves factoring in many variables. Forecasting demand data, not so much. To do this, the first hurdle is creating a good statistical baseline forecast. To do this, the first hurdle is creating a good statistical baseline forecast.

Forecasting 184

Forecasting Forecasting Software Supply Chain Planning Software Analytics Software 184

Supply Chain Shaman

MAY 1, 2018

This is especially true for forecasting. I find that too many companies try to buy forecasting software through a Request For Proposal (RFP). How forecastable is your product set? What is your Forecast Value Add (FVA) by product segment? E.G. 2015 and 2016 would be used to try to forecast 2017.). Analyze your data.

Forecasting 156

Forecasting Forecasting Software Supply Chain Planning Software Demand Planning Software 156

Supply Chain Shaman

MARCH 21, 2024

In my first classes, I taught the group how to speak the language of demand—forecastability, Forecast Value Added (FVA), backcasting, demand and market latency, and market drivers. We explore the concept of holistic inventory strategies focused on the form and function of inventory. The average was 45% in my recent class.)

Inventory Reduction 389

Inventory Reduction Supply Chain Planning Software Cost Reduction Strategies Supply Chain Design Software 389

Supply Chain Shaman

APRIL 16, 2024

With the evolution of eCommerce, shifts in regional preferences, complexities of product portfolios, decline in forecastability, and increase in demand and supply variability, supply chain planning is more challenging. Mapping Demand Streams The next step is to align supply strategies with demand streams. Plan for patterns of demand.

Supply Chain Planning Software 217

Supply Chain Planning Software Supply Chain Design Software How To Inventory Reduction 217

Logility

OCTOBER 29, 2021

With the right technology, process manufacturing strategy, planning, and management can be simplified. Process manufacturers in particular, with their reliance on a consistent ingredient mix, have unique challenges that require accurate forecasting to keep up with manufacturing demand. Granular forecasting at the SKU level.

Manufacturing Procurement 130

Manufacturing Procurement Forecasting Supply Chain Planning Software Forecasting Software 130

ThroughPut

DECEMBER 4, 2022

When demand can be anticipated with accuracy, it can be delivered efficiently with demand forecasting techniques. Using an AI-driven retail replenishment software and planning solution that tracks inventory can help planners easily forecast and balance store demand to provide accurate SKU level replenishment.

Inventory Reduction 52

Inventory Reduction Resource Reduction Cost Reduction Strategies Sourcing Strategies 52

BlueYonder

JULY 6, 2023

Market-based demand forecasting to help you predict localized demand and placement of inventory Retailers are facing increasing pressure to offer affordable, reliable, and frictionless customer experiences. Read on below for a Part 2 summary of the conversation and then go hear it straight from them on the Blue Yonder Live.

Forecasting 66

Forecasting Forecasting Software Demand Planning Software Supply and Demand 66

Logility

MAY 5, 2023

Inventory strategies begin with an efficient network design to effectively balance your ability to accurately predict customer demand and work with suppliers to adjust orders in real time. Routine firefighting of inventory issues is a symptom of inventory strategies treated as a once-a-year exercise.

Inventory Reduction 130

Inventory Reduction Vendor Strategies Resource Reduction Price Reduction 130

EazyStock

OCTOBER 31, 2022

Demand planning is part of a company’s planning strategy to allocate resources in the best and most effective way to meet demand and respond to demand changes. A demand planning team will forecast demand for their stock items so that supply chain and inventory managers can decide what, how much and when they need to order.

Supply and Demand 52

Supply and Demand Forecasting Forecasting Software Modeling 52

EazyStock

OCTOBER 31, 2022

Demand planning is part of a company’s planning strategy to allocate resources in the best and most effective way to meet demand and respond to demand changes. A demand planning team will forecast demand for their stock items so that supply chain and inventory managers can decide what, how much and when they need to order.

Supply and Demand 52

Supply and Demand Forecasting Forecasting Software Modeling 52

ThroughPut

JUNE 12, 2023

As a result, the forecasting errors in logistics have only multiplied ever since the pandemic and with conventional forecasting models failing to insulate you against underutilization, revenue loss and missed business opportunities, you need to don the Batman’s cape to save the day!

Forecasting 52

Forecasting Modeling Forecasting Software Optimal Sourcing 52

Supply Chain Shaman

OCTOBER 16, 2023

Clear operating strategy and definition of supply chain excellence across plan, source, make and deliver. Improved Forecast Value Added (FVA). Instead, focus on Forecast Value Added analysis. In mature companies, the focus shifts from error to Forecast Value Added (FVA) measurement. I write this post as a guide.

S&OP 321

S&OP Supply and Demand Forecasting Supply Chain Design Software 321

Supply Chain Shaman

NOVEMBER 15, 2023

The essence of the question is resilience and the ability to forecast in a variable market reliably. This gets us to the question of what is the role of the forecast?` For most, forecasting is a conundrum full of potholes, politics, and bias. I attempted and failed to: Use Point of Sale Data in Supply Chain Forecasting.

Supply Chain Planning Software 386

Supply Chain Planning Software Optimal Sourcing Modeling Forecasting Software 386

BlueYonder

JUNE 29, 2023

Market-based demand forecasting to help you predict orders and resources Retailers are facing increasing pressure to offer affordable, reliable and frictionless omni-channel fulfillment experiences. This customer example is just the beginning of a whole new way of retail and grocery planning solutions that we call Fulfillment Forecasting.

Forecasting 53

Forecasting Forecasting Software Resource Reduction Meeting 53

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. And I agree that some companies can operate leaner if they move to a pull distribution strategy based on actual customer demand. It’s the old Push – Pull argument.

Forecasting 100

Forecasting Forecasting Software Supply and Demand Inventory Reduction 100

ToolsGroup

NOVEMBER 15, 2016

In 2016, it seemed as if everyone in supply chain was looking to improve their forecasting performance. Unsurprisingly, the highest percentage of respondents in a recent Gartner/Supply Chain Digest survey selected forecast accuracy and demand variability as the top barriers preventing them from reaching their broader supply chain goals.

Forecasting 120

Forecasting Forecasting Software Supply and Demand Modeling 120

ToolsGroup

JULY 26, 2016

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.

Forecasting 120

Forecasting Supply and Demand Optimal Sourcing Inventory Reduction 120

ToolsGroup

FEBRUARY 10, 2022

Demand shaping is a supply chain strategy that utilizes tactics such as price and promotion incentives, product substitutions and cost modifications to entice customers to purchase specific items. Utilizing pricing software , retailers can leverage machine learning to forecast how pricing will affect customer demand and revenue targets.

Inventory Reduction 156

Inventory Reduction Modeling Price Reduction Waste Reduction 156