[PODCAST] Inventory Forecasting Lessons for Improved Supply Chain Network Optimization

Cerasis

Listen to “Inventory Forecasting Lessons for Improved Supply Chain Network Optimization” on Spreaker. The post [PODCAST] Inventory Forecasting Lessons for Improved Supply Chain Network Optimization appeared first on Transportation Management Company | Cerasis.

Dealing With The Supply Chain Gloppy Mess

Supply Chain Shaman

For the first in seven years, I was not heads-down preparing for The Supply Chain Insights Global Summit. Pre-pandemic only 30% of supply chain leaders were satisfied with their supply chains, and during the pandemic, business leader satisfaction is falling precipitously.

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How do supply chain professionals rate their demand forecast’s accuracy?

AIMMS

Part I in our series on assessing your Demand Forecasting process. Is your demand forecasting process evolving with the times? Are you satisfied with your level of forecast accuracy? We are running a quiz to help supply chain professionals address these questions. Which function is responsible for managing the forecast process and who is accountable for accuracy? . How do professionals rate their demand forecast’s accuracy? .

Get Started Using Machine Learning for New Product Forecasting

ToolsGroup

Adding to this already uphill battle, we don’t have trustworthy new product forecasting methods because forecasting new products with no sales data is very hit-and-miss. Machine learning (ML) provides an effective weapon for your new product forecasting arsenal. In this blog we will share machine learning techniques that can produce fully-automated forecasts for new products. Why is new product forecasting important? Overall reasonably accurate forecasts.

How is Demand Forecasting changing? How do you compare to your peers?

AIMMS conducted research to assess how supply chain teams perceive the accuracy of their forecast and discover the tools and techniques they are using to upgrade the forecasting process. In this report, you will find helpful benchmarks and insights offered by your peers on the latest demand forecasting techniques, forecast granularity and periodicity, and expectations for the future.

Five Reflections From Supply Chain Planning Benchmarking

Supply Chain Shaman

In my work with Supply Chain Insights , I immerse myself in learning. I continually question my long-held beliefs on supply chain excellence. . When readers finish a Supply Chain Shaman blog, I want to drive a set of unique takeaways. Today, I am going to share five insights that I have gleaned from our work on Supply Chain Planning Benchmarking. Figure 1: Supply Chain Planning Benchmarking Methodology Overview.

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.

Why is Demand Forecasting important for effective Supply Chain Management?

Arkieva

Demand forecasting forms an essential component of the supply chain process. It’s the driver for almost all supply chain related decisions. While demand forecasting is undeniably important, it’s also one of the most difficult aspects of supply chain planning. Why is Demand Forecasting important for effective Supply Chain Management?

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

ToolsGroup

There’s still a strong demand for supply chain planning solutions, particularly ones with machine learning capabilities that can help clients rapidly adapt to the changing supplier situations and consumer demand that goes along with major disruptions like this. .

Top 5 Signs Your Supply Chain is Dysfunctional

The Network Effect

The post Top 5 Signs Your Supply Chain is Dysfunctional appeared first on The Network Effect. Customer Centricity Leadership and Strategy Multiparty Network Network Business Supply Chain Management Technology Visibility cloud forecasting visibility

5 Perceptions on Demand Forecasting and How it's Changing

Speaker: Brian Dooley, Director SC Navigator, AIMMS

It’s no secret that demand is getting more difficult to predict. Is your demand forecasting process evolving with the times? How does your process stack up against others? Are you satisfied with your level of forecast accuracy? This webinar shares research findings from a recent survey among supply chain planning professionals to help you answer these questions.

What Is Reverse Logistics’ Role in 2020 Supply Chain Trends

Cerasis

The global reverse logistics market is forecast to hit US$603.90 The post What Is Reverse Logistics’ Role in 2020 Supply Chain Trends appeared first on Transportation Management Company | Cerasis. Reverse Logistics Supply Chain Trends

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. Minimizing forecast error requires a background in data analysis and statistics while also having a solid understanding of the products, markets and customers you are trying to predict demand for. Clearly, forecast accuracy is very important.

Now More Than Ever: Supply Chain Analytics for Demand Forecasting

Blue Ridge

The post Now More Than Ever: Supply Chain Analytics for Demand Forecasting appeared first on Blue Ridge. Blogs and Articles covid-19 demand forecasting supply chain analytics uncertainty

Machine Learning and AI: Profiling Demand History – A Wiser Forecasting

Arkieva

In the simple version of supply chain management (SCM) the goal for demand forecasting in the tactical decision tier is prediction accuracy. Machine Learning and AI: Profiling Demand History – A Wiser Forecasting was first posted on August 5, 2020 at 8:11 am. ©2017 ©2017 " Supply Chain Link Blog - Arkieva " Use of this feed is for personal non-commercial use only.

Machine Learning: A Quantum Leap in Forecast Accuracy for the Modern Supply Chain

Whether you realize it or not, Machine Learning is having a profound impact on your everyday life

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. With supply chain complexity on the rise, can new technologies help to improve forecast accuracy and achieve benefits like an optimized inventory and better customer service? review their forecast on a weekly basis.

Responding to Supply Chain Disruption Amid COVID-19

AIMMS

It’s taking a profound humanitarian and economic toll , impacting supply cha ins in many ways. Our team put several resources together to help supply chain organizations navigate through this crisis safely. . The next 2-4 weeks are critical to understand the exposure throughout your value chain, take actions to address anticipated shortages , and ensure resource requirements to restart. Using Demand Forecasting Navigator to Study Demand Trends.

McDonald’s Mesoamérica Supply Chain Response to COVID-19

ToolsGroup

Businesses around the world are learning to adapt as best they can to the COVID-19 supply chain impact. Unpredictable consumer behavior in response to macro events creates demand volatility in every link of global supply chains.

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? Many companies use demand forecasts that are based solely on historical data. However, these forecasts are less effective in a volatile global market facing sociopolitical challenges, such as trade wars and Brexit.

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. Join Irina Rosca, Director of Supply Chain Operations at Helix and an experienced global supply chain strategist, as she walks through the key questions to a successful and efficient distribution network. How to gain end-to-end visibility into any causes of delay in your global supply chain.

Probabilistic Forecasting: Right Fit for Your Business?

Supply Chain Shaman

A Closer Look at Forecasting. Traditionally companies forecast using history (shipments or orders) and applying linear regression to understand the patterns of historical demand using these to estimate future requirements in a time-series format. When items are on the long tail of the supply chain, demand is lumpy and unpredictable. Traditional forecasting methods, as a result, do not work very well to predict future forecasts. forecasting engines

Forecasting: Let’s Start by Asking the Right Questions

Supply Chain Shaman

RFPs and powerpoint presentations are the worst way to buy decision support technologies like supply chain planning. 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? Can you easily get to three years of forecasts to back cast the data to analyze the forecasting engines?

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

ToolsGroup

Cloud-based supply chain planning is gaining traction. But cloud-based supply chain planning has not proliferated nearly as fast as many have predicted and "public cloud" (versus "private cloud") i mplementations are still a small minority, leaving a lot of head scratching about why cloud hasn't been as widely adopted as some expected. Supply chain management is a system of record. Supply Chain Planning

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. Manufacturing to Market logistics manufacturing supply chain forecasting Demand Planning Demand Forcast

Automated Order Processing and Proactive Inventory Management

Speaker: Irina Rosca, Director of Supply Chain Operations, Helix

Organizations need to focus on demand driven supply planning, utilizing real time information on customer orders from all marketplaces (e-commence, Amazon - or other online retailers, and point of sale data from brick and mortar). Focusing on this information once per month during the S&OP meeting is too late for all business units to align. Companies should have seamless integration between order entry, inventory management, forecasting and supply planning models and purchase order status to sense risk, pull levers to mitigate potential risk, and communicate within and outside the organization. This is especially important for new product releases, in store programs or promotions (sales, end caps, PDQ. etc) or online promotions (company run or 3rd party). Depending on total supply chain lead time, not having real time visibility and analysis of this information can significantly affect sales and the bottom line.

Strong Supply Chains Required For an Economic Rebound: Six Steps To Take

Supply Chain Shaman

My last post on the Supply Chain Shaman blog was forty-five days ago. Then it was the redefinition of the supply chain for the global shutdowns Sick with the virus; I spent my energies writing and moderating podcasts. Let’s learn and apply it to supply chain management.

“Optimized” Inventory Forecasting a Co-Product of Optimized Central Planning

Arkieva

In a recent blog on Inventory Forecasting the core challenges and business importance of estimating inventory are outlined. Optimized” Inventory Forecasting a Co-Product of Optimized Central Planning was first posted on February 18, 2020 at 8:08 am. ©2017

Another Way to Think About Supply Chain Risk Management

ToolsGroup

In the era of the global supply chain, many companies think about risk management in terms of “ macro agility ”—their ability to anticipate the likelihood of, and develop readiness plans for, major crises that impact the chain, like geopolitical instability and extreme weather. Micro agility requires supply and demand modeling that can predict the probability of various outcomes—and how much uncertainty there is in those predictions.

Supply Chain Diagnostic: A Four-Step Process

Supply Chain Shaman

Time For A Supply Chain Check-Up? When a company contacts me to help them with their supply chain, the pain is usually a gap in customer service. They tend to have many pretty PowerPoint slide decks–full of acronyms, pretty pictures and E2E commitments–but they lack a common definition of supply chain excellence. To complete a supply chain diagnostic, I take these four steps: Step One. Supply chains are not the same.

Scenario Modeling Is Now Crucial for Supply Chain Network Design

AIMMS

The COVID-19 pandemic has exposed many risks and uncertainties in supply chain networks. Current Technologies in Use for Supply Chain Network Design . Prolonged shutdowns have both financial and operational implications, which are often very difficult to assess due to the complexity and far-reaching nature of supply chains. Network design is only one of the many pieces of the supply chain planning puzzle.

Using Every Byte of Data to Forecast Your Food Supply Chain

Vanguard Software

The need for food and beverage supply chain organizations to balance supply with increasingly varied demand is more critical than ever before. Demand Planning Supply Chain

Demand Planning & Forecasting During COVID-19 [Webinar]

CHAINalytics

Last month, Chainalytics’ Neelesh Asati moderated a panel discussion on demand planning and forecasting during COVID-19 hosted by Logistics Insider. It was an engaging conversation between supply chain veterans from Kellogg India, Flipkart, 3SC, and CJ Darcl. APAC Blog Integrated Demand & Supply Planning Webinars COVID-19 covid19 demand forecasting Demand Planning SKU rationalization Supply Chain Planning

Four Steps to Better Demand Forecasting

Logility

Forecasting is an “inexact science” that relies on the data available to you, the math you use, and how you implement the forecast. And your forecasting success is fundamentally impacted by your understanding of that data, its strengths and limits.

Improve Forecast Quality and Reliability with Value-add Forecasting (Part 1)

Logility

In the world of commerce, every business ecosystem has a type of supply chain that is critical to corporate operations.These supply chains rely on a network of plants and facilities to add value to, and transform, raw materials into a final product.

Probabilistic Forecasting and Confidence Intervals

Arkieva

Historically, most of the key planning and computational activities (models, time series, machine learning, and other analytics) that support extended supply chain management (SCM) are “deterministic models”. Probabilistic Forecasting and Confidence Intervals was first posted on September 27, 2019 at 11:18 am. ©2017 ©2017 " Supply Chain Link Blog - Arkieva " Use of this feed is for personal non-commercial use only.