ThroughPut

APRIL 15, 2024

In the ever-evolving landscape of global commerce, businesses face a significant challenge: the pain of inaccurate forecasts and the relentless pace of market conditions. The agitation stems from the financial loss and operational inefficiencies accompanying these inaccurate forecasts. AI in supply chain forecasting is a game-changer.

Forecasting 52

Forecasting Forecasting Software Supply Chain Planning Software Modeling 52

ToolsGroup

JUNE 17, 2021

Accurate forecasting of uncertain demand. Demand modeling systems look at the specific factors driving demand at a granular and daily level for individual SKU-Locations. Probabilistic forecasting then produces a range of possible outcomes with probabilities assigned to all values within the range. Right-sizing inventory.

Forecasting 295

Forecasting Forecasting Software Modeling Supply Chain Planning Software 295

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

MARCH 16, 2021

I have been blogging and advocating for the past 15 years on probabilistic approaches to planning and forecasting, and am happy to see in the last few years it has finally started gaining traction and attention. A symptom of a probabilistic plan or forecast is that its results are generally also expressed as probability distributions.

Forecasting 156

Forecasting Forecasting Software Supply Chain Planning Software Supply Chain Planning 156

Logility

JUNE 7, 2023

Top 3 Demand Forecasting Mistakes —How To Avoid Them with Demand planning software Demand forecasting is a critical facet of successful business operations, acting as the helm guiding companies through the rocks hiding beneath the water of market demands. What is Demand Forecasting?

Supply and Demand 130

Supply and Demand Demand Planning Software Forecasting Software Forecasting 130

Logility

MAY 18, 2023

How can you use AI to better understand how causal forecasting can help your business? Logility’s own, Chris Mason, shares his opinion and expertise on how business leaders can leverage causal forecasting software to be better prepared for quickly changing demand. For example.

Forecasting 130

Forecasting Forecasting Software Inventory Reduction Modeling 130

ToolsGroup

MARCH 3, 2022

Despite knowing all this, too many retailers ignore the impact of weather and this adds error to plans and demand forecasts. And even though meteorology has come a long way, weather is a notoriously fickle and uncontrollable factor, and no forecaster can reliably predict it beyond the next few weeks. It all evens out in the end.

Forecasting 156

Forecasting Forecasting Software Procurement Analytics Retail 156

ToolsGroup

MAY 19, 2021

Demand forecasting is tough, and getting it right over the entire product lifecycle during the course of launch, maturation, and end-of-life is tougher still. Forecasting new product introductions is difficult because you don’t have sales history, and you don’t have a good idea of how quickly the product will take off.

Forecasting 156

Forecasting Forecasting Software Supply and Demand Supply Chain Planning Software 156

Logistics Viewpoints

JUNE 7, 2021

When companies implement a demand management or replenishment system, the goal is usually to improve customer satisfaction while holding less inventory. The implementation also involves leveraging weather data to improve forecasting. The forecasting projects were focused on secondary distribution. Forecasting is harder there.

Forecasting 167

Forecasting Forecasting Software Optimal Sourcing Modeling 167

ToolsGroup

DECEMBER 2, 2021

There’s been a lot of change in how we view supply chain demand forecasting: we moved from a focus on supply—what and how much to supply or replenish—to the demand-driven supply chain, which placed too much emphasis on the intermediate goal of an accurate demand forecast. What is demand forecasting in supply chain management?

Inventory Reduction 156

Inventory Reduction Waste Reduction Resource Reduction Cost Reduction Strategies 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

ShipBob

OCTOBER 24, 2022

Forecasting projections is one of the toughest things to get right. Whether your brand is experiencing gradual sales or is in high-growth mode , we’ll walk you through some tips to improve your ability to forecast demand. Jump to section: What is demand forecasting? Jump to section: What is demand forecasting? Conclusion.

Forecasting 130

Forecasting Forecasting Software Modeling Demand Planning Software 130

Logility

MARCH 6, 2020

Machine Learning for demand forecasting has matured to a level of accuracy, transparency and replicability that translates into transformative results, including in these five areas: Accuracy, transparency, thoroughness of analytical options and results. Let’s take a closer look at each one. Accuracy and transparency.

Forecasting 260

Forecasting Supply and Demand Forecasting Software Modeling 260

ToolsGroup

OCTOBER 16, 2018

An experienced gambler might hedge their bet on multiple outcomes, rather than just the most likely "single number forecast". At ToolsGroup we have been big advocates of probabilistic forecasting (sometimes also known as stochastic forecasting). In this case, forecasting 100 units is a pretty safe bet.

Forecasting 189

Forecasting Forecasting Software Supply Chain Planning Software Scenario Planning 189

ToolsGroup

MARCH 16, 2023

We knew we could maintain and raise this level of service, limit waste, and improve profitability by adopting a solution that applies this innovative drive to our planning processes, streamlines collaboration, and increases forecast accuracy.” What makes ToolsGroup’s forecasting approach the most accurate?

Supply and Demand 156

Supply and Demand Forecasting Software Forecasting Supply Chain Planning Software 156

ToolsGroup

FEBRUARY 2, 2022

The system must be capable of orchestrating multiple players in supply chains using different vendor systems to enable collaborative, optimized planning. In 2022 these, along with the probabilistic forecasting methods that they enable, will become mainstream supply chain planning tools. Download your copy ?.

Supply Chain Planning Software 177

Supply Chain Planning Software Forecasting Software Forecasting Optimization Software 177

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.

Forecasting 156

Forecasting Modeling Forecasting Software Inventory Reduction 156

ThroughPut

MARCH 25, 2024

In supply chain management, accurately distinguishing between demand planning and demand forecasting is essential yet challenging. The consequences of conflating demand planning with demand forecasting are significant, impacting inventory management, customer satisfaction, and financial health. What is Demand Forecasting?

Supply and Demand 52

Supply and Demand Forecasting Forecasting Software Demand Planning Software 52

SYSPRO Smarter ERP

MARCH 15, 2023

Manufactures are continuously faced with the challenge of forecasting how much (raw material) to purchase and how much (finished goods) to produce. To manage this delicate balance of demand and supply, manufacturers often use statistical forecasting techniques to predict future demand by looking at historical sales data.

Forecasting 105

Forecasting Forecasting Software Demand Planning Software Modeling 105

Logility

AUGUST 14, 2020

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. How you roll up your data for forecasting fundamentally impacts accuracy.

Forecasting 147

Forecasting Forecasting Software Demand Planning Software Modeling 147

Logility

FEBRUARY 26, 2020

Over my 25+ year supply chain career I have worked for several distribution-intensive companies and every single one of them had a focus on improving forecast accuracy. Achieving a high SKU level forecast accuracy is a top goal for supply chain planning teams regardless of industry, size, location, etc.

Forecasting 162

Forecasting Forecasting Software Optimal Sourcing Supply and Demand 162

SYSPRO Smarter ERP

DECEMBER 19, 2022

In an increasingly unpredictable world environment, practices for planning and forecasting inventory levels that worked in the past need to be reviewed. More recently, artificial intelligence (AI) has been promoted as the way to address the complexities of inventory planning and forecasting. Challenges of IO and AI.

Forecasting 105

Forecasting Forecasting Software Inventory Reduction Supply Chain Planning Software 105

SYSPRO Smarter ERP

MARCH 29, 2023

This data can be extracted from systems such as Point of sale (POS). POS systems have evolved from being used just as cash registers and can now be used to manage sales, promotional offers, and customer experience. The post Demand forecasting in the new normal: Part 2 appeared first on SYSPRO Blog.

Forecasting 105

Forecasting Forecasting Software Demand Planning Software Supply and Demand 105

SYSPRO Smarter ERP

DECEMBER 19, 2022

In an increasingly unpredictable world environment, practices for planning and forecasting inventory levels that worked in the past need to be reviewed. More recently, artificial intelligence (AI) has been promoted as the way to address the complexities of inventory planning and forecasting. Challenges of IO and AI.

Forecasting 98

Forecasting Forecasting Software Inventory Reduction Supply Chain Planning Software 98

Kinaxis

NOVEMBER 14, 2019

by Polly Mitchell Guthrie Today I sat through a full day of talks at the International Institute of Forecasters Foresight Practitioner Conference , which was focused on the topic of “Artificial Intelligence —The Hype and the Promise for Forecasting and Planning.” A supply as a control system, with AI/ML as a control feature.

Forecasting 240

Forecasting Forecasting Software Supply Chain Planning Software Modeling Software 240

ToolsGroup

NOVEMBER 13, 2018

Last month we published a primer on probabilistic forecasting , an alternative to deterministic or ‘single number’ forecasting. To understand the relationship between probabilistic forecasting and inventory, view your supply chain as a dynamic system, subject to uncertainty and unpredictable change.

Forecasting 159

Forecasting Forecasting Software Optimization Software Supply Chain Optimization 159

DELMIA Quintiq

SEPTEMBER 5, 2019

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? But how much faith are companies willing to place in inaccurate forecasts? This is impossible to do manually.

Forecasting 120

Forecasting Forecasting Software Modeling Supply Chain Planning Software 120

ToolsGroup

FEBRUARY 21, 2018

Eight years ago ToolsGroup was one of the first supply chain planning software vendors to employ machine learning to improve demand forecasting. Even in 2014 when Gartner wrote a case study about Danone using our machine learning to help forecast promotions, it was barely a blip on the horizon. Machine learning has certain strengths.

Forecasting 219

Forecasting Forecasting Software Demand Planning Software Supply and Demand 219

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. Here’s another scenario.

Forecasting 184

Forecasting Forecasting Software Supply Chain Planning Software Analytics Software 184

Supply Chain Shaman

OCTOBER 25, 2017

In the design of planning systems, it is important to think through the elements. 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.

Forecasting 152

Forecasting Forecasting Software Modeling Supply Chain Planning Software 152

OptiProERP

SEPTEMBER 21, 2023

Inventory forecasting, or demand forecasting, estimates future inventory levels needed using past data, upcoming events, and market trends. Inventory forecasting ensures manufacturers have the proper inventory to meet customers’ needs while minimizing excess inventory costs. Let’s look at the benefits of inventory forecasting. 

Forecasting 52

Forecasting Forecasting Software Inventory Reduction Supply Chain Planning Software 52

ThroughPut

MARCH 24, 2024

This scenario raises the question: “How do we build systems that enable better demand planning for manufacturers, and what are the processes that support these?” Demand planning and forecasting in the traditional sense relied heavily on a combination of limited and biased data and gut instinct.

Supply and Demand 52

Supply and Demand Optimal Sourcing Forecasting Modeling 52

BlueYonder

AUGUST 22, 2023

What Is a Good Forecast? Forecasts are like friends: Trust is the most important factor (you don’t ever want your friends to lie to you), but among your trustable friends, you prefer meeting those that tell you the most interesting stories. We want forecasts to be “good,” “accurate,” and “precise.” But what do we mean by that?

Forecasting 80

Forecasting Forecasting Software Quality Predictive Analytics Software 80

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

ToolsGroup

NOVEMBER 8, 2016

Here is one straightforward opportunity to focus on in the near future: Migrate away from top-down demand forecasting. Despite the added complexities in today’s supply chains, traditional SCP systems like SAP APO typically apply the traditional "top-down" approach to forecasting based on aggregated data.

Forecasting 220

Forecasting Forecasting Software Demand Planning Software Modeling 220

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

JUNE 22, 2021

ToolsGroup’s supply chain planning software allows Italy’s largest grocery retailer to improve forecast accuracy, model promotional events, and improve visibility and collaboration with cooperatives. The challenge that Conad has posed to us is to apply our technologies in a complex multi-channel distribution system.

Forecasting 120

Forecasting Forecasting Software Supply Chain Planning Software ToolsGroup 120