Revisiting Transportation Forecasting

Talking Logistics

Many companies have collaborative planning and forecasting processes with suppliers and manufacturing partners, but very few companies translate demand and production forecasts into transportation capacity requirements. In this episode, Adrian discusses the key challenges and opportunities associated with transportation forecasting. Watch as Adrian discusses: Two key reasons why transportation forecasting has been a challenge to implement.

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.

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[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.

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.

Freight Transportation & the Coronavirus: Forecasting the Near-Term Effects with MIT Professor Yossi Sheffi [Podcast]

CHAINalytics

The post Freight Transportation & the Coronavirus: Forecasting the Near-Term Effects with MIT Professor Yossi Sheffi [Podcast] appeared first on Chainalytics. Blog Feature Freight Market Intelligence Consortium Supply Chain Intelligence Transportation Coronavirus COVID-19 Crisis Management FMIC FMIC Pulse freight transportation risk management Risk Mitigation Transportation Intelligence

How Does Demand Sensing Differ from Forecasting for Demand Planning?

Logility

For today’s supply chain planner, the art and especially the science of forecasting demand have evolved. Traditionally, forecasting models were based on time series techniques that create a forecast based on prior sales history. However, where past sales are sufficient for predicting future forecast levels in mid- and long-term planning horizons, they have shown to be less accurate for short-term planning. The limitations of time-series forecasting.

Why CPG Demand Forecasting Has Hit a Ceiling

ToolsGroup

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. Across the CPG industry, demand forecast errors increased in 2014 and were unchanged in 2015, according to Gartner analyst Steve Steutermann.

Forecast Accuracy at the SKU Level is Achievable

Logility

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. Gartner, for example, places demand forecasts at the top of their Hierarchy of Supply Chain Metrics to highlight the impact of forecasts throughout the supply chain.

The What, Why, and How of Transportation Forecasting

Talking Logistics

Many companies have collaborative planning and forecasting processes with suppliers and manufacturing partners, but very few translate demand and production forecasts into transportation capacity requirements. What factors are driving the need for transportation forecasting? Read more The What, Why, and How of Transportation Forecasting. Episode Highlights E2open Gary Barraco TMS transportation forecasting transportation management systems

Sales Forecasting Unchecked – A Supply Chain Nightmare!

Supply Chain Game Changer

The Planning and Budget cycle within most companies must start with a forecast of future sales and revenue. The Sales and Marketing team is usually responsible for pulling that forecast together. They are likely to pull together several sources of data in order to create that revenue forecast. And to round out their forecast the Sales and Marketing team will have to include some estimates of new, but as yet not closed, business. What Happens When Forecasts Are Wrong?

Improving Forecast Accuracy Through Demand Sensing

Supply Chain @ MIT

Typically, these algorithms only have one or two sources of information (data sets) to derive the forecast for the next period. As the field of business forecasting develops, technological improvements allow companies to experiment with more advanced […].

A Transportation Network is Your Pit Crew

Talking Logistics

You’ve developed a well thought out transportation plan that supports your supply chain. You’ve conducted a transportation procurement event and have agreements in place with carrier partners to provide the type of capacity you need, where and when you need it. You’ve communicated the final transportation plan and carrier strategy to your internal and external constituents, and have made essential business process changes to ensure successful execution.

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. This includes production elements such as material sourcing, job allocation, transport logistics, production scheduling, inventory optimization and more. Accurate demand-supply forecasting can easily contribute to achieving the most optimum production scheduling on the factory floor.

Blockchain & Transportation Management: How Will the Ledger Technology Impact Shippers?

Cerasis

The promise of an incorruptible ledger for use in transportation management will reduce inefficiencies and create opportunities in supply chains. With the potential blockchain growing with the interest of software giants, more supply chains are turning to blockchain & transportation management with open arms. This results in higher costs of implementation and delays in effective transportation management using new technologies. Blockchain Transportation Management

[Video] The What, Why, and How of Transportation Forecasting

Talking Logistics

Gary Barraco, Senior Director of Product Marketing at E2open, discusses transportation forecasting: what it is, why it is important, and how to enable it. Podcast version (click to play): The post [Video] The What, Why, and How of Transportation Forecasting appeared first on Talking Logistics with Adrian Gonzalez. Gary Barraco, Senior Director of Product Marketing at E2open, discusses transportation forecasting: what it is, why it is important, and how to enable it.

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. This includes production elements such as material sourcing, job allocation, transport logistics, production scheduling, inventory optimization and more. Accurate demand-supply forecasting can easily contribute to achieving the most optimum production scheduling on the factory floor.

Transportation is the Great Enabler of Supply Chain Excellence

Talking Logistics

I believe transportation is the least complex, yet most critical component of the supply chain. And if that isn’t enough to create a bias, maybe these well-known facts will: transportation costs represent the biggest slice of the supply chain cost pie (nearly 60 percent of every supply chain dollar is spent on transportation), and transportation costs can represent 3-12 percent of revenue or more depending on the product type and industry.

What Is the Impact of Big Data in the Transportation & Supply Chain Industries?

Cerasis

This graphic shows the true scope of impact of big data in the Transportation, SupplyChain & Logistics industries. . But nearly all of these processes revolve around a few common factors, reports DHL Customer Solutions & Innovation, and you need to understand what they mean for the supply chain and transportation industries. . In other words, selecting the best way to consolidate, mix and transport products can help attain a goal of $0 shipping in the eyes of consumers. .

E-Commerce and TMS: The Role of Transportation Technology for Shippers to Kill It at E-Commerce

Cerasis

Transportation managers are spending upward of 80 percent of working hours just looking for available shipping capacity, reports Talking Logistics , reflecting a portion of companies that have not leveraged the power of a TMS. E-Commerce Logistics Technology TMS Transportation

MIT Center for Transportation & Logistics: Improving Forecast Accuracy through Demand Sensing

Supply Chain 24/7

Students in the MIT Center for Transportation & Logistics’ Master of Supply Chain Management program spent a year mapping a manufacturer’s forecasting process to help determine if Demand Sensing was a worthwhile ambition to pursue

How does Demand Sensing differ from Forecasting for Demand Planning?

Halo

For today’s supply chain planner, the art and especially the science of forecasting demand have evolved. Traditionally, forecasting models were based on time series techniques that create a forecast based on prior sales history. However, where past sales are sufficient for predicting future forecast levels in mid- and long-term planning horizons, they have shown to be less accurate for short-term planning. The limitations of time-series forecasting.

6 Benefits of Transportation Consolidation Programs & How They Reduce Freight Spend

Cerasis

As a result, more supply chain entities are turning to transportation consolidation programs otherwise known as truckload consolidation, explains Joseph O’Reily of Inbound Logistics , to meet these demands. What Is a Transportation Consolidation Program? Before you can understand how a transportation consolidation program functions and benefits companies by reducing freight spend , you need to understand a few things about transportation costs and concerns.

The Top 5 Reasons You Need a Transportation Sourcing Solution

Talking Logistics

However, if your role is managing the movement of widgets from point A to point B, or multiple points, the freight procurement task before you can be labor intensive and time consuming — unless you use a technology solution specifically designed for transportation sourcing. Here are the top five reasons you need a transportation sourcing solution: 1. Freight sourcing is as unique and complex as the transportation industry itself.

High-steaks business planning: Are you meating your forecast?

DELMIA Quintiq

Your planners need to be able to identify and address any gap between forecasted and actual volumes. A single integrated solution – from S&OP to production planning to factory and transportation scheduling. There’s nothing better and more delicious than a cold beer and plate of sizzling meat, don’t you agree? With Oktoberfest having started on Saturday and Christmas around the corner, the rising demand for meat will mean one of the busiest times for the industry.

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. This includes production elements such as material sourcing, job allocation, transport logistics, production scheduling, inventory optimization and more. Accurate demand-supply forecasting can easily contribute to achieving the most optimum production scheduling on the factory floor.

Greater Supply Chain Savings Thanks to Transportation Management

Cerasis

Therefore, more companies have partnered with third-party logistics providers ( 3PLs ) to achieve greater supply chain savings and presence in such markets through enhanced transportation management systems ( TMSs ). To maintain your role in the global market, you need to understand how 3PLs contribute to an improve transportation networks. Greater Supply Chain Savings Thanks to Transportation Management. Why Do Supply Chains Need Transportation Management?

Where Do the Savings from Managed Transportation Services Come From?

Talking Logistics

Managed transportation service providers work to deliver transportation solutions to maximize service at the lowest cost through people, process, and technology. The process involves investigating the current transportation activities and engaging in new opportunities for cost-savings while optimizing service levels. A recent ARC Strategies study on managed transportation services found, on average, MTS can save a company between 2 and 10 percent of its transportation spend.

Why Logistics and Transportation Should Digitize

3rdwave

While the Logistics transactional activities – such as freight quotation management, freight contract management, shipment execution and transportation tracking – are important, in and of themselves, these individual activities fail to deliver to their potential if they are not orchestrated, synchronized and communicated. 5 Reasons Logistics and Transportation Should Digitize. Optimized total landed cost forecasting and budgeting. What is Digitization?

Navigating Ongoing International Transportation Capacity Challenges

Talking Logistics

International transportation is dealing with ongoing challenges of tighter capacity. From import space and export space tightening up and a hot drayage market causing capacity constraints to volatile air freight rates – international transportation has had its share of challenges the last 10-12 months. Examining and sharing inventory forecast data with supply chain partners can help you be proactive with your international transportation partners in order to get the space you need.

Overcome Foodservice Disruptions: Focus on Technology, Service Networks, and Transportation

CH Robinson Transportfolio

Thanks to the global pandemic, forecasting fresh food demands has gotten infinitely more difficult. Understanding today’s transportation market. Transportation capacity, namely truckload, is highly fragmented. Changing transportation strategies.

What Value Are You Getting From Planning?

Supply Chain Shaman

Spiraling transportation costs, tariff shifts and increased expectations for customer service sparks new interest in supply chain planning. Outsourcing–procurement, manufacturing and transportation– decreased visibility and increased data latency. 2) Forecast Value Added.

Transportation TIP List: Week of February 24th, 2019

Transplace

Transportation TIP List: Week of February 24 th , 2019. To try to get us into the spirit of spring, this week’s TIP List includes a plethora of bright trends impacting the future of transportation such as the impact of technology on the supply chain and the current state of the economy. State of the Economy is Sound” and Forecasts Retail Sales Will Grow : The NRF recently forecasted that retail sales during 2019 will increase between 3.8%

Episode 96 - Transportation Market Update with Dr. Jason Miller

Aborn and Co.

Withrow Endowed Emerging Scholar at Michigan State University's Eli Broad College of Business, regarding his work in analyzing and forecasting truckload data. Forecasting the future.

Taking the “Ouch” Out of Transportation Costs

Talking Logistics

However, the biggest pain point for these global supply chains is the one that seems inescapable – transportation costs. Pain Points Increasing Transportation Costs. No matter how much can be saved from sourcing globally, transportation costs continue to creep in to seriously affect a product’s profit margin. A 2017 Global Sourcing study from American Shipper magazine found that 58% of shippers said their highest concern today is rising transportation costs.

What’s the ROI Of Transport and Logistics Providers & A TMS?

Cerasis

Much talk about sales, automation and improved processes dominate the conversation when considering outsourcing logistics processes to a transport and logistics providers or using a 3PL-based transportation management system (TMS). Often, the transport and logistics providers' reps claim initial returns may be as high as 25 percent, if not greater. There are many benefits that accompany the use of transport and logistics providers and their TMS systems.