ToolsGroup

FEBRUARY 6, 2018

Financial executives measure inventory health with metrics like inventory turns because they view the firm from a financial viewpoint - such as how much working capital is being tied up. Gartner delved into this issue in a recent report, Build the Capability for Inventory Health Assessment.

Inventory Reduction 159

Inventory Reduction Inventory Material Savings Gartner 159

ToolsGroup

SEPTEMBER 25, 2019

September 26, 2019) A new study by ToolsGroup, a global leader in supply chain planning software, and Spinnaker, a supply chain services company, has found that only 7% of companies are reaping the benefits of digital transformation of supply chain planning. About ToolsGroup. BOSTON, Mass. and HOUSTON, Tex. About Spinnaker.

Supply Chain Planning Software 136

Supply Chain Planning Software Supply Chain Planning Optimal Sourcing Supply Chain Software 136

ToolsGroup

AUGUST 20, 2019

Several years ago ToolsGroup pioneered business process outsourcing (BPO) as an alternative to in-house supply chain planning (SCP). Gartner says that the most common outsourced SCP processes are inventory management, statistical forecasting and service parts planning. Driven by improvements in performance and cost. versus $4.84

Supply Chain Planning Software 136

Supply Chain Planning Software Supply Chain Planning Gartner Supply Chain Software 136

ToolsGroup

JANUARY 22, 2020

In my decades of working in replenishment and inventory optimization, I’ve noticed that many companies seek solutions to symptoms rather than the underlying problem. They want to have an aging report for inventory or a report on vendor performance. Let’s examine the first: inventory aging reports.

Optimization Software 199

Optimization Software Inventory Reduction Forecasting Software Supply Chain Planning Software 199

ToolsGroup

MARCH 3, 2022

However, ignoring the effect of something with such a profound impact on consumers’ day-to-day lives can lead to severe miscalculations in everything from sales and inventory to markdowns and staffing levels. Allocation: Increase sales and minimize markdowns by aligning store inventories ti weather-based shifts in sales.

Forecasting 156

Forecasting Forecasting Software Procurement Analytics Retail 156

ToolsGroup

MAY 3, 2016

If you (or your boss) are measured by your company's Return on Invested Capital (ROIC) or a similar metric, then you want to turn assets into cash. Inventory optimization is one proven way to do it. Inventory is an untapped, cash-rich asset. Inventory is an untapped, cash-rich asset. Of course, you need inventory.

Optimal Sourcing 120

Optimal Sourcing Modeling Inventory Reduction Optimization Software 120

ToolsGroup

SEPTEMBER 22, 2020

That means there are many companies out there struggling to make sense of constantly shifting demand data and to make smart inventory optimization decisions. Examples are: customer experience metrics, feedback on new product features and pricing, customer satisfaction and loyalty, and competitive intelligence.

Supply and Demand 156

Supply and Demand Gartner Supply Chain Design Software Supply Chain Planning Software 156

ToolsGroup

SEPTEMBER 20, 2022

Using this data, advanced predictive models can estimate when failures are likely to occur and recommend appropriate timelines to perform corrective measures, allowing manufacturers to organize their production schedules based on predicted equipment availability metrics. Optimize spare part inventories.

Manufacturing Procurement 156

Manufacturing Procurement Supply Chain Design Software Optimal Sourcing Supply Chain Planning Software 156

ToolsGroup

DECEMBER 16, 2021

Inventory is retailers’ greatest asset AND liability. Nearly all of most retailers’ capital is tied up in their inventory, so it’s crucial to make sure that every item counts. Set clear objectives and KPIs for the metrics we discussed above, and make swift moves to meet them. Retailers are losing $1.75

Agile and Lean Supply Chain 156

Agile and Lean Supply Chain Lean Retail Supply Chain Planning Software 156

ToolsGroup

DECEMBER 16, 2021

By understanding inventory needs from a financial perspective, including revenue and margin, retailers gain insight into their open-to-buy process and, as part of their merchandise financial planning, ensure the organization will not overspend merchandising budgets. Improve Inventory Flexibility. What is an open-to-buy ?

Supply Chain Planning Software 156

Supply Chain Planning Software Retail Supply Chain Planning Scenario Planning 156

ToolsGroup

APRIL 26, 2023

This is why ToolsGroup is excited to announce significant enhancements to our JustEnough Dynamic Retail Planning & Execution solution. Connecting real-time inventory insights with merchandise planning applications enables truly dynamic retail planning. Debuting ToolsGroup JustEnough Officially announced in January, v2023.1

ToolsGroup 156

ToolsGroup Supply Chain Planning Software Supply Chain Planning Scenario Planning 156

ToolsGroup

NOVEMBER 27, 2018

According to Ben, who oversees Chainalytics’s Integrated Demand and Supply Planning practice (which includes their Demand Planning Intelligence Consortium), many companies take last year's forecast accuracy metric and simply add a few percentage points to establish the coming year’s goals.

Forecasting 214

Forecasting Forecasting Software Supply and Demand Modeling 214

ToolsGroup

SEPTEMBER 17, 2019

Demand forecasting augmented by machine learning helps you better meet customer expectations with reduced inventory investment . The ultimate impact of a good–or poor–understanding of seasonality is on finding optimal inventory levels to balance cost and service. . By Alex Achour.

Supply and Demand 159

Supply and Demand Demand Planning Software Forecasting Forecasting Software 159

ToolsGroup

NOVEMBER 15, 2016

According to Ben, who oversees Chainalytics’ Demand Planning Intelligence Consortium , many companies take last year's forecast accuracy metric and simply add a few percentage points to establish the coming year’s goals. Inventory and CapEx required to support desired service levels. And how do you set your targets for the coming year?

Forecasting 120

Forecasting Forecasting Software Supply and Demand Modeling 120

ToolsGroup

APRIL 25, 2019

Without baseline metrics on what you want to improve on and why, how can you be confident your strategy is working? And because machine learning systems get smarter over time, having a consistent method of measurement is even more important to ensure you can accurately track how outcomes and ROI are improving against established metrics.

Supply and Demand 227

Supply and Demand Demand Planning Modeling Supply Chain Planning Software 227

Supply Chain Shaman

NOVEMBER 3, 2015

The Acquisition Is a Mixed Bag for the Inventory Management Market. While this acquisition rolls up assets across three planning horizons in the inventory optimization market, I think the impact of this acquisition is less clear on the future of the inventory optimization market than for the network design software market.

Supply Chain Design Software 0

Supply Chain Design Software Supply Chain Planning Software Network Design Software Supply Chain Software 0

ToolsGroup

JUNE 8, 2021

6 Focus on the wrong metric. RFIs also assume the organization is focusing on the right metrics. There may be a better way to approach forecasting, but it’s not captured in the RFI because no one has any experience with it. #6 Using forecasting as an example again, supply chain RFIs often emphasize forecast accuracy.

Supply Chain Planning Software 245

Supply Chain Planning Software Forecasting Software Supply Chain Software Optimization Software 245

ToolsGroup

OCTOBER 11, 2017

Gartner says that you shouldn’t just pitch forecast accuracy to your executive management, but translate your plan into business metrics. You must be able to make a direct link between the forecasting accuracy improvement and customer service, cost, efficiency, inventory, cash flow or capability improvements,” says Gartner.

Forecasting 180

Forecasting Supply and Demand Forecasting Software Optimal Sourcing 180

ToolsGroup

MAY 24, 2016

Most companies segment their supply chain by breaking it down according to operational and logistical metrics. This approach of focusing on the customer for supply chain segmentation can also be applied to inventory segmentation. In a blog earlier this year entitled What's wrong with ABC inventory classification?

Supply Chain Segmentation 159

Supply Chain Segmentation Optimal Sourcing Gartner Supply Chain Optimization 159

ToolsGroup

JUNE 2, 2023

Suddenly, managing inventory is the name of the game for companies trying to manage working capital and maximize profit while keeping customers happy. And that’s where real-time perpetual inventory signals come in. Plus, accurate inventory information is the key to optimal decision-making.

Real-time Visibility 294

Real-time Visibility Manufacturing Procurement Optimal Sourcing Inventory Reduction 294

ToolsGroup

JANUARY 9, 2018

Companies can calculate the demand plan, project their inventory requirements, and compare scenarios to calculate the best balance of constraints and trade-offs. Uniting planning and operations in one model also enables companies to reconcile customer constraints with their own high-level decisions and performance metrics.

Modeling 179

Modeling Scenario Planning Optimization Modeling S&OP 179

ToolsGroup

JULY 11, 2017

Gartner recommends multiplying the planned unit volume: by price to generate monetized revenue plans, by cost to generate monetized inventory plans, by margin to generate monetized profit plans. 4-9% decrease in the value of obsolete inventory as a percentage of total stocked goods (product costs).

S&OP 92

S&OP Supply and Demand Inventory Reduction Price Reduction 92

Supply Chain Shaman

OCTOBER 8, 2017

If we look back at history, 70% of companies implemented Vendor Managed Inventory (VMI), however two-decades later only 1% of companies use VMI processes to drive a better demand signal. ” At the other end of the continuum is the argument that “ Forecast error is the most important metric to improve.”

Supply and Demand 156

Supply and Demand Supply Chain Design Software Supply Chain Planning Software Forecasting Software 156

ToolsGroup

MARCH 5, 2019

This, together with lack of visibility, poor planning capability and outdated assets due to high cost of capital, results in ad hoc decisions made in functional silos that are more focused on cost and inventory risk avoidance and less on service, thereby contributing to inefficient (and often, inflexible) supply chain processes.”

Supply Chain Planning Software 159

Supply Chain Planning Software Supply Chain Planning Supply Chain Design Software Scenario Planning 159

Supply Chain Shaman

MARCH 8, 2016

In 2007-2014 Terra added inventory management, multi-tier demand sensing, transportation forecasting, and long-term forecasting. While ToolsGroup and SAP (with the acquisition of SmartOps) are the nearest competitors, Terra prided itself on delivering better decisions through better math.

Supply Chain Planning Software 150

Supply Chain Planning Software Supply Chain Network Software Forecasting Software Demand Planning Software 150

ToolsGroup

MARCH 1, 2018

By using data to stock items with higher forecasted demand, they can reallocate cash that would normally be tied up in poorly performing inventory, avoid margin erosion from markdowns and dead stock, and increase overall on-shelf availability metrics. Engineer Profit.

Inventory Reduction 189

Inventory Reduction Retail Inventory Supply Chain Planning Software 189

ToolsGroup

SEPTEMBER 17, 2019

Demand forecasting augmented by machine learning helps you better meet customer expectations with reduced inventory investment . The ultimate impact of a good–or poor–understanding of seasonality is on finding optimal inventory levels to balance cost and service. . By Alex Achour.

Supply and Demand 24

Supply and Demand Demand Planning Software Forecasting Forecasting Software 24

ToolsGroup

APRIL 1, 2022

Such measures include communicating with suppliers and customers , using demand shaping to overcome inventory shortages, seeking additional suppliers, and building more onshore facilities. Within a week of Russian troops crossing into Ukraine, the benchmark for thermal coal prices reached a record high of $446 per metric ton.

Material Savings 207

Material Savings Purchasing Skills Supply Chain Planning Software Manufacturing Procurement 207

ToolsGroup

MARCH 18, 2019

They also cut inventory levels, grew sales and resolved capacity issues. Establish joint responsibility for inventory to reduce the risk of obsolescence. Mohawk continues to fine-tune its S&OP process to optimize inventory in the planning system. Their S&OP program, however, was only the beginning.

Supply Chain Planning Software 228

Supply Chain Planning Software Supply Chain Planning Scenario Planning Agile and Lean Supply Chain 228

ToolsGroup

AUGUST 29, 2017

They cite manufacturers and retailer benefits such as 20% reduction in inventory, 10% improvement in customer service levels, 10% increase in revenue, and 25% increase in available capacity. Gartner reports a strong correlation between supply chain organizations that use analytics and improved business performance.

Modeling 189

Modeling Prescriptive Analytics Software Analytics Software Modeling Software 189

ToolsGroup

DECEMBER 21, 2015

Or even more important, that you may not be getting the service levels and inventory efficiencies that you need. The number of companies is growing that are saying that their forecast accuracy, service levels and inventory efficiency metrics have hit a ceiling that they just can’t get past. And if that’s true, you are not alone.

Forecasting 120

Forecasting Forecasting Software Demand Planning Software Supply and Demand 120

ToolsGroup

OCTOBER 4, 2016

Unmanned coffee stations transmit POS data every 15 minutes to help forecast demand, optimize inventory, and generate replenishment proposals for distribution and procurement; SCP software calculates the refill order requirements nightly for frequent, low-volume deliveries. Both companies described their implementations as transformational.

Supply Chain Planning Software 254

Supply Chain Planning Software Supply Chain Planning Scenario Planning Supply Chain Software 254

ToolsGroup

JULY 28, 2015

service levels with 20% inventory reductions. When demand is variable and intermittent, classic forecasting and inventory models do not perform well – many consider items with very low demand rates “unforecastable.” Traditional “single number” forecasts and forecast accuracy metrics are nearly meaningless in the long tail environment.

Supply Chain Design Software 120

Supply Chain Design Software Modeling Supply Chain Planning Software Supply Chain Design 120

ToolsGroup

JULY 10, 2018

It often employs statistical metrics like MAPE (mean average percentage error), which has hit a wall in recent years due to increased demand volatility and this approach's mostly backward-facing nature. Demand signals can include downstream demand such as “sell out” or POS data and downstream inventory levels. Demand Planning.

Supply and Demand 192

Supply and Demand Demand Planning Software Forecasting Forecasting Software 192

Supply Chain Shaman

JUNE 6, 2015

Inventory piles up and revenues gaps are closed by pushing product into the market. Lastly, I would implement a demand sensing technology–either ToolsGroup or Terra Technology - to replace rules-based consumption of the forecast to improve replenishment. The gap is then applied to the fourth quarter.

Supply Chain Planning Software 150

Supply Chain Planning Software Supply Chain Design Software Forecasting Software Demand Planning Software 150

ToolsGroup

JULY 10, 2018

It often employs statistical metrics like MAPE (mean average percentage error), which has hit a wall in recent years due to increased demand volatility and this approach's mostly backward-facing nature. Demand signals can include downstream demand such as “sell out” or POS data and downstream inventory levels. Demand Planning.

Supply and Demand 120

Supply and Demand Demand Planning Software Forecasting Forecasting Software 120

ToolsGroup

MARCH 9, 2021

In some cases, Amazon does their inventory management and their actual customer fulfillment. If they’re selling on Amazon, well, what does Amazon do? Amazon controls all their customer information. There’s some consternation in that. So there’s a lot of dependency.

Predictive Analytics Software 156

Predictive Analytics Software Supply Chain Planning Software Predictive Analytics Supply Chain Design Software 156