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Demand forecasting is a critical strategy for supplychain management that can dramatically improve business decision-making and financial performance. Beyond Forecast Accuracy: A Holistic Approach Demand forecasting is just one piece of the supplychain management puzzle.
Ideally, it connects sales, marketing, supplychain, finance, and operations in a seamless flow. According to Gartner , early stages of S&OP maturity often lack formal processes, metrics, and cross-functional participation. It connects strategy and execution with features built for modern supplychains: 1.
Disruptions in the supplychain happen with surprising regularity. Financial crises, global tensions, supply shortages, technological innovations, and regulatory changes are inevitable we just cant predict when theyll strike. ToolsGroup pioneered and perfected it. New to probabilistic forecasting?
Machine learning (ML)a specialized field within artificial intelligence (AI)is revolutionizing demand planning and supplychain management. These improvements directly strengthen the bottom line, making ML capabilities an essential component of modern supplychain management software.
The software company earns Leadership recognition in supplychain planning and demand planning across regions. BOSTON – January 15, 2023 – ToolsGroup, a global leader in retail and supplychain planning and optimization software, is proud to be recognized as a Leader in five separate G2 Winter 2024 reports.
Teaming up with ToolsGroup, the Italian frozen seafood company chooses AI to advance its supplychain processes and guarantee a superior consumer experience. D.I.MAR holds itself to the highest standard when it comes to the quality of our products,” said Alessandro Evandri, SupplyChain Manager. “We
BOSTON, February 16, 2022 : ToolsGroup , a global leader in supplychain planning and optimization software, has partnered with Planalytics to integrate their weather-driven demand (WDD) analytics with ToolsGroup’s retail planning solutions, enabling customers to isolate, measure, and manage the influence of weather on their businesses.
ToolsGroup welcomes Jon Purdy as Chief Financial Officer and Joseph Luciano as Chief People Officer. . BOSTON — August 4, 2022 — ToolsGroup , a global leader in AI-driven retail and supplychain planning and optimization software, announces it has appointed Jon Purdy as Chief Financial Officer and Joseph Luciano as Chief People Officer.
More and more businesses are hopping on the outsourcing bus and letting the experts take the wheel to drive supplychain planning processes. Several years ago ToolsGroup pioneered business process outsourcing (BPO) as an alternative to in-house supplychain planning (SCP). versus $4.84 per $1000 of revenue).
Customer reviews consistently rank ToolsGroup highly in G2’s SupplyChain Planning and Demand Planning Categories. This achievement underscores ToolsGroup’s commitment to excellence and innovation in the supplychain industry. See ToolsGroup’s G2 reviews HERE. Our customers’ success is our success.
This is why ToolsGroup is excited to announce significant enhancements to our JustEnough Dynamic Retail Planning & Execution solution. has fundamentally shifted the narrative on what is possible with ToolsGroup’s retail planning solution. Debuting ToolsGroup JustEnough Officially announced in January, v2023.1
By George Fowler, group vice president, Spinnaker SupplyChain. ToolsGroup and Spinnaker recently partnered up on a digital transformation study, and we found that only 7% of responding companies are reaping the benefits of digital transformation of supplychain planning. What’s driving you, or holding you back?
More and more businesses are hopping on the outsourcing bus and letting the experts take the wheel to drive supplychain planning processes. Several years ago ToolsGroup pioneered business process outsourcing (BPO) as an alternative to in-house supplychain planning (SCP). versus $4.84 per $1000 of revenue).
September 26, 2019) A new study by ToolsGroup, a global leader in supplychain planning software, and Spinnaker, a supplychain services company, has found that only 7% of companies are reaping the benefits of digital transformation of supplychain planning. BOSTON, Mass. and HOUSTON, Tex.
Therefore, traditional push-driven supplychains are wholly unfit for this situation. 1] Mohawk sought to profit from the resurgent demand for ‘ analog experiences ’ by owning the fine paper space and transforming its extended supplychain. They also cut inventory levels, grew sales and resolved capacity issues.
Advanced Forecasting and AI Evolution With ongoing geopolitical disruptions and supplychain volatility, the need for responsive and sophisticated forecasting capabilities has never been more critical. Retailers implementing these solutions are seeing improvements in customer engagement metrics and repeat purchase rates.
BOSTON (May 5, 2020) ToolsGroup, a global leader in supplychain planning software, today announced a new online COVID-19 SupplyChain Action Center and resources to help companies quickly respond to Coronavirus risks and speed supplychain recovery. Companies Share COVID-19 Response.
Last week at the Gartner SupplyChain Symposium/Xpo™ 2024 conference in Barcelona, the supplychain community gathered for one of the most anticipated events of the year. The conversations were both dynamic and thought-provoking, reflecting the complex and rapidly evolving nature of global supplychains.
Will the supplychain ever catch a break? With every link of the supplychain impacting businesses both large and small, keeping up with the globally disrupted supplychain evolution is a recipe for whiplash. Raw Material Shortages Are Affecting a Challenged SupplyChain.
Retailers need to create plans for these non-traditional sites, as well as other wholesale channels, but often tools for retail planning and execution fail to align with the unique metrics and naming conventions used in wholesale. ToolsGroup has made it even easier to plan for discounts using its new flexible plannable metric: AUT Discount %.
Jassy called generative AI a “once-in-a-lifetime” technology that will change the way the company operates, and said Amazon is already using it in “virtually every corner of the company,” calling out the supplychain areas of inventory and demand planning as examples. The Fed Downgrades GDP Forecast.
Gartner measures supplychain analytics maturity across seven different dimensions. There are supplychain and demand analytics models that describe the type of analytics being deployed (e.g., Gartner reports a strong correlation between supplychain organizations that use analytics and improved business performance.
Supplychain practitioners know trends like product line proliferation, shorter product life cycles, increased complexity, massive amounts of data and ever more demanding and unpredictable customers are accelerating. When social media product promotions overwhelm supplychains.
The business landscape is constantly evolving in today’s world, and supplychain management stands as a cornerstone of operational efficiency, customer satisfaction and overall business success. The ultimate goal of any planning process is to make high-quality decisions that enhance supplychain efficiency and performance.
As an analyst in the battered supplychain software market for a decade, it is fun to watch you grow. For those who are new to reading the SupplyChain Shaman blog, let me begin my analysis with a disclaimer. Here are five recent relevant posts that can add clarity: Wanted: SupplyChain Architects.
Or will companies stumble on the path by mistakenly implementing supply-centric processes and calling them demand-driven initiatives? As a writer of research on demand-driven supplychains for over eight years, I find many amusing. Supplychain leaders feel stuck. They are piling up on my desk. It is still early.
But then, supplychain disruption became the rule instead of the exception, consumers changed their tastes as often as their socks, and global competition started playing hardball. Supplychain is fickle. Once upon a time, the world of manufacturing was a relatively stable place. Let’s take a closer look.
For the purposes of clarity, in this article, the term digital supplychain is the transformation of the atoms and electrons within the supplychain to unleash new levels of value. Here are my predictions for 2018: SupplyChain Excellence as We Know It Is Redefined. SupplyChain Planning Redefined.
Most companies segment their supplychain by breaking it down according to operational and logistical metrics. But there is another way to segment supplychains that begins with the customer. This is important since complexity is intensifying in most supplychains.
A proof of concept (POC) is an increasingly common method to select the best supplychain software vendor for your company, yet many supplychain practitioners still lean on the traditional RFI (request for information) tool. If you’ve been through a supplychain project before, you know that’s not always the case. #2
Unsurprisingly, the highest percentage of respondents in Gartner surveys continue to select demand variability and forecast accuracy as top barriers preventing them from reaching their broader supplychain goals. How much can you realistically expect to improve your forecast accuracy each year?
The annual Gartner SupplyChain Technology User Wants and Needs Study is one of the most comprehensive studies of supplychain users. But they suggest that technology outranks the other four factors in impact on supplychain maturity: Nearly all Stage 1 maturity supplychains are Stage 1 or Stage 2 users of technology.
Supplychain planning in emerging markets is different. Now supplychain professionals have another different set of challenges on how to get product to the entire country where consumer-oriented outlets (i.e. Growing domestic demand can also cause supplychain strategies to change. Here’s what we found: 1.
“By the end of 2020,” asserts the editorial staff at Material Handling & Logistics (MH&L), “one-third of all manufacturing supplychains will be using analytics-driven cognitive capabilities, thus increasing cost efficiency by 10% and service performance by 5%.”[1] What does that mean?
Last week we said that in reality most companies are already partly down the path towards a probabilistic supplychain model. Despite the added complexities in today’s supplychains, traditional SCP systems like SAP APO typically apply the traditional "top-down" approach to forecasting based on aggregated data.
Finance speaks a different language than supplychain. But by monetizing Sales & Operations Planning (S&OP), supplychain planners can speak the language of finance while developing S&OP into a more mature process. Gartner’s research is echoed by Lora Cecere of SupplyChain Insights.
In 2016, it seemed as if everyone in supplychain was looking to improve their forecasting performance. 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.
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. The problem that the supplychain leaders often struggle with is that the definition of what the right inventory levels should be.
In fact, supplychain executives put demand forecasting and supplychain planning at the top of the list of how they initially plan to use AI. Without baseline metrics on what you want to improve on and why, how can you be confident your strategy is working? weather, social media).
Targeting favorable weather time periods and regions/markets enable companies to capture sales from receptive audiences and improve ROAS (return on advertising spend) and other key metrics.
Blog 3 : Charles Blevins, SupplyChain VP at Dart Container , described Dart Solo Cup’s journey in addressing a “long tail” that brought Dart 99.6% ERP solutions and traditional supplychain planning solutions are not well suited for complexity of the long tail. service levels with 20% inventory reductions.
I know of few areas in supplychains discussion that raise as much dialogue or ire. ” At the other end of the continuum is the argument that “ Forecast error is the most important metric to improve.” Most supplychain leaders can easily conceive supply flows, but not those of demand.
AI technology is continually revolutionizing how equipment and humans operate on the manufacturing shop floor as well as improving the behind-the-scenes supplychain planning operations. At the same time, consumer demands keep changing depending on product qualities, pricing , and supplychain constraints.
In the first two blogs of this series, we explored the foundational concepts of decision-centric planning and how it can revolutionize supplychain management, addressing real-world challenges with agility and responsiveness. Companies that cling to outdated, rigid planning methods risk falling behind.
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