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

ToolsGroup

NOVEMBER 27, 2018

Editor’s Note: Two years ago we posted a blog about how to set an annual forecast accuracy target and it was one of our most popular topics. It seems as if everyone is looking to improve their forecasting performance. How much can you realistically expect to improve your forecast accuracy each year?

Forecasting 214

Forecasting Forecasting Software Supply and Demand Modeling 214

Supply Chain Shaman

OCTOBER 16, 2023

A shift from functional metrics to a balanced scorecard. I like the use of growth, margin, inventory turns, Return on Invested Capital, customer service and ESG metrics. The focus on functional metrics sub-optimizes balance sheet results. Improved Forecast Value Added (FVA). A Focus on ‘One-Number Forecasting.’

S&OP 346

S&OP Supply and Demand Forecasting Supply Chain Design Software 346

Unleashed

MAY 1, 2023

Demand forecasting has gained increasing importance over the last few years. We met with five supply chain experts to discuss how crucial demand forecasting is for mitigating risk, and what businesses can do to improve forecast accuracy. Our experts explain that best-practice demand planning begins with a top-down forecast.

Forecasting 96

Forecasting Supply and Demand Modeling Forecasting Software 96

Logility

JANUARY 14, 2020

Year after year, survey after survey, forecast accuracy continues to be one of the top metrics for measuring supply chain performance. Russell Goodman, editor-in-chief at SupplyChainBrain , sat down with several supply chain leaders to discuss the impact of Forecast Accuracy on driving better decision making.

Supply and Demand 130

Supply and Demand Forecasting Demand Planning Modeling 130

ToolsGroup

OCTOBER 11, 2017

I’ve always maintained that improving demand forecast accuracy, as helpful as it can be, shouldn’t be the end goal itself, but simply a means to the end. A recent report from Gartner agrees, focusing specifically on the challenge of building a better business case for improved forecast accuracy.

Forecasting 180

Forecasting Supply and Demand Forecasting Software Optimal Sourcing 180

ThroughPut

MARCH 24, 2024

Demand planning and forecasting in the traditional sense relied heavily on a combination of limited and biased data and gut instinct. Delayed delivery of performance metrics and consumer behavior sets off a chain reaction of excess, wastage, and loss of profits. Why do you Need Modern Demand Sensing to Solve Modern Problems?

Supply and Demand 52

Supply and Demand Optimal Sourcing Forecasting Modeling 52

New Horizon Supply Chain Blog

AUGUST 30, 2023

Introduction I was recently in a conversation about forecasting with a client team, and one individual, whose background was not in supply chain, asked what the value of demand forecasting is. Inventory metrics are less intuitive, but ever since U.S. The link between forecast accuracy and corporate goals is less clear.

Forecasting 52

Forecasting Supply and Demand Material Savings Inventory Reduction 52

Logility

APRIL 23, 2020

So, the promise of using statistical algorithms, forecasting and predictive analytics is now added to the list of a company’s number one priorities. Here are a few steps that you will need to take to deploy your forecasts successfully. Evaluate the forecasting power against the risk level of the decisions that are being made.

Forecasting 148

Forecasting Forecasting Software How To Procurement Analytics 148

Arkieva

OCTOBER 14, 2020

In this blog, we will illustrate through an example of these potential pitfalls (unanchored, random variation, and narrow metrics) and potential negative impact on a firm. Insight from Applied Statisticians for Forecasting: Is It Worth the Effort and the Mirage of Random Variation was first posted on October 14, 2020 at 8:09 am.

Forecasting 144

Forecasting Metrics Examples Modeling 144

Arkieva

MARCH 19, 2019

Stop using traditional forecast accuracy metrics to measure forecast for sporadic demand patterns. How to Measure Forecast Errors in Intermittent Demand Forecasting was first posted on March 19, 2019 at 12:19 pm. Use this method instead.

Forecasting 70

Forecasting Supply and Demand How To Metrics 70

GlobalTranz

MARCH 18, 2020

In early 2020, the market forecast for freight looked bright. The post What Are the Most Important 2020 Freight Metrics to Know? The post What Are the Most Important 2020 Freight Metrics to Know? The turmoil of the U.S.-China China trade war appeared at an end, and few disruptions were believed to cause issues in 2020.

Metrics 156

Metrics Freight Forecasting China 156

Supply Chain Shaman

MARCH 21, 2024

In my first classes, I taught the group how to speak the language of demand—forecastability, Forecast Value Added (FVA), backcasting, demand and market latency, and market drivers. 40-50% of items are not forecastable at an item/location level. Lack of aligned metrics. Instead, we need to Jump. The So What?

Inventory Reduction 414

Inventory Reduction Supply Chain Planning Software Cost Reduction Strategies Supply Chain Design Software 414

Logility

AUGUST 23, 2016

I have heard a number of supply chain professionals proclaim that their companies should stop forecasting product demand due to poor forecast accuracy. However, what is often overlooked is that moving to a pull strategy does not eliminate the need for a forecast. It’s the old Push – Pull argument. Financial Impact.

Forecasting 100

Forecasting Forecasting Software Supply and Demand Inventory Reduction 100

New Horizon Supply Chain Blog

JULY 15, 2022

I was recently in a conversation about forecasting with a client team, and one individual, whose background was not in supply chain, asked what the value of demand forecasting is. Inventory metrics are less intuitive, but ever since U.S. The link between forecast accuracy and corporate goals is less clear.

Forecasting 52

Forecasting Supply and Demand Material Savings Inventory Reduction 52

SCMDOJO

SEPTEMBER 8, 2023

This blog explains The Key MRP Metrics in Supply Chain whcih every supply chain professional in Manufacturing or Distribution Businesses. The metrics that underpin MRP could be described as the balls in this juggling act. This article takes an in-depth look at the crucial metrics every supply chain professional needs to know.

Procurement Analytics 84

Procurement Analytics Supply Chain Planning Software Supply Chain Design Software Metrics 84

Supply Chain Shaman

SEPTEMBER 25, 2017

And, even if we can afford the costs, we don’t get good answers with our current forecasting processes,” stated the supply chain leader on the phone. Inherently, business leaders know that traditional forecasting processes are inadequate. The bad news is unlearning traditional forecasting processes is hard.

Forecasting 152

Forecasting Forecasting Software Supply Chain Planning Software Demand Planning Software 152

ToolsGroup

NOVEMBER 15, 2016

In 2016, it seemed as if everyone in supply chain was looking to improve their forecasting performance. Unsurprisingly, the highest percentage of respondents in a recent Gartner/Supply Chain Digest survey selected forecast accuracy and demand variability as the top barriers preventing them from reaching their broader supply chain goals.

Forecasting 120

Forecasting Forecasting Software Supply and Demand Modeling 120

Supply Chain Shaman

JUNE 29, 2021

Using balance sheet data from 2011 to 2019, we chart companies’ progress by peer group on rate of improvement and performance in the metrics of growth, operating margin, inventory turns, and Return on Invested Capital (ROIC). Let me share some and see what you think: Does forecast ownership make a difference in outcomes?

Supply Chain Planning Software 370

Supply Chain Planning Software Supply Chain Design Software Supply Chain Planning Supply Chain Design 370

Supply Chain Shaman

MAY 21, 2024

In follow-up qualitative interviews, one of the largest issues with organizational alignment was metric definition and a clear definition of supply chain excellence. In my post Mea Culpa, I reference my work with the Gartner Supply Chain Hierarchy of Metrics. Error is error, but is it the most important metric? My answer is no.

Procurement Analytics 360

Procurement Analytics Optimal Sourcing Metrics Supply Chain Planning Software 360

Supply Chain Shaman

DECEMBER 28, 2020

The SAS forecasting system implemented in 2019 was not tested for model accuracy. An example for this client would be to use 2017 and 2018 history to forecast 2019. So, I asked the questions, “Is your data forecastable? Data at this level of variability is complicated to forecast.) The reason? The answer?

Supply Chain Planning Software 418

Supply Chain Planning Software Forecasting Forecasting Software Modeling 418

Silvon Software

JUNE 23, 2020

As I mentioned in my previous post, Sales Dashboards – 16 Metrics for Manufacturers , a strategy for measuring business performance should also incorporate metrics that focus on the supply chain and other operational areas of the enterprise. Sales to Forecast and Sales to Outlook. You can refine as you go! Past Due Orders.

Manufacturing Procurement 111

Manufacturing Procurement Metrics Gartner Supply Chain Planning Software 111

ToolsGroup

MAY 2, 2024

Solutions in the Demand Planning category must produce reliable forecasts by extracting key insights from metrics like inventory trackers, converting raw data into actionable forecasts, supporting automation and leveraging predictive analysis.

ToolsGroup 156

ToolsGroup Supply Chain Planning Software Supply and Demand Supply Chain Software 156

Arkieva

NOVEMBER 9, 2021

The folks in the trenches want a definitive answer – give me a simple metric that I can use in all cases that provides guidance. Tools of the Trade: How “Forecastable” is Your Data? They do not want the academic cop out – “it depends”.

Forecasting Software 78

Forecasting Software Forecasting Supply Chain Planning Software Supply Chain Software 78

ThroughPut

OCTOBER 7, 2022

Step Up Demand Planning Efforts with a Robust Forecasting Model . Demand forecasting can be a game changer in today’s volatile environment. Infact, according to McKinsey , applying AI-driven demand forecasting to supply chain management can cut down errors by 20-50% and this helps reduce lost sales by 65%.

Forecasting 52

Forecasting Modeling Supply and Demand Forecasting Software 52

Supply Chain Shaman

OCTOBER 11, 2023

We speak about the need to move from a functional understanding to a global, holistic capabilities, but the traditional supply chain leader defines bonus incentives and process performance goals based on functional metrics. I often laugh when companies ask me to define a good forecast. Measurement.

Supply Chain Planning Software 401

Supply Chain Planning Software Supply Chain Software Forecasting Software Supply Chain Network Software 401

The Smart Software

NOVEMBER 13, 2023

Measuring the accuracy of forecasts is an undeniably important part of the demand planning process. This forecasting scorecard could be built based on one of two contrasting viewpoints for computing metrics. The error viewpoint asks, “how far was the forecast from the actual?”

Forecasting 96

Forecasting Forecasting Software Metrics Supply and Demand 96

Supply Chain Opz

AUGUST 2, 2017

And no function is more at the forefront of that endeavor than demand forecasting. In order to do that, forward planning is key, and accurate forecasts are a critical input. Given that demand can change every day, forecasting becomes the ultimate adventure. Agility and responsiveness, aligned with cost effectiveness, is the aim.

Forecasting 100

Forecasting Supply and Demand Forecasting Software Supply Chain Planning Software 100

ToolsGroup

JANUARY 15, 2024

Solutions in the Demand Planning category must produce reliable forecasts by extracting key insights from metrics like inventory trackers, converting raw data into actionable forecasts, supporting automation, and leveraging predictive analysis.

ToolsGroup 177

ToolsGroup Supply Chain Planning Software Supply Chain Software Supply and Demand 177

Logility

AUGUST 7, 2017

Ask yourself, “Are your supply chain metrics bogging you down?” ” To manage a supply chain containing complex dependencies between teams, departments and partner companies across international boundaries requires a rich set of metrics. Functionally isolated metrics lead to sub-optimized supply chain performance.

Procurement Analytics 121

Procurement Analytics Metrics Gartner Supply Chain Planning Software 121

ThroughPut

AUGUST 24, 2021

Conditions of erratic demands, long-period metrics, and unavailability of raw materials have brought forth a plethora of problems, such as – Trouble Managing Capacity : With high peaks and troughs in demand for goods, capacity management has become a key concern. Execute high-performing product mix & sales forecasts with AI.

Supply and Demand 52

Supply and Demand Optimal Sourcing Forecasting Modeling 52

ToolsGroup

JANUARY 30, 2024

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. Retailers can forecast down to the SKU-location level for each day, which delivers a better assortment in stores.

Supply Chain Planning Software 156

Supply Chain Planning Software Supply Chain Planning Scenario Planning Retail 156

Precoro

MAY 19, 2023

To monitor supply chain performance, stakeholders of successful companies typically define supply chain metrics that are relevant to the given business and track these KPIs regularly. By setting benchmarks for metrics, analysts can recognize unsettling trends and take preventive measures on time.

Procurement Analytics 98

Procurement Analytics Metrics Supply Chain Planning Software Supply Chain Software 98

Unleashed

FEBRUARY 12, 2023

To stay on top of your financials, there are a few key cash flow metrics and KPIs you can track that will help you make the right decisions and avoid insolvency or liquidation. Learn more: Inventory Accounting: A Video Guide for Accountants & Advisors What are cash flow metrics? Why is it important to track cash flow metrics?

Procurement Analytics 52

Procurement Analytics Metrics Expense Reduction Inventory Reduction 52

Supply Chain Shaman

FEBRUARY 26, 2024

Based on the work with Georgia Tech, we are getting clear on which metrics matter by industry. As companies adopt a balanced scorecard, the functional metrics shift to a focus on reliability. Start by analyzing your Forecast Value Added by demand stream. Most of the models are supply-centric with no place to put channel data.

Modeling 210

Modeling Supply and Demand Optimal Sourcing Supply Chain Planning Software 210

The Logistics of Logistics

JUNE 14, 2024

Explore how accurate demand forecasting and inventory optimization ensure the right products are available for customers. Discover how Pull Logic uses AI to solve inventory distortion and improve supply chain efficiency. Understand the concept of creating a pull system rather than the traditional push system in inventory management.

Inventory Reduction 193

Inventory Reduction Inventory Inventory Management Software Modeling 193

QAD

MARCH 28, 2019

Inventory accuracy and minimizing stockouts are very important to customer satisfaction, but a few other metrics also impact the ability to meet customer expectations. Forecast Accuracy. This is defined as the ratio of forecast to actual demand in a period. Forecast Accuracy. Forecast Accuracy. Order Costs.

Customer Service 80

Customer Service Metrics Forecasting Forecasting Software 80