Logistics Viewpoints

NOVEMBER 11, 2024

For instance, advanced factory scheduling solutions use predictive maintenance inputs, which rely on sensor data to forecast equipment failures. Short-term forecasting relies on POS and other forms of downstream data. Not all the transactional data, just the data required to calculate a metric or make a decision.

Supply Chain Planning Software 273

Supply Chain Planning Software Modeling Software Analytics Software Forecasting Software 273

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

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

The Logistics of Logistics

MAY 1, 2024

Samuel Parker and Joe Lynch discuss DAT iQ: the metrics that matter. Key Takeaways: DAT iQ: The Metrics that Matter In the podcast interview, Samuel Parker gave a freight market overview based on DAT’s database of $150 billion in annual market transactions.

Metrics 246

Metrics Logistics Network Optimization Software Analytics Software Optimal Sourcing 246

Logility

JUNE 23, 2023

That’s precisely what demand forecasting feels like for many businesses today. Enter causal forecasting. Unfortunately, many companies hesitate to use causal forecasting, thinking it’s too complicated or resource-hungry. What is Causal Forecasting? That’s where causal forecasting comes into play.

Forecasting 190

Forecasting Forecasting Software Modeling Predictive Analytics Software 190

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

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

ToolsGroup

JANUARY 21, 2025

To address these return-driven challenges, the industry is moving away from siloed solutions toward integrated systems that seamlessly connect Merchandise Financial Planning , Assortment Planning , Allocation , and Demand Forecasting.

Supply Chain Planning Software 156

Supply Chain Planning Software Forecasting Software Inventory Reduction Price Reduction 156

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 369

Supply Chain Planning Software Supply Chain Design Software Supply Chain Planning Supply Chain Design 369

Supply Chain Shaman

FEBRUARY 4, 2025

Functional Metrics and the Lack of Alignment to Strategy. Few companies are clear on the number of supply chains they operate, design the rhythms and cycles of each, and align metrics to the strategy. The industry is not clear on desired outcomes. Clarity on Value. Guess what? It doesn’t. These two reports are coming soon.

Supply Chain Design Software 221

Supply Chain Design Software Price Reduction Cost Reduction Strategies Supply Chain Planning Software 221

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 332

S&OP Supply and Demand Forecasting Supply Chain Design Software 332

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

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

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

Supply Chain Shaman

SEPTEMBER 22, 2024

The organization had little energy to test forecasting models. I then asked about his success with Forecast Value Added (FVA) analysis. Companies speak about moving from a functional metric focus to managing corporate metrics, but this does not happen. I asked if he had tested the models by backcasting.

Cost Reduction Strategies 375

Cost Reduction Strategies Waste Reduction Inventory Reduction Supply Chain Planning Software 375

Supply Chain Shaman

JANUARY 2, 2023

A large consumer products manufacturer with nine Enterprise Resource Planning (ERP) instances and several divisions wanted to discuss forecasting. The team was not calibrated on the role of forecasting and the basics around process excellence. What Is a Forecast Anyway? A forecast is not a forecast. Bear with me.

Supply and Demand 372

Supply and Demand Modeling Demand Planning Supply Chain Planning Software 372

Supply Chain Shaman

JULY 25, 2021

Implementation of Sales Forecasting. The focus on sales forecasting started shortly after Y2k. Few companies measured the impact on error and bias through the rigor of Forecast Value Added (FVA) analysis. While the input from sales on market trends is invaluable, sales should never be asked to forecast. The reason?

Procurement Analytics 370

Procurement Analytics Supply Chain Design Software Agile and Lean Supply Chain Supply Chain Planning Software 370

Logistics Viewpoints

DECEMBER 18, 2024

Innovative tools provide actionable insights and improve operational efficiency Artificial Intelligence (AI): AI systems optimize routing and demand forecasting, reducing energy consumption and empty miles. Set Measurable Goals: Establish clear targets for emissions reduction, energy efficiency, and sustainability metrics.

Optimal Sourcing 256

Optimal Sourcing Material Savings Supply Chain Design Software Supply Chain Planning Software 256

RFgen

NOVEMBER 27, 2024

Supply chain optimization is crucial for enhancing efficiency and cost-effectiveness by providing end-to-end visibility, aligning with demand forecasts, and continuously improving processes through technology and analytics. Demand Forecasting: Analyze past data to predict future needs.

Optimal Sourcing 97

Optimal Sourcing Supply Chain Optimization Modeling Inventory Reduction 97

Logistics Viewpoints

JULY 10, 2024

A planner could ask the SCP engine to achieve 95% service, with CO2 emissions under a million metric tons at a given factory in the coming month. These forecasts occur in three different time horizons: Long-term planning. Often called strategic planning, this is a forecast spanning 1 – 5 years. Medium-term planning.

Supply Chain Planning Software 304

Supply Chain Planning Software Supply Chain Planning Scenario Planning Modeling 304

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 402

Inventory Reduction Supply Chain Planning Software Cost Reduction Strategies Supply Chain Design Software 402

Logility

JUNE 2, 2023

In the intricate world of supply chain management, the accuracy of demand forecasting often serves as the cornerstone of business growth. Yet, despite its significance, demand forecasting continues to be a thorny issue for many businesses, particularly manufacturers. What is Demand Forecasting Accuracy? Let’s get started!

Forecasting 130

Forecasting Modeling Forecasting Software Supply and Demand 130

Logistics Viewpoints

NOVEMBER 6, 2024

Protecting sensitive data—such as vehicle locations, driver information, and operational metrics—requires rigorous cybersecurity measures. Predictive analytics offers the added benefit of forecasting maintenance needs and planning routes based on historical data, allowing for proactive resource allocation.

Supply Chain Planning Software 279

Supply Chain Planning Software Supply Chain Design Software Predictive Analytics Software Optimization Software 279

Logistics Viewpoints

OCTOBER 4, 2021

A study by E2open – the 2021 Forecasting and Inventory Benchmark Study: Supply Chain Performance During the Covid-19 Pandemic – provides the answers. Benchmarking the forecasting process is difficult. Forecasting Accuracy Was Terrible . No matter what kind of demand planning solution was used, forecasting accuracy dropped.

Supply Chain Performance 273

Supply Chain Performance Inventory Reduction Cost Reduction Strategies Supply and Demand 273

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 390

Supply Chain Planning Software Supply Chain Software Forecasting Software Supply Chain Network Software 390

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

RFgen

DECEMBER 4, 2024

We’ll examine the key components of efficient supply chains, explore essential performance metrics, and uncover the fundamental drivers that influence efficiency. Efficient supply chains strengthen collaborative relationships through automated communication systems and shared performance metrics.

Sourcing Strategies 92

Sourcing Strategies Inventory Reduction Waste Reduction Expense Reduction 92

Supply Chain Shaman

FEBRUARY 5, 2020

build alignment (driving goal congruence), building reward systems (defining a cross-functional set of metrics to align to the strategy) and defining the right reporting relationships (the S&OP process needs to report to the profit center manager). Most retail forecasts were just not good enough to drive success. The problem?

S&OP 323

S&OP Supply and Demand Forecasting Supply Chain Planning Software 323

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

Supply Chain Shaman

APRIL 9, 2021

This included one-number forecasting, Integrated Business Planning (with tight integration to the budget), labor arbitrage strategies (chasing low-cost labor with extended supply chains), and tax-efficient supply chain strategies. Focus on functional metrics without alignment to a balanced scorecard to drive value. Mistake #3.

Supply Chain Planning Software 360

Supply Chain Planning Software Procurement Analytics Supply Chain Performance Manufacturing Procurement 360

ToolsGroup

AUGUST 20, 2019

Gartner says that the most common outsourced SCP processes are inventory management, statistical forecasting and service parts planning. Companies moving to BPO in these practice areas are experiencing supply chain improvements in metrics such as inventory turnover and customer service. Driven by improvements in performance and cost.

Supply Chain Planning Software 214

Supply Chain Planning Software Supply Chain Planning Gartner Supply Chain Software 214

Taulia

DECEMBER 6, 2024

How are companies rethinking their liquidity management strategies in response to the recent degradation across major working capital metrics? In the wake of economic uncertainty, many companies have experienced a degradation in key working capital metrics.

Inventory Reduction 52

Inventory Reduction Forecasting Software Supply Chain Planning Software Optimization Software 52

ToolsGroup

JUNE 8, 2021

For example, an SOP may define how forecasting is done in the organization; therefore, the RFI focuses on features that enable that approach. 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 6 Focus on the wrong metric. 7 Poor use of resources.

Supply Chain Planning Software 245

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

SCMDOJO

OCTOBER 30, 2024

MTSS platforms facilitate hands-on projects where learners can apply statistical methods to identify trends, forecast demand, and optimize inventory levels. Through interactive tutorials and practical exercises, learners can become adept at using software for inventory management, transportation planning, and demand forecasting.

Supply Chain Planning Software 97

Supply Chain Planning Software Analytics Software Forecasting Software Predictive Analytics Software 97

Supply Chain Shaman

FEBRUARY 13, 2020

It is useful to analyze demand data to understand “forecastability” and randomness. Not all data is forecastable, and not all demand optimization engines are equal. The more forecastable the data set, the easier it is to find an optimizer. When I delve into the data, I find: Forecasting Solution Signal Efficacy.

Optimal Sourcing 234

Optimal Sourcing Modeling Forecasting Supply and Demand 234

SCMDOJO

OCTOBER 28, 2024

Review Supplier Performance Performance Measurement: S&OP provides a framework for tracking supplier performance against agreed-upon metrics, such as delivery time, quality, and cost. Help Forecast Upstream Supply Constraints Early Warning Signs: S&OP can identify potential demand increases.

S&OP 97

S&OP Optimal Sourcing Supply and Demand Material Savings 97

Logistics Viewpoints

JUNE 29, 2023

PO Collaboration focuses on maintaining accurate demand forecasts, timely communication with suppliers, and efficient replenishment processes to ensure optimal stock levels and minimize stockouts. Consequences of Lack of PO Collaboration Capabilities Failure to prioritize PO collaboration can lead to severe consequences for companies.

Manufacturing Procurement 260

Manufacturing Procurement Procurement Analytics Material Savings Inventory Reduction 260