article thumbnail

Probabilistic Demand Forecasting: Revolutionizing Supply Chains

ToolsGroup

At ToolsGroup, we’ve long championed probabilistic demand forecasting (also known as stochastic forecasting) as the cornerstone of effective supply chain management software. However, most modern product portfolios aren’t this predictable.

article thumbnail

How Demand Forecasting Software Turns Uncertainty Into a Competitive Advantage

ToolsGroup

The supply chain industry is no stranger to uncertainty. Unexpected challenges like shifts in global markets, economic upheaval, commodity shortages, advancements in technology, or environmental changes can send shockwaves through operations in unexpected ways.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Demand Forecasting: A Complete Guide to Supply Chain Excellence

ToolsGroup

Demand forecasting has evolved dramatically in recent years. Businesses have shifted from supply-focused approaches to demand-driven models, yet many still struggle to balance accuracy with agility. Traditional forecasting methods often fail under high variability, leading to excess costs, stockouts, and obsolescence.

article thumbnail

Demand Forecasting: A Complete Guide to Supply Chain Excellence

ToolsGroup

Demand forecasting has evolved dramatically in recent years. Businesses have shifted from supply-focused approaches to demand-driven models, yet many still struggle to balance accuracy with agility. Traditional forecasting methods often fail under high variability, leading to excess costs, stockouts, and obsolescence.

article thumbnail

5 Perceptions on Demand Forecasting and How it's Changing

Speaker: Brian Dooley, Director SC Navigator, AIMMS

Is your demand forecasting process evolving with the times? Are you satisfied with your level of forecast accuracy? This webinar shares research findings from a recent survey among supply chain planning professionals and delves into the following: Who is typically responsible for forecasting?

article thumbnail

Building a Winning Business Case for Demand Forecasting: A Comprehensive Guide

ToolsGroup

Demand forecasting is a critical strategy for supply chain management that can dramatically improve business decision-making and financial performance. However, securing leadership buy-in for demand forecasting technology requires a strategic approach that clearly demonstrates value.

article thumbnail

Get Started Using Machine Learning for New Product Forecasting

ToolsGroup

Adding to this already uphill battle, we don’t have trustworthy new product forecasting methods because forecasting new products with no sales data is very hit-and-miss. Machine learning (ML) provides an effective weapon for your new product forecasting arsenal. Why is new product forecasting important?

article thumbnail

Automated Order Processing and Proactive Inventory Management

Speaker: Irina Rosca, Director of Supply Chain Operations, Helix

Companies should have seamless integration between order entry, inventory management, forecasting and supply planning models and purchase order status to sense risk, pull levers to mitigate potential risk, and communicate within and outside the organization. etc) or online promotions (company run or 3rd party). April 3rd, 2019 11.00

article thumbnail

The 4 Keys to Demand Planning in 2023 and Beyond

Speaker: Eva Dawkins - Senior Consultant, Supply Chain

The last three years have been a rollercoaster ride for most supply chains, filled with volatile unpredictability and frequent disruptions. We know technology improvements can improve supply chain operations and add significant value for companies even in turbulent times.