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 forecast accuracy calculations

Software Functionality Revealed in Detail

We’ve opened the hood on every major category of enterprise software. Learn about thousands of features and functions, and how enterprise software really works.

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Compare Software Solutions

Visit the TEC store to compare leading software by functionality, so that you can make accurate and informed software purchasing decisions.

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Enterprise Incentive Management (EIM) RFI/RFP Template

Modeling and Strategic Analysis, Payee Database, Payee Sub-ledger, Compensation Plan Administration, Compensation Calculations, Views and Reports, Exception Data Resolution Management, Security and Compliance, Integration and Interfacing Requirements, Application Technology 

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Documents related to » forecast accuracy calculations

How to Improve the Accuracy of Your Forecasts


Increased competition, lower margins, and more customer demands mean that distributors have to provide better product availability and more services with fewer profit dollars. To accomplish this, estimates of future use of stocked items must be as accurate as possible. Discover how analyzing weighted averages, trend factors, and other formulas can help you accurately anticipate—and manage—future demand for your products.

forecast accuracy calculations  Forecasting Data , Demand Forecast Accuracy , Demand Forecasting Data Cleansing , Demand Forecast Prediction , Determine Demand Forecast , Forecasting Needs , Retail Demand Forecasting , Time Series Forecasting , Define Demand Forecasting , Demand Forecasting Excel , Demand Planning , Article on Demand Forecasting , Demand Forecasting Activity , Increase Forecast Accuracy . Helping Distributors Maximize Business Potential Through Education and World-Class Technology From Microsoft Business Solutions Our Read More

How Inventory Optimization Can Increase Your Profitability


One of the largest expenses for distributors and wholesalers is stock. Many have difficulty finding the perfect balance between ensuring products are available when they’re needed and not holding too much inventory. So, how is it possible to increase profitability while lowering inventory costs? By exploiting an inventory optimization system, businesses increase automation and collaboration—allowing greater profitability.

forecast accuracy calculations  Inventory Optimization Tools , Forecast Accuracy , Inventory Optimization System , Inventory Optimization Model , Inventory Policy Optimization , Network Inventory Optimization , Inventory Optimization Whitepapers , Inventory Analysis , Inventory Optimization Initiatives , Forecasting Inventory Optimization , Optimization of Inventory , Warehouse Inventory Optimization . One of the largest capital expenses for many distributors and wholesalers is stock. Finding the balance between ensuring products are Read More

Less Stock, More Profit: Inventory Optimization


Inventory optimization is the area where most enterprise resource planning (ERP) software implementations get the highest and fastest return on investment (ROI). However, many companies implementing an ERP solution don’t add a dedicated inventory optimization module. Learn how inventory optimization can offer companies huge potential to maximize the value of IT investments—and keep inventory levels at the right balance.

forecast accuracy calculations  mentioned before, calculating the forecast is the most critical part of inventory optimization, and therefore the data must be as accurate as possible. Quality of data is one of the greatest benefits of having an inventory optimization system that is built on the same base as the rest of the ERP solution. The same level of accuracy can never be achieved with an integrated third party ''best-of-breed'' solution, which usually looks at only delivery history. A true demand planning solution, such as IBS Read More

Web-based Solution Steps Out for Cohesive Retailer Sourcing


TradeStone recently announced the commercial availability of its Unified Buying Engine, a technology platform that should enable user companies to streamline all purchasing into a single view and business process.

forecast accuracy calculations  product data management (PDM), forecasting, order entry, warehousing, and finance. This design enables it to enhance existing systems reasonably quickly with expanded functionality, while converting disparate islands of information into truly collaborative nodes, resulting in a single, unified buying process. As mentioned many times before, buyers and sellers in a typical supply chain must access multiple internal and external systems to view data, create transactions, and somehow collaborate to update Read More

Komatsu Employs “Mod Squad” For Logility Implementation


At the Connections 2000 Logility user conference in New Orleans, users recounted implementation stories. Few were as striking as that of the Komatsu’s DRP implementation modifications, a testament to human ingenuity.

forecast accuracy calculations  requirements for very low forecast items with long lead times. The mod uses order quantity and safety stock calculations from Logility IP to produce accurate summaries at the end of the DRP calculation horizon. Market Impact Among best-of-breed supply chain management (SCM) vendors, Logility lies toward the packaged end of the spectrum. Rather than providing just the means for building a system to a client''s specifications, Logility has incorporated features in its software that support a standard Read More

Sales and Operations Planning Part Three: Game Plan Guidelines


Effective game plans lead to improved firm performance and bottom line results. Metrics include reductions in stock-outs, delivery lead-time, missed shipments, partial shipments, expediting efforts, and improvements in customer service. This is an excerpt from the book Managing Your Supply Chain Using Microsoft Navision.

forecast accuracy calculations  providing sales order and forecast data typically belongs to the sales function, with a hand-off to the master scheduler. Formulating Realistic Game Plans . Realistic game plans require identification of capacity and material exceptions that would constrain the plans, and then eliminating the constraints or changing the plan. Identification of material-related exceptions typically starts with suggested actions on a planning worksheet, while capacity exceptions are identified using work center load Read More

TEC’s I&CM Evaluation Center (Slowly but Surely) Gaining Traction - Part II


Part I of this blog series expanded on some of TEC’s earlier articles about companies’ need for better commission and incentives calculations and best sales performance management (SPM) practices. It also introduced the latest entry in TEC’s I@CM (Incentive @ Compensation Management) Evaluation Center, Varicent Software’s flagship product, Varicent SPM [evaluate this product]. Varicent

forecast accuracy calculations   Read More

ToolsGroup Embeds Machine Learning Technology in Demand Forecasting


ToolsGroup, a provider of demand analytics and supply chain planning (SCP) software, claims to be the first vendor in its class to embed machine learning into a commercially available demand forecasting product. The new technology has been proven to significantly improve forecast accuracy in major global customer installations.

forecast accuracy calculations  proven to significantly improve forecast accuracy in major global customer installations. ToolsGroup''s embedded machine learning is available as part of the SO99+ version 7.3.1 demand forecasting solution (“SO99+” stands for “service optimizer over 99%”).   Forecast accuracy is an important driver of business outcomes, yet most demand forecasting systems today often produce disappointing results and significant forecast errors. The traditional standard models found in these systems cannot easily Read More

Sodebo Selects DynaSys Demand Planning Solution


About a year ago, QAD made the wise and relatively inexpensive acquisition of DynaSys in France for sales and operations planning (S@OP), procurement planning, production planning, distribution planning, demand planning, strategic network planning, and inventory optimization capabilities. Strasbourg is now a supply chain management (SCM) competence center for QAD, as DynaSys has 27 years of

forecast accuracy calculations  automate and optimize its forecast processes for normal demand as well as for that generated by promotions (and to better manage promotional expenses and activity). The company also sought a solution that could coordinate departments across its enterprise, such as marketing, production, operations, and finance. From amid a slew of considered solutions, DynaSys beat out the lesser known local specialist offerings FuturMaster and VIF in the final round. DynaSys'' flagship n.SKEP solution was designed to Read More

A Modern Tale of Long (Supply Chain) Tails -- Part II


Part I of this blog series introduced the notion of long tails in modern supply chains. That blog post also introduced the vendor ToolsGroup and its solution for planning and optimizing finished goods in distribution environments. So, How Does ToolsGroup Solve the Distribution Puzzle? Most of the benefits are driven here by the distinctive Stock Mix Optimization capability that has delivered

forecast accuracy calculations  a combination of poor forecast accuracy and incorrect safety stock calculations.  Persistent forecast bias and the inability to correctly allocate the forecast to a daily SKU and account-location level, have caused high daily forecast error.  This situation, combined with widespread use of obsolete and inadequate inventory modeling, has lead to frequent stock-outs and excess inventory. Basically, companies have two ways to achieve service level excellence. One is the traditional painful way of Read More

Financial Forecasting: Room for Improvement for People, Process and Technology


Preparing an accurate forecast in this volatile business climate is challenging. Still, it is critical for businesses to be able to predict outcomes for the next month, quarter or year, and be able to respond quickly when the actuals vary significantly from the forecast. Forecasting may be equal parts art and science, but the most dialed-in enterprises report using a solid, collaborative process for generating accurate forecasts.

forecast accuracy calculations  Technology Preparing an accurate forecast in this volatile business climate is challenging. Still, it is critical for businesses to be able to predict outcomes for the next month, quarter or year, and be able to respond quickly when the actuals vary significantly from the forecast. Forecasting may be equal parts art and science, but the most dialed-in enterprises report using a solid, collaborative process for generating accurate forecasts. Read More

Sales and Operations Planning Part Two: Common Scenarios


The nature of an S&OP game plan depends on several factors, such as the need to anticipate demand and the item's primary source of supply. Consideration of these factors can be illustrated with four common scenarios. This is an excerpt from the book Managing Your Supply Chain Using Microsoft Navision.

forecast accuracy calculations  Sales orders consume sales forecast and drive shipping activities, and the combination of forecasts and sales orders drive the item''s master schedule comprised of production orders. Production and procurement activities are driven by existing production orders and by suggestions for new production orders. Planning calculations help formulate a realistic game plan by identifying potential material and capacity constraints. A planning worksheet identifies potential material constraints related to the Read More

Rethinking the Supply Chain: Meeting the Complexity Challenge


The requirements of operating in a global, just-in-time (JIT) market have made supply chains much more complex than they were 10 years ago. Much of the software meant to assist in managing this complexity has itself become too complex to use—and too expensive to cost-justify. Discover the benefits of using a less complex supply chain solution that better supports a collaborative effort along your supply chain.

forecast accuracy calculations  purchasing of Zotos products. Forecast accuracy was another major source of improvement following the implementation of Demand Solutions. At Ricoh, monthly forecast accuracy is now in the 80-85 percent range, with some months reaching 95 percent accuracy, according to Langevin. Forecast accuracy at Zotos after one year went from 50 percent to 70 percent, with a target of 80-85 percent for the coming year. Day-Timers has also seen a dramatic improvement in forecast accuracy: We were less than 60 percent Read More