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 measure forecast accuracy

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.

Get free sample report
Compare Software Solutions

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

Compare Now

Documents related to » measure forecast accuracy

Optiant Going to a (Much) Better Place: Logility - Part 2


Part 1 of this series analyzed the late-March acquisition of long struggling inventory optimization (IO) provider Optiant by long well-performing supply chain management (SCM) provider Logility. The blog post then discussed Logility’s acquisition history to set the stage for the current offerings that Optiant will join. The 2004 acquisition of Demand Management, Inc. (DMI) and its Demand

measure forecast accuracy  plan, manage, optimize, and measure their supply chain operations and strategic trading partner relationships for direct material procurement, production, logistics, and customer order fulfillment. Logility Voyager Solutions provides a performance-based architecture that allows companies to manage supply chain processes on an exception basis via a Web-deployed control tower or a supply chain portal. Companies can proactively monitor, alert, measure, and resolve critical supply chain events both within Read More

Current Trends in Supply Chain Analytics Systems


Supply chain analytics is gaining popularity with organizations, as it is an effective mechanism to monitor and track supply chain performance. And with new technological innovations promising to enhance these tools, businesses can look forward to benefiting more fully from this area of supply chain management.

measure forecast accuracy  organizations that want to measure their performance against industry standards. Thus, the system should be able to capture data from various publications that publish KPI benchmark figures for various industries. 5. Predefined KPI models Organizations anticipate the benefits of out-of-the-box, predefined KPIs that are based on popular industry-standard supply chain models, such as the supply chain operations reference (SCOR) model. They believe that the out-of-the-box content will help save on 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.

measure forecast accuracy  companies to examine and measure their supply chain processes KPIs. Comparing these KPIs with those of competitors allows companies to determine where weak links exist and identify how to make improvements. This helps improve inventory optimization and can provide dramatic ROI and savings. Classify products If companies have a large number of stock units, as in the electrical supplies industry, it is a complex task to classify products. However, as stated in the rules of how to optimize inventory, Read More

Continuous Improvement Case Study: Taking Baby Steps towards Tangible Benefits


To improve supply chain operations with a fresh look and new ideas, Harris Tea worked with a consulting firm, Supply Chain Consultants. The objective was to optimize the entire supply chain, not just the pieces.

measure forecast accuracy  planning production; and scheduling. Measure the capabilities of the business along these dimensions. Gap Analysis Provide a gap analysis that identifies a list of challenges, and highlights items critical to the businesses. Actionable Steps Prioritize a list of actionable steps that can be taken by the company to address the highest impact items from the gap analysis. SCC used a structured interview approach in meeting with executives, management, and others. They evaluated rules, responsibilities, Read More

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


As a little kid growing up in former (and erstwhile happy) Yugoslavia and watching my elders, day in, day out, downing dozens of strong Turkish coffees with their neighbors and relatives (while discussing sports, weather, world politics, and the neighborhood gossip) I would sometimes naively ask for a sip of coffee. The deterring line (a bogey-man tale) from my folks would be that “kids that drink

measure forecast accuracy  percent of organizations still measure the weighted mean absolute percentage error (WMAPE), which is an appropriate key performance indicator (KPI) for a small number of items with high volumes and high demand forecast predictability (that form the “head” of the supply chain). But this metrics largely masks the forecast accuracy of slow-moving products that have low volumes and low demand forecast predictability (and that form the ever-longer “tail” of supply chains). Where Does the Tail Read More

Challenges of the Future: The Rebirth of Small Independent Retail in America


By any measure, retailers are overwhelming small businesses. More than 95 percent of all retailers have only one store. Almost 90 percent have sales less than $2.5 million (USD), and more than 98 percent have fewer than 100 employees. To compete, small businesses need to be innovative, and understand both personalization and value, and how to execute best practices to build success.

measure forecast accuracy  1,500 today. By any measure, retailers are overwhelmingly small businesses. More than 95 percent of all retailers have only one store outlet. Almost 90 percent have sales less than $2.5 million and more than 98 percent have fewer than 100 employees. Small business is where much innovation occurs. That''s where so much opportunity can still be found. Small business is often where the American dream is born and grows into America''s greatest retail success stores. It''s where America''s pioneering spirit Read More

Financial Excellence: Setting the Foundation for Business Success


To effectively track and forecast your company’s financial performance, you need up-to-date and reliable financial data. As your business grows and diversifies, you need to maintain liquidity and manage cash flow and profits. Integration of your business transactions and operational data with financial data makes this possible, and helps you eliminate departmental silos and streamline your business operations.

measure forecast accuracy  Excellence: Setting the Foundation for Business Success To effectively track and forecast your company’s financial performance, you need up-to-date and reliable financial data. As your business grows and diversifies, you need to maintain liquidity and manage cash flow and profits. Integration of your business transactions and operational data with financial data makes this possible, and helps you eliminate departmental silos and streamline your business operations. Read More

Function Points: Are They Really the Right Unit of Measure for Software Sizing?


Function points (FPs) are the most popular unit of measure for measuring the size of software. But because FPs were developed in the 1970s, are they not now outdated for today’s event-oriented programming and multi-tiered software architectures?

measure forecast accuracy  the Right Unit of Measure for Software Sizing? Software estimation is one of the first steps in software project planning. Software estimation includes estimation of software size, development effort, cost, and schedule. Function points have become the most widely used unit of measure for software size measurement. Function points (FPs) were developed at IBM by Allan J. Albrecht in the late 1970s to measure the size of the software proposed to be developed. It appears that FP methodology was oriented Read More

Vendors Strive for Segment Pack Leader Status; Does Retalix Measure Up?


Software vendors strive to be leaders in their areas of expertise and Retalix seems to be no exception. But how do we recognize a segment pack leader and what are the key elements that characterize a supply chain pack leader?

measure forecast accuracy  Leader Status; Does Retalix Measure Up? Background Retalix is a supply chain software and solutions provider headquartered in Dallas, Texas (US) and Ra''anana, Israel with a truly focused vertical orientation in the retail food industry, worldwide. Retalix''s growth strategy over the past several years has been to expand its enterprise and supply chain management applications while maintaining close integration with their widely installed, in-store solutions. It has grown both organically and through Read More

Integration and Consolidation of Business Intelligence within Business Performance Management


A growing measure of business performance is financial performance management. Leveraging business intelligence (BI) to map business performance goals requires integrating and consolidating information. Systems Union is embarking on a strategy to triumph in this market.

measure forecast accuracy  Performance Management BI Helps Measure BPM Widespread confusion still persists over the difference between business performance management (BPM) and business intelligence (BI). The difference is best described this way: if BPM is the goal, then BI is the way to reach that goal. Combined, they assess performance management , which helps organizations align strategies by tracking and analyzing key performance indicators (KPI). BPM is the dashboard of the enterprise; it helps decision makers by providing Read More

MRP Success Story: Swiss American Products


Learn how Swiss-American Inc., a leading manufacturer of medical products, improved the accuracy of its inventory levels by adopting a new manufacturing system complete lot traceability, manufacturing resource planning (MRP), purchasing, and manufacturing projections.

measure forecast accuracy  ProcessPro,inventory,case,elta,medical,Manufacturing Read More

Barcoding 101 for Manufacturers: What You Need to Know to Get Started


For manufacturers, barcoding carries with it numerous benefits, including increased accuracy, efficiency, and traceability, along with easier adherence to customer or regulatory requirements. Discover how implementing barcoding as part of an integrated software-as-a-service (SaaS) solution can help manufacturing companies of all sizes, and in many different industries, improve operations and business performance.

measure forecast accuracy  employee then scans the pre-measured and barcoded raw materials for the step to ensure that the product contains the right ingredients. This process is more efficient and accurate than the previous manual process. The barcode data also enables the company to improve its products'' traceability and monitor production. Barcodes are also used for tracking of employees'' hours in all departments, and in the distribution and shipping areas for warehouse pick lists. All of this data feeds into cost calculations Read More

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.

measure forecast accuracy  to Improve the Accuracy of Your Forecasts How to Improve the Accuracy of Your Forecasts If you receive errors when attempting to view this white paper, please install the latest version of Adobe Reader. Identifying market trends is essential to good demand planning and peak performance in the manufacturing and retail industries. Consumer Driven Planning for Microsoft Dynamics AX provides insight into demand trends, helps you align your internal processes and policies around accurate demand forecasts Read More

JustEnough for Retail


JustEnough's solutions, available for cloud or on premises implementations, can help retailers forecast customer demand, plan merchandise and inventory, and then execute on those plans. Modules available from JustEnough include Merchandise Financial Planning, Assortment & Space Planning, Price & Markdown Planning, Promotion Management, Allocation and Replenishment.    

measure forecast accuracy  for Retail JustEnough''s solutions, available for cloud or on premises implementations, can help retailers forecast customer demand, plan merchandise and inventory, and then execute on those plans. Modules available from JustEnough include Merchandise Financial Planning, Assortment & Space Planning, Price & Markdown Planning, Promotion Management, Allocation and Replenishment. Read More