We're always forecasting - thinking about what will happen, assessing its likelihood, and contemplating the implications. For CFOs, the stakes are especially high when it comes to the difference between accurate and inaccurate forecasts.
Demand Control is a process designed to take chaos out of near-term planning and promote actions that enable companies to profitably meet abnormal demand. The results are better performance and improved working environments.
Traditional demand planning systems have reached their limits, with key forecasting metrics remaining essentially flat for the past five years, says Terra Technology's sixth annual Forecasting Benchmark Study.
Sales executives, managers and reps spend countless hours in forecast meetings, yet often find their actual closed revenue falls far from the mark they predicted. With the advanced CRM technology and sales forecasting tools available today, it's a wonder this trend continues.
Analyst Insight: The greatest gap between performance and satisfaction of supply chain applications is in the area of demand planning. The reasons are many, but many are rooted in organizational and processes issues causing many people to throw in the towel too early. – Lora Cecere, Founder of Supply Chain Insights
The holiday season has come to a close, but fashion brands and retailers are still faced with opportunities and challenges after the holiday gift rush. Social media can dramatically increase demand for particular styles and items within minutes or hours (think Pinterest or Instagram).
Logility Inc., a supplier of advanced retail planning and supply chain optimization solutions, has released Logility Voyager Retail Optimization V5.4. This latest release extends the value of an integrated retail and supply chain platform and delivers new merchandise planning views, extended allocation functionality and robust assortment planning capabilities, says Mike Edenfield, president and CEO of Logility.
Demand planning and forecasting projects are popular tactics today for boosting financial results and shareholder value-for good reason. They typically produce one-time and often significant inventory reductions but also higher inventory turns that allow organizations to sustain lower inventory levels over time. The results look great on paper, prompting executives to search for more ways to "optimize" inventory throughout the supply chain.
From banners to jerseys, flags to face paint, the World Cup illustrated just how important a brand is for firing up fans. As brands come to mean more to everyday consumers, so, too, do the processes – from procurement to distribution – needed to fulfill a brand’s promise.