Forecast Errors
Volume 2, Issue 12, March 23, 2015

A forecast error is the difference between the actual and predicted value. The consequences are expensive inefficiencies that can be resolved with lean manufacturing technology.

Collaborative Supply Chain Portal Only Way to Eliminate Forecast Errors

Narayan Laksham, founder of Ultriva, said, “Collaboration and supply chain go hand in hand, or at least they should.” The reality is that each aspect of a manufacturer’s supply chain, whether its procurement, design engineering, or logistics, often operate in very distinct silos and each department rarely collaborates, shares, or even communicates with one another. Today’s supply chain executives should be able to respond to changes in real-time and use up-to-the minute information to drive intelligent decision-making. If the necessary data cannot be shared throughout the supply chain because systems are not integrated, companies will be left scrambling trying to figure out how all the pieces fit together. View more.

Achieving End-to-End Supply Chain Visibility

SupplyChainBrain interviewed Dave Stenfort, director of operations with Anritsu, about how the company achieved visibility of inventory and improved control over critical parts in its manufacturing supply chain. Anritsu provides testing and measurement equipment for research and development, manufacturers, and field and maintenance personnel. Its top supply-chain priority is responsiveness. Customers expect short delivery times for their precision equipment. To satisfy them, Anritsu is looking at how it can tighten existing relationships with suppliers. Typically, material is the constraint. Read more.

Forecast Errors Addressed in Supply Chain Handbook

"The Supply Chain Handbook" brings together a team of 23 experts to share proven methods, evaluate technologies, and offer practical insights into topics impacting today's supply chains.  Current concepts and technologies such as leaning the supply chain, RFID, and supply chain execution software are given in-depth coverage to help evaluate these solutions for the supply chain.  The handbook also covers fundamental topics such as warehousing operations, space layout and planning, distribution network planning and design, transportation, manufacturing strategies, material handling systems and integration, inventory management, and more. Read more.

Forecast Errors Avoided by Cloud-based Solutions for Manufacturers

Manufacturing is traditionally perceived as an industry that lags behind in tech adoption. However, a new study by Softchoice found that manufacturing actually leads all other industries in cloud app adoption (think Google Docs, Box, Salesforce, etc.). The reshoring movement, which has forced manufacturers to rethink their operations and supply chain efficiency, has been a major contributor to the industry’s leading position in cloud app adoption. Read More.

Move from forecast errors to demand driven accuracy:

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