Forecast Errors
Volume 2, Issue 14, April 6, 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.
Forecast Errors Rampant Despite New Training Methods
There are a new series of workshops and training methods utilizing the business processes and techniques found in Collaborative Planning, Forecasting & Replenishment. While presenters discuss how to effectively collaborate with trading partners to deliver greater efficiency across the supply chain and better customer service, forecast errors are still rampant. Connecting with trading partners to deliver a seamless omni-channel customer experience and developing and deploying key performance indicators (KPIs) to move target actions and desired behaviors to achieve objectives does not necessarily leverage best-in-class industry initiatives such as integrated business planning, predictive analytics, supply chain visibility, and demand signals. Read more.
Gartner Survey Reveals That SaaS Deployments Are Now Mission Critical
Gartner News reported that global buyers of cloud applications cite cost, innovation, and agility as reasons for adoption, according to a recent survey by Gartner, Inc. In May and June 2014, Gartner conducted a survey across ten countries in four regions to examine organizations' adoption and deployment of cloud services across SaaS, infrastructure as a service (IaaS) and platform as a service (PaaS). "The most commonly cited reasons the survey found for deploying SaaS were for development and testing production/mission-critical workloads," said Joanne Correia, research vice president at Gartner. "We've seen a real transition from use cases in previous surveys where early SaaS adoption focused on smaller pilot projects. Today, the projects are mission-critical and production grade. This is an affirmation that more businesses are comfortable with cloud deployments beyond the front office running sales force automation (SFA) and email." Read more.
CFOs Responsible for Accounting and IT Departments Impacting Forecast Errors
In a recent CFO survey from Robert Half Management Resources, more than eight in ten finance executives surveyed said over the past three years their roles have expanded outside of traditional accounting and finance, with human resources (HR) and IT the most commonly cited areas. The survey, which was developed by Robert Half and conducted by an independent research firm, is based on interviews with more than 2,100 CFOs from a random sample of companies in more than 20 of the largest US markets. Read more.
Equipment Financing Drives Supply Chain Across US Manufacturing
ELFA President and CEO William G. Sutton, CAE, said, equipment financing is a critical source of funding for a majority of US businesses, allowing them to acquire the equipment they need to operate and grow. It enables equipment acquisition, which plays a critical role in driving the supply chains across all US manufacturing and service sectors. The 2015 Equipment Leasing & Finance U.S. Economic Outlook Report noted that investment in equipment and software will reach an all-time high in 2015. As the US economy continues to improve, business investment is forecast to reach a record $1.484 trillion in 2015. As business investment grows, demand for equipment financing will increase. Read more.
Move from forecast errors to demand driven accuracy:
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