Demand and supply planning was as much an art form as a science for many decades. The process was guided by human intuition, gut feeling, and experience and was aided by tools such as calculators and spreadsheets. These were all…
Recent events have spotlighted the critical importance of supply chains across the globe. Massive disruption, climate change, regional conflict, and more have introduced unprecedented uncertainty into supply chains. For many years, companies had become accustomed to ever-stabilizing supply lines where…
Forecasting in a complex supply chain has always been challenging. And for many years, demand and supply planners worked to create strategies for optimizing those supply chains to capture the highest value for what was becoming a more operationally stabilized…
As an automobile is viewed as a big-ticket item—seen as part investment, part necessity for daily life, and part consumer statement, the automotive industry must cope with one of the most complex supply chains in the world to meet demand.…
Today’s global commerce is driven by massive supply chains. This makes the process of planning a challenge. One estimate puts supply chain-related jobs at 37% of total employment in the US alone. Yet, many companies continue to look at supply…
Forecasting Vs Demand Planning Companies use a variety of tools to predict where their business currently is and where it is headed. By “reading the tea leaves”, planners attempt to ensure correct stock levels, optimize inventory control and inventory value,…
With disruption such as COVID-19 rapidly shifting consumer tastes, market volatility, and human error, the threat of both overstock and stockouts is always present. On the one hand, companies strive to have enough stock available to manage their order position…
Many people look at forecast inventory accuracy in the same way people look at the weather. Maybe it’s right, maybe it’s wrong, but there will be more weather tomorrow and we can try again. But in business, that can cost…
Executive Summary: Manufacturers utilizing MRP to plan material requirements should ensure data integrity and accuracy including forecasting data, lead times, and inventory. They should also choose software that aligns with their needs, comprehend how it treats blanket orders and safety…
When people hear the word “planning”, many of them immediately make the connection with “inventory”. Granted, inventory strategy is a critical part of a company’s overall health. But planning today encompasses much more than just inventory. It covers the entire…