Cupertino, CA -- (ReleaseWire) -- 04/07/2015 -- Ultriva, sponsor of Forecast Errors, a weekly e-newsletter, which shares methods, modes, and tools used in a variety of supply chain industries, recently looked at the pros and cons of supply chain forecasting and planning. Supply Chain Forecasting and Planning encompasses the fundamentals of demand planning and eliminates forecast errors. The key elements of measuring forecasting performance and shaping manufacturing organizational footprint for the future means companies must successfully deploy a new forecast planning infrastructure; devise effective steps to drive costs down in demand planning and still maintain forecast integrity; and collaborate with various functional areas in the organization while maintaining forecast excellence. Manufacturers are building the best demand planning team within budget constraints, while moving from 'worst practices' to best practices in just a few easy steps.
The newsletter explores forecast errors as the difference between the actual and predicted value. Forecast Errors reports that what separates best-in-class companies from those that struggle with accuracy is how they root out (and learn from) forecasting errors. 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.
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Ultriva's (http://www.ultriva.com) cloud-based platform leverages seamlessly integrates with leading ERP and MRP systems, to deliver an end to end pull based replenishment solution. Ultriva, based in Cupertino, CA, implements a global demand driven manufacturing model by providing full visibility, scheduling, and sequencing of production of customer orders. Ultriva was named one of the Great Supply Chain Projects of 2014 by Supply & Demand Chain Executive magazine and recently named one of 50 Best Supply Chain Blogs of 2014 by SupplyChainOpz. The company's global footprint is increasing rapidly with implementations in wide variety of industry sectors and enterprises such as Magellan Aerospace, CareFusion, Emerson, Ingersoll Rand, McKesson, Triumph Group, Regal Beloit, Thermo Fisher, and more.
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Email: Click to Email Cynthia Leonard