Cupertino, CA -- (SBWIRE) -- 01/23/2015 -- Forecast Errors newsletter examined what can be learned from the collision of the supply chain and retail. Supply Chain Planning and Retail Planning organizations have operated independently of each other, to the detriment of both. The separation of the two planning organizations has given rise to isolation without collaboration. Retailers are excellent at planning and executing against a short horizon. Supply Chain managers see the short and long-term operations of the company – what is around the corner, how suppliers, and partners are performing, where challenges and opportunities may develop. The Retail Planning team on the other hand, sits at the frontline of sales, experiencing day-to-day shifts in demand, accumulating massive amounts of point-of-sale data, and spotting trends of what is hot and what is not.
Forecast Errors, a weekly e-newsletter, shares methods, modes, and tools used in a variety of supply chain industries. The newsletter explores forecast errors as the difference between the actual and predicted value. In the current issue, Forecast Errors argued 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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