Cupertino, CA -- (SBWIRE) -- 02/04/2015 -- Forecast Errors newsletter reported that James Covert featured in the New York Post, Smith & Wesson warned that sales and profits for the current quarter will sorely miss its earlier forecasts as demand for firearms plummets following last year's boom. Smith & Wesson's rifle sales dropped by more than 50 percent in the most recent quarter, fueling an overall sales decline of 22 percent, the company said. Handgun sales were down 15 percent. Last year, demand surged following the late-2012 shootings in Sandy Hook, which spurred panic buying from gun enthusiasts fearing tightened regulations by the Obama administration. In response, manufacturers led by Smith & Wesson and Sturm Ruger made big bets on 2014 business that never panned out. CEO James Debney said the company is scrambling to slash inventory as the gun market returns to "a more normalized environment."
Forecast Errors, a weekly e-newsletter, sponsored by Ultriva, Inc. shares methods, modes, and tools used to inform Manufacturers' of forecast errors that they face on the manufacturing floor, and with a variety of supply chain industries. The newsletter explores forecast errors as the difference between the actual and predicted value. Forecast Errors argues 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.
To subscribe to Forecast Errors, go to: http://info.ultriva.com/newsletter
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.
Follow Ultriva on Twitter at @Ultriva