Cupertino, CA -- (SBWIRE) -- 02/17/2015 -- Forecast Errors newsletter reported that understanding customer demand is key to any manufacturer to make and keep sufficient long-lead inventory so that customer orders can be correctly met. Forecasts are never perfect but are valuable in better preparedness for the actual demand. Accurate and timely demand plans are a vital component of an effective Value Chain. Inaccurate demand forecasts typically would result in supply imbalances. Although revenue forecast accuracy is important for corporate planning, forecast accuracy at the SKU level is critical for proper allocation of resources.
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. 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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About Ultriva
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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Ultriva, Inc.
http://www.ultriva.com
Cynthia Leonard
Marketing Executive
cynthiaL@ultriva.com
408-961-2495