Cupertino, CA -- (SBWIRE) -- 02/20/2015 -- Forecast Errors newsletter reported that in today's omni-channel environment, calculating demand is more challenging than ever. The huge growth in online shopping (and expensive delivery costs) has forced retailers to rethink fulfillment strategy. Retailers are trying to deliver items to online shoppers as quickly as possible, and to do this efficiently, they are beginning to turn stores into mini-fulfillment centers. Often, it is faster and less expensive to fulfill an order from a local store, rather than from the distribution center located across the county. But fulfilling orders in store that come from both virtual and physical channels makes calculating and supplying demand significantly more complex.
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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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.