Cupertino, CA -- (SBWIRE) -- 03/13/2015 -- Ultriva recently reported that most manufacturing companies are not keeping current with technologies to ensure accurate real-time inventory management. When it comes to ordering materials and components, managing inventory levels, or organizing the delivery of finished goods to customers, companies are continually forced to chase business partners – mostly suppliers, logistics companies and retailers (via a messy stream of emails), phone calls, and faxes. Worse still, as much as 80% of the data that could give manufacturers a complete, end-to-end view of their supply chains already resides on the back-end IT systems of these partners, according to some industry estimates.
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. 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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