Cupertino, CA -- (SBWIRE) -- 03/25/2015 -- Inventory velocity in the CPG (consumer packaged goods) environment is vital. Forecast Errors, a weekly e-newsletter, sponsored by Ultriva, Inc. reported, increasingly CPG companies are quickly optimizing supply chains with demand-driven cloud-based solutions. The article discussed Trading Partner Alliance (TPA), a joint industry affairs/industry relations leadership group that was formed by GMA and FMI in January 2009. The TPA exists to develop a shared retailer-manufacturer agenda on supply chain efficiency issues, the application of information technology, the adoption of environmentally-friendly business practices and other issues. Recently, The Grocery Manufacturers Association (GMA) and Food Marketing Institute (FMI) joined together as the Trading Partner Alliance (TPA) and recently hosted their annual Supply Chain Conference.
Forecast Errors 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 reports 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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