Cupertino, CA -- (SBWIRE) -- 05/14/2015 -- Manufacturers and distributors are frequently nervous about running out of stock, and tempted to overstock. Holding excess stock is not a lean practice and highly inefficient. Overstocking tempts employees to make Errors, due to the overage. Start with a decent projection of sales and tracking software to help calculate the rate of product turnover. This helps manage inventory risk and reduce overstocking. Either that, or, use a Bill of Materials that spells out what is required for the project. Forecast errors can be avoided by monitoring real-time inventory data. This is one of many features appearing in Forecast Errors Newsletter.
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
Cindy McGowan
Marketing Executive
cindym@ultriva.com
408-961-2495