Cupertino, CA -- (SBWIRE) -- 05/26/2015 -- The demand-driven supply chain must be optimized for the benefit of all suppliers in order to work well. With the help of supply chain management software, better optimization of the entire supply chain produces the best results. To be truly demand-driven, it is important to unite operations and supply chain management with common goals. S&OP (sales and operations planning) is one technique for ensuring that everybody in the company is on the same page. This may also require changes to a company's key metrics, employee incentives and even compensation models. Supply chain management is a complex task even at the best of times and even with perfect information. The key to understanding how to control inventory is coordinating the objectives of every member of the supply chain and ensuring that every link in the chain is working toward similar goals. 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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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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