After months of speculation, a large new piece of the tariff picture came into focus, and it’s already impacting companies (and their supply chains) in major ways. Here, we’ll look at how these new tariffs may affect sourcing decisions, transportation…
Forecasting in supply chain management is a technique used to estimate future product demand. The reliability of this forecasting depends largely on the Demand Forecasting Software you use. Supply chain managers often rely on multiple sales forecasts, generated from different…
Let’s dive into why safety stock optimization matters, The risks of not getting it right, and how you can easily calculate Safety Stocks to keep your business running smoothly and profitably. ‘Availability’ is the golden word for any business. Every…
Forecasting using a combination of quantitative methods and your own experience as a demand planner is what will set you apart in your industry. Overview of Exponential Smoothing Like the naïve and moving averages methods, exponential smoothing uses historical demand…
Accurate inventory forecasting and planning requires using different methods for different scenarios and sets of conditions. One method that’s useful during periods of change is the moving average. What is a moving average? In the simplest terms, a moving average…
No modern business can survive without a proper inventory forecasting system. When businesses don’t plan their stock according to well-researched predictions, they risk lowering customer satisfaction levels, reducing profit margins, and miscalculating production. During the COVID-19 crisis, for example, a failure…
If there’s one thing we have learned during the pandemic, it’s that the developed world is dependent on its supply chain. When people think of the supply chain, most think only of the last two parts of it — delivery…
Sales forecasting is the process of predicting the amount of product that your company expects to sell within a defined timeframe. With a well-informed sales forecast, you can better understand the volume of revenue you’ll bring in during that period.…
When it comes to business forecasting, people typically think first of the quantitative type of forecast. This takes historical, time series, or correlation data and extrapolates from it to project what is likely to happen. However, qualitative forecasting can also…
