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Are you outgrowing your forecasting and inventory planning software?
Posted on Tuesday, 18 November 2014

Watch this video to find out:

 

It’s not unusual for companies to start out with a basic forecasting tools and spreadsheets. However, as business grows, supply chain planning becomes more and more complex.

Here are some of the symptoms that you have outgrown your planning software:

  • Slow movers are a problem. Because of its intermittent demand, slow movers are difficult to forecast. This leads to problems with inventory. If a safety stock strategy is employed, there is a tendency to be overstocked, using up resources that could have been applied to fast movers.
  • “Best Fit” forecasting ends up over fitting. Forecasting based on a few formulas is not enough to accurately model demand. Without understanding demand drivers, there is just switching from model to model and using whatever worked last time.
  • Manually intensive planning process. Planning is tedious and time-consuming. There’s always room for more number crunching, tweaking, and re-evaluating because the forecast is still not ready by the time placing production orders come.
  • Forecasting takes months. Forecasts are only in monthly buckets, so weekly and daily trends are lost. The current systems are incapable of analyzing data or capturing forecasts down to the daily level or “Ship to” locations.

 

ToolsGroup SO99+ is a solution that analyzes demand history to obtain the best possible forecasts. It improves forecasting accuracy, achieving up to 99+% customer service levels, while significantly reducing inventory costs.

SO99+ runs a single proprietary statistical model that considers variables contributing to your demand: seasonality, trade marketing, promotions, media, and other special activities. It features a self-learning system that fine tunes itself as more data is made available, resulting in continuously improving forecast accuracy. With ToolsGroup, optimize your supply chain planning for 50% less expediting, lower operational costs, and improved customer service.

ToolsGroup is present in the Philippines via technology consulting company MISNet. For inquiries, call 621-9202 and ask for Yanna or email marketing@misnet.com.ph.


About MISNet

MISNet combines its industry experience, technology expertise, and practical understanding of real-world business realities to deliver end-to-end solutions and services to customers: from providing the IT-based application that corresponds to the business challenges, its implementation, operation, training, to 24/7 support.