Title:
Improving Item-Location Level Forecast Accuracy
How Demand Planning Leaders are Making it Happen
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Date: Tuesday, March 12, 2013
Time: 11:30am EDT, 10:30am CDT, 9:30am MDT, and 8:30am PDT
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Abstract:
Forecast accuracy at the Item-Location level is a big problem at most companies. These detailed forecasts are often not accurate and reliable enough to support sales account management and supply chain planning. Highly variable, intermittent and "long tail" demand drives forecast error (e.g., MAPE) up as much as 40% at this level - too high to respond properly.
For most companies, a small incremental improvement just isn't good enough. They need accurate, reliable forecasts that their organization can really trust. They need to be able to predict future demand behavior to eliminate the forecast error that is hindering responsive replenishment.
Forward-thinking companies are employing innovative new techniques to go beyond standard time-series forecasts by taking advantage of order-line data and even downstream data such as social media, POS or web sentiment. This improved demand analytics and demand management provides an accurate account level forecast and reduces latency via fresh demand data.
Featuring Jeff Metersky, Vice President, Sales, Inventory, and Operations Planning (SIOP) Practice,
Chainalytics, Pat Smith, General Manager, ToolsGroup North America, and SCDigest Editor Dan Gilmore.
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What You’ll Learn/Benefits of Attending: |
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Item-Location forecast accuracy benchmarks from a group of major manufacturers
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The impact of demand variability and velocity on forecast accuracy
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The importance of a “demand side view” of your forecast |
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How demand modeling can create more reliable forecasts
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How to leverage downstream and marketing data
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Who Should Attend:
The target audience is forecasting, supply chain, S&OP, sales account management and demand planning professionals who want to:
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significantly reduce forecast error at the Item Location level |
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create a reliable demand plan to support their supply chain planning or S&OP processes |
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extend supply chain visibility to minimize uncertainty and improve responsiveness |
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What if I can't attend on this date?
Archived version will be available soon after broadcast.
Register now even if you can't attend live date to receive email with on-demand link.
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Speakers:
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Dan Gilmore
Editor
Supply Chain Digest
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Pat Smith
General Manager
ToolsGroup North America
Pat Smith is the General Manager of ToolsGroup North America. Mr. Smith has more than 20 years of Sales and Management experience ranging from companies such as Pillsbury PLC (acquired by General Mills) to innovative software companies such as Optiant (acquired by Logility), Park City Group and Marketron. As Managing Director, he is responsible for the day-to-day operations and all revenue activities for the North American business unit. Outside of ToolsGroup, he has experience with CPG, Retail and Broadcasting/Media and various technology enablement solutions in those verticals. |
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Jeffery M. Metersky
Vice President, Sales, Inventory, and Operations Planning (SIOP) Practice
Chainalytics
Jeff is a co-founder of Chainalytics and Vice President of the Sales, Inventory, and Operations Planning (SIOP) Practice. His global consulting experience which spans more than 100 clients across a variety of industries is focused on supply chain design and analysis, inventory strategy and optimization, demand planning, and cost-to-serve analytics.
Jeff has authored multiple articles and is frequently cited by leading industry publications and analysts. He has also spoken at numerous industry conferences and universities. In 2006, Jeff was recognized as a “Pro to Know” by Supply & Demand Chain Executive.
Jeff holds a Bachelor of Science in Industrial Engineering from The University of Illinois and a Master of Business Administration in Materials and Logistics Management from Michigan State University.
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