Just forecasting is not good enough to improve your supply chain rather accurate forecasting is the key. Moving from good to great forecast is important. The realism that good forecasting can help you develop and improve your strategic plans by increasing your knowledge of the marketplace. The more accurate the forecast, the lesser safety stock is required. The better the forecast, the lower will be inventory levels and at the same time higher service levels. Higher service levels will lead to highly satisfied customer and long-term retention.
Oracle Demantra and its patented Bayesian analytical forecast engine generates the most accurate forecasts possible. Forecast Tuning is a way of setting optimal parameters and configuring models in such a way as to provide ‘good’ forecasts, qualitatively and quantitatively.
About the Author
Himanshu Yadav is working with Trinamix Systems as Principal Consultant. He has over 7+ years of experience into Supply Chain domain with expertise in Forecasting, SCM Analytics, and Demand & Supply Planning. He has worked in core manufacturing and has immense exposure to after-market service supply chain. He has done B.Tech in Computer Science and MBA in Supply Chain & Operations Management.