The 7 Deadly Sins of Sales Forecasting

Lust, pride, greed, gluttony, envy, anger, and sloth.  Collectively, they are known as The 7 Deadly Sins.  Sound bad?  You bet!

If you are guilty of one or more of the big seven, check in with the guy in the red suit with the pitch fork and pointed tail.  He has an eternal resting place reserved for you surrounded by fire and brimstone.

There is a sales forecasting equivalent to The 7 Deadly Sins.  They are activities that companies perform in their daily, weekly and monthly sales forecasting processes that contribute to increased SKU-level sales forecast error.  The 7 Deadly Sins of Sales Forecasting have consequences that are the supply chain equivalent to fire and brimstone, including increased sales forecast error, excess inventory and missed customer due dates.

Avoid  The 7 Deadly Sins of Sales Forecasting and you will be well on your way to building a world-class demand planning process.

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Automated Scheduling Methods

Many theories and commercial software solutions for Advanced Planning and Scheduling, known as APS, have appeared over the years. Ultimately, scheduling systems strive to answer the question of “When should this task be scheduled, and what resources should accomplish the work?” This paper examines the available methods for quickly creating production plans and schedules for manufacturers to meet their business objectives.

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Is APS Right For You?

Demand Solutions is an Advanced Planning & Scheduling (APS) solution that integrates with your ERP system, enabling you to optimize your production schedule based on efficiency goals, profit objectives, customer service and other key business drivers. For companies that require APS capabilities, the impact can be significant in terms of increased efficiency, improved customer service levels and increased visibility across departments.

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Selecting Scheduling Software

The shop floor scheduling problem has been around for a long time. The research community started publishing articles in the 1950s, with a flurry of stories about it appearing in the ‘60s and ‘70s. The first book on industrial scheduling was published in 1963, and the first book on the theory of scheduling was published in 1967. Although there was a vast amount of research devoted to this problem, it soon became apparent that the general problem would not be solved easily. The field of complexity theory emerged in the late ‘70s and early ‘80s, which basically proved that it was unlikely the general scheduling problem would ever be solved.

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Using APS for Effective Scheduling in the Food Process Industry

Many theories and commercial software solutions for Advanced Planning and Scheduling, known as APS, have appeared over the years. Ultimately, scheduling systems strive to answer the question of “When should this task be scheduled, and what resources should accomplish the work?” This paper examines the available methods for quickly creating production plans and schedules for manufacturers to meet their business objectives.

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Forecast Performance Analysis Checklist

Forecasting can and should be a process of continual improvement. The only way to improve is to keep score, evaluate the results and apply the lessons learned from each critique. This process requires discipline and consistency. Discipline and consistency can best be enforced through the use of checklists. If your business suffers from a flawed forecasting process, a performance analysis checklist is a simple, no-risk – and free! – tool that will help keep your forecasting process on track and on target.

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Manage What Matters: The Pareto Principle, ABC Analysis and How to Manage by Exception

This paper provides numerous examples of how the 80-20 rule applies in the real world, along with anecdotes on the Pareto Principle and Pareto the man. Download this paper to glean insights into a key aspect of inventory planning and management. It’s an actionable document, with the 7 steps required to run and regularly update your ABC rankings, and 10 innovative tips on how to apply ABC Analysis to manage what matters.

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Top 10 Inventory Mistakes and How to Correct Them Webinar Q & A

Demand Solutions Principal Fred Tolbert answers all questions raised during the APICS Webinar, “Top 10 Inventory Mistakes and How to Correct Them” sponsored by Columbus IT and Demand Solutions. Download this Q&A document to see what’s on the minds of people in the Supply Chain function at companies across the country.

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The Disconnected Supply Chain: How SCM Software Breaks Your Supply Chain and What You Can Do About It

In his latest report, analyst and columnist Josh Greenbaum identifies “Big SCM” as the culprit of failed supply chain projects at mid-market companies. He argues that the oversized and overpriced supply chain management software lacks functionality and value that companies outside the Fortune 500 require. His suggestion – small and midsized enterprises should focus on fixing specific problems with specific best-of-breed solutions.

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Inventory Management - 3 Keys to Freeing Working Capital

Now more than ever, companies need to actively seek out best practices and practical initiatives that will free working capital while maintaining customer satisfaction. Download this Aberdeen benchmark report, sponsored by Demand Solutions, to learn the key performance criteria that distinguish Best-in-Class organizations such as:

Best-in-Class companies average a Customer Service Level 15% higher than all others.

Best-in-Class companies have Cash-to-Cash cycles three-times lower than all others.

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Managing Inventory for Optimal Advantage: 10 Common Inventory Mistakes and How to Correct Them

Written by Demand Solutions, a leading supply chain management software vendor, this white paper is an anecdotal account of its customers’ most common inventory management mistakes along with best-in-class solutions to the problems. “With more than 2,000 customers around the world, we have witnessed countless cases of inventory management problems,” said Demand Solutions president Bill Harrison. “Our latest white paper is a valuable resource for any manufacturer or distributor looking to incorporate best practices into inventory management processes to reduce expenses and increase profits.”

...Download the white paper now for a full list of the 10 most common inventory mistakes along with practical solutions!

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Inventory Management Woes? How Some Survive.

The climate is the same for everyone: rising prices, slowed demand and tightened credit. What's different is how you survive- or even thrive. Demand Solutions has chronicled those companies that gained advantage with an inventory management system to weather a downturn and documented the methodologies that led to success. This paper will change the way you view your inventory management challenges and open your mind to ideas on optimizing inventory management levels and unlocking your working capital.

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The Supply Chain Executive’s Strategic Agenda 2008: Managing Global Supply Chain Transformation

Aberdeen’s survey of more than 800 supply chain executives worldwide found just how tough the business pressures have become in their supply chains. This report highlights the critical role that supply chain executives can play in aligning business strategy with supply chain goals. In addition, the report aims to provide a process roadmap for supply chain executives faced with transforming their supply chains while delivering strategic value at lower cost.

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Rethinking the Global Supply Chain: Meeting the Complexity Challenge

The requirements of manufacturers to operate in a global, just-in-time market has made supply chains infinitely more complex. As a response, businesses have implemented equally complex supply chain management software to manage the complexity– but is this the right answer? Leading supply chain consultant Joshua Greenbaum challenges the notion of traditional supply chain systems and offers a robust, yet uncomplicated solution.

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S&OP’s Impact on Global Supply Chain Transformation - An EXCLUSIVE Aberdeen Group Report

Driven by the desire to contain costs, meet customer demands, and work in an environment where products are increasingly commoditized, companies are transforming both their domestic and international supply chains. This research brief addresses the use of sales and operations planning to manage customer-specific requirements that arise from geographical and demographic differences. This brief also describes process, organizational, and technology best practices that are enriching performance.

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Sales & Operations Planning: Aligning Business Objectives with Supply Chain Tactics

Sales & Operations Planning (S&OP) was identified as the number two area of focus for companies, based on a recent survey of 805 companies for The Supply Chain Executive's Strategic Agenda 2008 study. The goal of this year's report is to identify how the S&OP process is helping corporate executives accomplish their overall business strategy of product differentiation, customer service differentiation, cost reduction or profitability.

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Aberdeen S&OP AXIS Report Released

Demand Solutions has been selected Best-In-Class in Value Delivered in the latest Sales & Operation Planning Solutions AXIS. This rating, based on KPIs from Aberdeen benchmark studies, is indicative of Demand Solutions’ commitment to value and high customer satisfaction and the depth of our S&OP installed base. Download the Aberdeen S&OP report to read about how S&OP vendors compare.

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Guide to Improving Forecast Accuracy

Creating a more accurate demand plan allows you to reduce your inventory, lower your carrying costs and increase your revenue. Download this Demand Solutions white paper to read our 10-point plan for creating more accurate demand information. Learn tips for inventory planning, demand planning, sales & operations planning and forecast management.

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Are Spreadsheets Sabotaging Your Profits? - A Brown Smith Wallace Independent Research Note

Next to your employees, inventory is your largest asset. Why are you planning your inventory with a $500 spreadsheet? According to an independent study conducted by Brown Smith Wallace, spreadsheets are fraught with error. Yet 90 percent of organizations continue to use them for key business decisions. Sales forecasts, inventory levels, and ultimately customer satisfaction are subject to spreadsheet error. This research note examines the repercussions of spreadsheet forecasting and offers alternative tools to drastically increase forecast accuracy and overall profits.

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