Critical Impacts of Forecast Errors Requires Kaizen Lean Manufacturing Process Review

Dec. 10, 2014 - PRLog -- The recent Forecast Errors newsletter reviewed a comprehensive research about demand forecasting process evaluation. Fifteen Brazilian companies were extensively examined including the critical impacts of forecast errors. The four dimensions of analysis were functional integration, application, system and forecasting errors, and the findings were that only 35% met satisfactory levels.  When two-thirds of these participants are at unsatisfactory levels there is a mandatory process review in order.  The authors suggest that forecasting demand is of fundamental importance to the competitiveness of a productive system.  Answering questions such as “how much,” “when,” and, “what” to produce and buy, guides professionals from various segments to improve their forecasting techniques.

To read the newsletter, go to: http://info.ultriva.com/newsletter/volume-i-issue-4-december-8-2014

Forecast Errors, a weekly e-newsletter, shares methods, modes, and tools used in a variety of supply chain industries. The newsletter explores forecast errors as the difference between the actual and predicted value. In the current issue, Forecast Errors argued that what separates best-in-class companies from those that struggle with accuracy is how they root out (and learn from) forecasting errors.

To subscribe to Forecast Errors, go to: http://info.ultriva.com/newsletter

About Ultriva

Ultriva’s (http://www.ultriva.com) cloud-based platform leverages seamlessly integrates with leading ERP and MRP systems, to deliver an end to end pull based replenishment solution. Ultriva, based in Cupertino, CA, implements a global demand driven manufacturing model by providing full visibility, scheduling, and sequencing of production of customer orders. Ultriva was named one of the Great Supply Chain Projects of 2014 by Supply & Demand Chain Executive magazine and recently named one of 50 Best Supply Chain Blogs of 2014 by SupplyChainOpz. The company’s global footprint is increasing rapidly with implementations in wide variety of industry sectors and enterprises such as Magellan Aerospace, CareFusion, Emerson, Ingersoll Rand, McKesson, Triumph Group, Regal Beloit, Thermo Fisher, and more.  Follow Ultriva on Twitter at @Ultriva.

Ultriva, Inc.
www.ultriva.com
Cynthia Leonard
Marketing Executive
cynthiaL@ultriva.com
408.961.2495