Big Data Took Center Stage at IBF Best Practices Conference and Leadership Forum

Feb. 13, 2015 - PRLog -- Forecast Errors newsletter reported that the Institute of Business Forecasting & Planning – IBF Blog, recently had Tom Savage discuss the IBF Best Practices Conference and Leadership Forum.  Big Data was an underlying commonality between speakers and had to address at some point in their company’s journey in forecasting as well. There were consummate professionals and experts in the field from companies such as L’Oreal, Coca-Cola, Motorola Mobility, Tastykake, Hershey’s, and Tempur Sealy International just to name a few. Collectively there were hundreds of years of experience all in one place and very willing to share their experiences and expertise.  During the Executive Leadership Forum on the first day, it became clear that this conference was going to be a bit different than those of the past.

Forecast Errors, a weekly e-newsletter, sponsored by Ultriva, Inc. shares methods, modes, and tools used to inform Manufacturers’ of forecast errors that they face on the manufacturing floor, and with 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.

A forecast error is the difference between the actual and predicted value. The consequences are expensive inefficiencies that can be resolved with lean manufacturing technology.

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Ultriva’s (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.

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Cynthia Leonard
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