Data-Driven Analysis Mitigates Forecast Errors by Supporting Real-Time Supply Chain Visibilit

May 8, 2015 - PRLog -- The Operations & Supply Chain Club reported that companies like Union Pacific Railroad use thermometers and ultrasound to capture data about their engines and send it for analysis to identify equipment at-risk for failure if any. The world’s largest multi-carrier network for the ocean shipping industry-INTTRA uses its OceanMetrics application to allow shippers and carriers to measure their own performance. Companies are also using telematics and big data to streamline trucking fleets. GE believes these new capabilities can contribute $15 trillion to the global GDP by 2030 by using systematic and data-driven analysis. Ultriva supports real-time supply chain visibility. This is one of many features appearing in Forecast Errors Newsletter.

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.

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
Cindy McGowan
Marketing Executive
cindym@ultriva.com
408-961-2495