Forecast Errors Lead to Unpredictable Supply Chain Disruptions

Dec. 12, 2014 - PRLog -- The recent Forecast Errors newsletter suggested that leaders using traditional risk-management techniques and simple heuristics (dollar amount spent at a site, for instance) often end up focusing exclusively on the so-called strategic suppliers; these expenditures are very high and whose parts are deemed crucial to product differentiation, and overlooking the risks associated with low-cost, commodity suppliers. As a result, managers take the wrong actions, waste resources, and leave the organization exposed to hidden risks. There are effective models which allow companies to identify, manage, and reduce exposure to supply chain risks.

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