Cupertino, CA -- (SBWIRE) -- 05/12/2015 -- In a recent webinar, participants were asked, "How accurate do you think the forecast for your company usually is?" With 54% of the respondents claiming less than 60% forecast accuracy, it is not surprising supply chain professionals have to spend a large portion of the day making additional corrective action spreadsheets and providing them to suppliers. Supply chain professionals in the automotive, aerospace, medical devices, electronic components, fitness equipment, pharmaceutical, and manufacturing industries were also asked how to improve forecast accuracy within the company. Two choices, "changing production to a demand-driven model" and "implementing a pull process," (33% combined), though not a majority, bodes well for the future of manufacturing. This is one of many features appearing in Forecast Errors Newsletter. Each week features two to four topics with fresh interesting information.
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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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.
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Ultriva, Inc.
http://www.ultriva.com
Cindy McGowan
Marketing Executive
cindym@ultriva.com
408-961-2495