Accurate Demand Forecasting: A Key to Effective ERP [GUEST POST]

Posted on Dec 22, 2016 2:27:18 PM by Nick Mears

To complement Macola 10, we partner with best-in-class third party providers to offer add-on solutions that integrate with our ERP solution, Macola 10. Today, we are pleased to feature a guest blog post from one of our technology solution partners, Business Forecast Systems, Inc., which offers Forecast Pro for Macola, a comprehensive forecasting and forecast management system that is affordable, easy-to-use and offers the ability to create accurate and credible forecasts, as well as provide the tools to efficiently manage, monitor and improve your forecast process—and of course—integrates with Macola 10:

 

Generating an accurate demand forecast is a key to effective ERP.  Most successful demand forecasting processes evolve over time. As a starting point, organizations often create processes which tend to be ad hoc and heavily reliant on judgment and simple spreadsheet formulas.  

Over time, the problems associated with these simplistic approaches become apparent—poor forecast accuracy; unintentional human error; lack of visibility and accountability; and the inability to reliably replicate or transfer the forecast process.  As frustrations mount with these ineffective, time-consuming approaches, organizations recognize the benefits of adopting a dedicated forecasting solution.

For this, Macola has partnered with the market leader—Forecast Pro. Forecast Pro users generally see immediate, significant improvements from implementing this comprehensive, easy-to-use, integrated solution for creating accurate, credible demand forecasts.

Regardless of how sophisticated the demand forecasting process is in an organization, four basic steps are required for it to be effective:

  • Generating baseline forecasts
  • Adding judgment
  • Tracking accuracy
  • Improving the process

It can be easy to lose sight of their importance if you don’t take the time to step back to look at the big picture, particularly while caught up in addressing thorny day-to-day problems.

In the on-demand Webinar Four Basic Steps for Creating an Effective Demand Forecasting Process, Eric Stellwagen, President of Business Forecast Systems, reviews each of these important steps. Drawing upon 30+ years of helping organizations to create and improve upon their forecasting practices, he focuses on the best practices organizations should strive to implement as well as the pitfalls to avoid.

 

 Webinar

 

We are pleased to be able to share this guest blog post from Business Forecast Systems, Inc., which offers Forecast Pro for Macola, a comprehensive that provides a comprehensive forecasting and forecast management system that is affordable, easy-to-use and offers the ability to create accurate and credible forecasts. Thank you for your interest in this guest blog series. We look forward to sharing future posts from other partners with best-in-class third party providers who also offer add-on solutions that integrate with Macola 10.

    

The ERP Blog covers the impact of Enterprise Resource Planning (ERP), business software and accounting solutions on organizations in the manufacturing and distribution industries.

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