by Jon Schreibfeder | Feb 15, 2015 | Forecasting, Stocking Decisions
“Lean” is a popular word in commerce today. There are a lot of books, articles and seminars that will tell you how to get the “fat” out of your business. Last week I read an article that advised every distributor and manufacturer to practice “just in time” (JIT)...
by Jon Schreibfeder | Jul 15, 2014 | Forecasting
Last month we introduced the “Record, Report and Evaluate” procedure for obtaining for predictions of how sales or material consumption will change in the future. This month we will continue to explore how we can obtain the most accurate estimates of future demand...
by Jon Schreibfeder | Jun 15, 2014 | Forecasting
An accurate forecast of future demand is a crucial element in properly stocking products. Many computer systems include time-series forecasting models. Some of these tools do a good job of estimating future demand of products, but all have one major problem; they can...
by Jon Schreibfeder | Mar 15, 2014 | Forecasting
Many computer systems utilize past usage history when forecasting future demand of products. Seasonal forecast formulas in these systems typically look at what was sold or used in this month (and possibly subsequent months) last year. For example, if you are...
by Jon Schreibfeder | May 15, 2013 | Forecasting
Most computer systems provide buyers with out of stock reports. These are listings of stocked products with no available inventory. Because of the stockout, sales orders cannot be filled and salespeople cannot provide the service their customers expect. Buyers must...
by Jon Schreibfeder | Mar 15, 2013 | Forecasting
Most computer ERP (enterprise resource planning) software packages replenish inventory with minimum and maximum quantities or reorder points and reorder quantities. The forecast, a prediction of what you are going to sell or use in the future, is an integral element...
