Demand Forecasting Essay Example

Demand Forecasting Essay Order Management Systems 6. Demand Planning 7. Procurement Planning 8. Name of the software those are available in the market 1. Enterprises Resources Planning ( ERP) A. Total ERP B. Oracle Ill ERP or Enterprise Resource Planning software provides and cover variety of essential functions that Integrates every department of your business around the world by providing real-time view of your data and processes. ERP also streamline every department workflow for better decision making and growth. An ERP software package can help your business in many ways some of them are as follows: ERP helps in streamlining your Business Process and Workflow It helps you in better customer support and services You gain real time data from various departments allowing quick and powerful session making Reduce paper work, duplication of entries and Manual entries. To summarize ERP system helps in increasing your productivity level, profits and altogether growth of our organization. 2. Ware House Management systems. A. Fire WHAMS b. CEO RIFF WHAMS Warehouse Management Systems are primarily designed to combine the functioning of hardware, software, and peripheral devices. Implementation of a well designed competitive advantage through real time inventory management, reduced labor costs, superior customer service, increased inventory accuracy, better flexibility and expensiveness. Present day warehouse management systems are increasingly relying on a mix of new and old innovations to better integrate warehouse operations into the overall supply chain in a cost effective way. We will write a custom essay sample on Demand Forecasting specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Demand Forecasting specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Demand Forecasting specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The must have features of a WHAMS that primarily contributes in developing a lean supply chain are: Business Intelligence Business Intelligence identifies, extracts, and analyzes the entire business data in real time and converts it into functional information. All these information are then displayed in customized dashboards to the decision makers thereby enabling greater usability of the supply chain and hence improved and efficient decision making capability. The major Business Intelligence functions for warehouses are: o Inventory Analysis o Track Inventory turnover o Space utilization Analysis o Barded tracking for Inventory and material o Perfect Order management Integrated EDI system EDI enables organizations exchange business oriented information such as purchase orders, invoices, sales orders, vendor bills, and inventory orders and list. It utilizes a mapping tool which transforms information into an internationally accepted standard format. The following are some benefits of EDI integration with WHAMS: o a. Less paper handling Real time information No mailing cost Faster exchange of data and relevant information No repetition of data Direct communication Transportation Scheduling Systems :- De- Facto Software Transports computerized scheduling and dispatch software provides the tools you need to optimize your routes. Key Functionality Includes: Live scheduling using calendar functions Ability to quickly book trips from pick up to drop off Automatic client look-up feature for repeat trips allowing for quick routing Google Maps automated distance ululations as your aide Assign runs based on drivers and vehicles 4. Manufacturing Execution Scheduling :- a. Fact MESS. B. SAP MESS c. Manufacturing execution system (MESS) software is used to manage and monitor work-in-process on the factory floor. Plant managers and production personnel use MESS software to support collaborative manufacturing strategies that are designed to integrate disparate data streams from a companys supply chain, factory floor, and enterprise resource planning (ERP) system. Selecting manufacturing execution system (MESS) software requires a detailed analysis of capabilities and features. Some rodents provide operator instructions for each stage of production. Others provide finite scheduling, workflow management, resource planning, and quality analysis (CA) features. Most MESS software is designed to improve asset productivity, reduce order- to-ship times, and eliminate costly rework. Typically, industries that implement manufacturing execution system (MESS) software treat cycle-time, the total time to produce an order, as a key performance indicator (KIP). D. Machine monitoring sensors and shop floor data collection (SF) terminals transmit production data from the factory floor to manufacturing execution system (MESS) software. MESS software that includes supervisory control and data acquisition (SCADA) features can collect data from machine-mounted sensors. This information is then transmitted to a central computer for processing. In turn, software-based algorithms send real-time instructions to devices such as programmable logic controllers (PL). Some manufacturing execution system (MESS) software is designed for use with manual SF terminals. With these systems, users enter information such as Job numbers, labor codes, and production counts. E. Manufacturing execution system (MESS) software can be used to schedule tasks by facility, work center, machine, and/or employee skill set. Products that include capacity planning features allow schedulers to load Jobs against an organizations total production capacity. Advanced production scheduling (APS) offers finite scheduling options and a visual representation of projected workloads. Production requirements planning (PR) and material requirement planning (MR.) allows schedulers to define processes with multiple tasks. Manufacturing execution system (MESS) software that integrates PR and MR. with inventory management and procurement can generate a schedule which specifies when required materials should be ordered. 5. Customer Relationship Management:- a. Quality Integrity CRM b. Sotto CRM c. Age CRM Well-designed CRM includes the following characteristics: 1. Relationship management is a customer-oriented feature with service response based on customer input, one-to-one solutions to customers requirements, direct online communications with customer and customer service centers that help implement sales promotion analysis, automate tracking of a clients account history for repeated sales or future sales, and also coordinate sales, marketing, cal l centers, and retail outlets in order to realize the salesrooms automation. 3. Use of technology. This feature is about following the technology trend and skills of value delivering using technology to make up-to-the-second customer data available. It applies data warehouse technology in order to aggregate transaction information, to merge the information with CRM solutions, and to provide KIP (key performance indicators). 4. Opportunity management. This feature helps the company to manage unpredictable growth and demand and implement a good forecasting model to integrate sales history with sales projections. 5. Order Management Systems :- a. Order Motion b. Ability MOMS Order Management c. CSS Order Management Manage Your Customers Consolidate your multiple sales channels, along with your Customer, Order, Inventory, and Marketing information all within the MOMS Order Management Software Platform. Allow Customer Service Reps to have access to data at their fingertips for keeping in touch with their customers. Search, display, export, update, and reference all customer data within one user interface for Cars, sales, and marketing teams. Handle Your Orders View your transactions and order statuses live, online, 2417, while maintaining your customers order history for future up-selling and reporting. Place orders, process drop shipments, and amend existing orders from a single domain or from multiple domains and sales channels via our Order Management Software. Create purchase orders and process Vendor drop ship orders automatically via our Order Management Software. Monitor Your Inventory Predict estimated depletion dates and set automated reorder points, while keeping up -to-date on current stock levels and inventory in real time. Minimize stock on-hand and eliminate excess storage with the ability to calculate minimum order quantities and thresholds, based on previous order history and current inventory data. Increase Your Sales Configure Special Offers and E-mail Promotion by using history of sales reports. Create geographic promotions, based on product movement and popularity, down to the SKU level. Manage your Sales Reps, Affiliate Programs, and Referral Tracking, to see where your sales are coming from. Ship Your Products Generate labels, packing slips, and tracking numbers, while using multi-carrier shipment options to best suit your customers needs, all through our Order with RFC Guns, Picking, Packing and Order Processing, all with real-time inventory features. Manage auto shipments, drop shipments, and create backorder shipment options. Save Your Money Reduce shipping fees and significantly improve your shipping revenues, while keeping your customers happy. Use our Order Management Softwares automated shipment information to get a list of real-time rates that are instantly returned from major carriers. Access estimated arrival dates easily for both domestic and international shipm ents. Pass on margins or discounts based on total shipping cost or a flat rate to your end consumer. 6. Demand Planning :- a. Sotto Demand Planning Software b. Oracle Demand Planning software c. A Demand Planning Process describes the activities that are required to develop one agreed organizational plan to drive sales and operations planning and financial planning. The first stage of the process is for forecasts to be developed through statistical analysis and Judgments. The second stage is to have management and stakeholder overview of the forecasts to ensure ownership but also to override with strategic requirements, business policy and business knowledge. In large organizations, demand planning often involves overview or constraining at a central bevel, unconstrained forecasts that have been prepared at a local level. This may be to ensure fit with the overall marketing strategy of the business when supply is constrained. D. The forecasting process should be based on historical demand data, information from the market and should also account for impacts of strikes and promotions. Ideally history of sales should be demand history and not actual sales history. The reason is that sales history may reflect what the customer was forced to accept at the time due to shortcomings in customer service or business performance rather than hat they had preferred at the time. E. The management and stakeholder review is critical for obtaining ownership by sales management and is where ideally customer overview should also be obtained (collaborative forecasting). Overall, demand planning should be seen as a process using expert people supported by forecasting tools where appropriate, not the other way around. 7. Procurement Systems:- a. I sourcing Solution b. Procuring c. Oracle Ill d. Oracle Procurement software is business software that helps to automate the purchasing function of organizations. Activities including raising and approving purchase orders, electing and ordering the product or service, receiving and matching the invoice and department to see everything that is ordered, ensure that nothing can be ordered without correct approvals, and lets them get the best value by combining several orders for the same type of good or even getting suppliers to bid for the business. There are literally thousands of e-Procurement software providers. Procurement software comes in industry specific forms, such as Traced for global trade,for hospitality industry, Procuring for construction and software industries, or generically or all types of spend from software vendors like Dodo, GAP, Spend, b-pack, Arabia, SAP, Automation Centre, or Oracle. Buying organizations choice can be driven by the particular strengths offered by each individual system and the number of vendors available through them. A multinational or otherwise large organization will use a shared procurement system to take advantage of economies of scale to drive down the cost of purchases. While traditionally most e-procurement software systems have been designed for larger organizations, there are now also systems available for the SMB market, such as the Free-procurement Project by Spend. Whilst some services are available to purchase through automated systems, the key strength of these systems lies in the procurement of commodities that are much easier to standardize. . The key benefit for organizations using procurement software include ease of administration and potential long-term cost savings. Having a single interface for procurement related management information cuts down the time and effort required to monitor organizational spending. The use of such software also allows procurement managers to control the vendors used by the wider organization o all employees take advantage of negotiated rates and other terms of service. Common Features of Procurement Software Systems a. Requisitions Creation of a purchase order with line items to be fulfilled by a vendor. Automated Sending via Fax or Email b. Vendor Follow Up Automated, or reminders to follow up with Vendors to Confirm Purchase Orders. C . Receiving of Goods or Services Maintaining a physical inventory of goods. D. Financial Settlement Creation of financial and/or inventory related transactions as goods are physically received. Conclusion :- These are above described about Technologies those used in SCM process.