CloudSuite Industrial Forecasting

For discrete manufacturers, many factors contribute to an efficient operation and healthy bottom line. One important factor that can get overlooked is forecasting — determining the right amounts of raw materials and components needed to meet production requirements. A manual, informal process can result in costly excess inventory or order fulfillment and production efficiency problems.

At many companies, forecasting is done using inefficient and error-prone spreadsheets. To compensate, many companies maintain an inventory “fudge factor,” keeping too much inventory on hand. Other times, they maintain too little and consequently lose sales, incur expediting costs, or ship late.

Forward-thinking discrete manufacturers overcome these operational challenges by automating their forecasting processes with a solution integrated with their ERP system to help them quickly calculate more accurate forecasts and optimal safety stock levels.