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Business can be defined in many ways. But one thing is clear; businesses are judged and valued by numbers. Businesses are measured and compared in with prescribed numerical measures. Certainly…
The easiest analogy to understand the difference between sales and operations planning and budgeting is to think of your business as a football game. Before the start of a game,…
While Plex Systems DemandCaster continues to provide the supply chain planning world with a robust software product that helps businesses of all sizes work smarter and grow better, explicit recognition…
In the earliest points in human history, as our earliest people became hunter-gatherers, there had to be some inventory management. Hunters developed crude wood and flint weapons to make their…
Let us continue with more financial based definitions for inventory. There are five ways that Finance can value the inventory. Most companies choose a method and rarely change. The methods…
Were you ever told as a child, "Honesty is the best policy?" My mother lived by this rule, "Always tell the truth! No exceptions!" she would say. But of course, she…
In manufacturing, itโs essential to have the right tool for the right job. Imagine a plumber without a pipe wrench during a critical break. Or think of an electrician without…
Production planning, inventory optimization, capacity planning, and distribution. Many companies invest significant time, energy, and training into these systems and turn a considerable portion of their production over to them.…
Forecasting Vs Demand Planning Companies use a variety of tools to predict where their business currently is and where it is headed. By โreading the tea leavesโ, planners attempt to…
Have you ever asked yourself demand planning questions like, "How should we focus resources on value add areas?" Or, "What forecast error measurements should I use, and how far in…