Syncron Demand Planning and Demand Forecasting software is a sophisticated tool for anticipating and shaping demand. It combines best in class statistical forecasting with market knowledge gained from internal and external collaboration providing a single, global view of the demand and inventory availability that provides the foundation for your sales and operations plan.
Automatic demand classification
This module classifies every SKU into different demand types (fast, slow, erratic, positive and negative trend etc.) and produces accurate forecasts utilizing the most appropriate forecasting algorithms. Demand type classification is performed automatically at the calculation of every new forecast which means that every item will always be classified into the correct demand type. This enables efficient and automatic management of the life-cycle of a SKU.
Our sophisticated demand forecasting software algorithms are designed to detect and calculate the seasonal patterns for SKU’s or groups of products that are influenced by seasonality. For such seasonal SKU the seasonality is automatically calculated and incorporated into the forecasting process. Special forecasting techniques such as a refined Croston methodology are used to handle highly sporadic and intermittent demand.
The only truth about demand forecasts is that they always are wrong. The key for utilizing statistical demand forecasts is to understand how large the forecasting error is in order to minimizing it. Therefore, forecasting accuracy is continuously measured and the demand forecasting software automatically re-sets to the most appropriate forecasting technique if the accuracy of the forecasts is outside the acceptable pre-set limits.
In addition to statistical demand forecast based on the demand history and seasonality market volume density and market knowledge has to be taken into account to further improve the forecast accuracy. Market knowledge such as planned machine maintenance, promotions, and new product introductions are managed effectively within the system with the minimum of human input. Syncron Demand Planning and Forecasting automatically neutralize peaks in demand caused by promotions, planned maintenance etc from the demand history.
Supersessions and replacements
Products are continuously being developed and therefore old versions are superseded or replaced. The system stores the demand history and the forecast linked between the product even if it is one-to-many or a many-to-one supersession.
With Syncron Demand Planning and Demand Forecasting software you can forecast confidently and adjust your plans quickly, meaning that inventory consumes less working capital while your customers receive more of what they want.