As June passes we think ‘vacation’. A tropical island is my vacation dream. My northern friends often ask how can I stand the extreme heat of the tropic. The answer to that question is also the highlight of our content this month – I adapt fast. The human body of is highly adaptable. “Our bodies, highly amenable machines that they are, can acclimatize to cold environments and warm environments, alike.” The internet of things (IOT) has been battled by the movie business longer than anyone. VCR, Netflix, Redbox and even YouTube have put the heat on the movie business. The movie business has done a great job “ADAPTING” by cutting locations, changing products and adjusting even things like length of movie and credits all to entice the customer to go to a movie. While many consultants and bloggers write about the end of brick and mortar retail, this is far from certain. I leave you with a quote to think about as you read this month’s cover stories.
Demand Forecasting Methods Highlight Differences between Demand and Sales
Demand Forecasting software will measure and account for Lost Sales, overstock and closeouts. These are three pitfalls of not having a demand forecasting software solution. Sales forecasting methods doom you to repeat last years sales. Without real Demand Forecasting, tracking lost sales is only a KPI. Read More
ATLANTA, June 23, 2015 /PRNewswire/ — Data Profits Inc., (http://www.data-profits.com), a leading mid-market solutiondemand forecasting provider, announced today that The Empire Company LLC has selected Data Profits for their demand forecasting, order management, and replenishment solutions.
The Empire Company LLC, headquartered in Zeeland, Michigan, is one of the largest millwork distributors in the United States. Their product lines include: moulding, stair parts, hardwood and softwood boards, plank paneling, PVC products, decorative moulding accessories, and columns. The Empire motto, “The customer always comes first”, has been the underlying theme to their success and growth. Finding a new partner to continue their success was a key decision for their organization’s future.
“Adopting Data Profits’ solutions will positively impact our cash flow, and give us better tools to maintain the high service levels our customers expect,” stated Empire’s Kevin Spalding, VP of Supply Chain. “The iKIS™ solution provides higher supply chain visibility, more accurate demand forecast, and streamlines our replenishment processes.”
“Social media has created a constantly changing marketplace, forcing retailers and distributors to adopt responsive demand forecasting and replenishment processes. The results from iKIS™ are unlike anything previously available from legacy distributor systems,” said Stuart Dunkin, CEO of Data Profits. “By focusing capitol spend on better selling products, our customers see higher service and sales.”
ATLANTA, June 2, 2015 /PRNewswire/ — When it comes to software-as-a-service (SaaS) providers, things aren’t always as they seem. In fact, some software vendors calling themselves SaaS providers may actually be representing Web-hosted or cloud-based services–which, although similar to SaaS, are typically less secure and more costly. Now demand forecasting companyData Profits wants to make sure potential clients know the critical differences between SaaS and Web-hosted solutions.
“Many vendors have latched onto SaaS as a buzzword but have not actually built an architecture supporting that model,” said Data Profits founder and CEO Stuart Dunkin. “Prospective clients may not be aware of that key point, but the difference is important. True SaaS entails efficiencies that Web-hosted services cannot match, not to mention a significantly smaller risk profile.”
Dunkin offers tips for organizations who want to make sure they’re dealing with a SaaS provider and not a Web-hosted solution. First, and most obvious, are updates. If a vendor only releases updates once or twice a year, it’s a Web-hosted software. Infrequent updates typically mean the software has been reconfigured for each end user, making the addition of new features a difficult, expensive and frequently time-consuming task–and putting client organizations behind the curve of competitors who have deployed an easily and frequently updated SaaS solution.
What Do You Really Know about Demand Driven
Demand Driven sounds impressive doesn’t it? Sales and marketing people keep saying you need to be ‘Demand Driven’ and let’s be honest, most marketing and sales folks are like politicians, they can say a lot that sounds amazing but do very little to support their message or meaning. To understand the importance of Demand Driven, you need to identify what is true and what is false about Demand Driven concepts, otherwise the Buzz Term Demand Driven just becomes a Buzz Kill.
iKIS Promotion Management Module Provides Cutting Edge Retail Promotion Forecasting
ATLANTA, July 22, 2014 /PRNewswire/ — Data Profits Inc. announced the release of their iKIS™ Retail Promotion Solution that extends End-to-End Promotion Planning for the Retail, Wholesale, and Grocery Industries.
Data Profits (http://www.data-profits.com), a leading mid-market Supply Chain Management (SCM) solution provider delivering key demand driven forecasting and inventory replenishment functionality that leads to higher supply chain performance and profitability, is excited to offer new functionality to its customers and their suppliers that provides an end to end solution for trade promotion planning and execution.
Predicting the Unpredictable: Inventory Optimization Software
Inventory Optimization – nine syllables, two words, one concept. It means having what you need when you need it. Too much inventory can cut your profit margin; too little inventory can prevent you from meeting demand and tip your customers toward the competition. Sounds simple: but in reality, the inventory optimization math any supply chain process will use is as important as the metal alloy used in forging a chain of metal links. You can find cheap, plastic chains, and you can find expensive chains formed from strong metal alloys with all kinds of irresistible names and features.
Lead Time is a critical link in your supply chain that can create big mistakes like overstocks and out of stocks. The industry answer to these mistakes has been Lead Time tracking. In fact, Lead Time Tracking has become a cottage industry where companies offer to track lead time and make a supplier pay a fee when they don’t conform to guidelines like on-time and fill rates.
Numerous studies have shown fines for bad behavior have made little impact toward improving business. The shocking fact from many studies is that overstocks and out of stocks occurred at an alarming rate when on time deliver and 95% + fill rates were achieved! The biggest mistakes found were the replenishment orders were placed on a date to soon or to late in relation to the days supply on hand. Sadly, most companies don’t use lead time as a key metric in their supply chain to determine an item order point. Most inventory replenishment systems today are driven by plans or open to buy spreadsheets which are top down methods to determine the item order date. There are better answers…
How close are your Inventory Replenishment processes to your end customers? Inventory Replenishment controls your largest dollar investment; is it the strongest link in your chain or is it time to tighten this link in your chain? Today’s smart phones have created smarter customers with higher service expectations for their retail stores. The information super highway has shortened a retailer’s corporate decision timeline for demand planning and inventory replenishment responses to market changes. The challenge is how to become more customer centric. How do you provide higher service for your customers with the right products, in the right quantity, at the right location, all in less time?
Inventory Optimization is a link in your chain that is often misunderstood and misquoted at inventory meetings and sales presentations in many businesses today. Inventory Optimization issues are always easy to find – Buyers, Sales People, and inventory managers of high-volume inventories often complain that there is too much overstocked inventory of slow selling products and not enough of the inventory that is in demand. Sadly, the unnecessary inventory is tying up working capital and taking up much needed storage space. This is a major issue that lowers profits, service attained and customer opinions.