Sponsored by Ultriva, Forecast Errors, a weekly e-newsletter, shares methods, modes, and tools used in a variety of supply chain industries. In a recent issue, Ultriva asserted that any company desiring to save money through increased efficiency can benefit from the Lean Six Sigma methodology. Based in the lean manufacturing principles of eliminating waste and continuous process improvement, Lean Six Sigma is a set of process improvement-focused practices that help companies organize, analyze, and improve their overall business operation. By embracing the cultural methodology, manufacturers are making a total commitment to continuous improvement and product workflow optimization, with the ultimate objective of being a world-class company in every regard. Forecast errors are eliminated by streamlining production and eliminating non-value added processes. This implementation results in increased efficiency, higher quality output, and better customer service.The newsletter explores forecast errors as the difference between the actual and predicted value. Forecast Errors reports that what separates best-in-class companies from those that struggle with accuracy is how they root out (and learn from) forecasting errors. A forecast error is the difference between the actual and predicted value. The consequences are expensive inefficiencies that can be resolved with lean manufacturing technology.
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About Ultriva
Ultriva’s (www.ultriva.com) cloud-based platform leverages seamlessly integrates with leading ERP and MRP systems, to deliver an end to end pull based replenishment solution. Ultriva, based in Cupertino, CA, implements a global demand driven manufacturing model by providing full visibility, scheduling, and sequencing of production of customer orders. Ultriva was named one of the Great Supply Chain Projects of 2014 by Supply & Demand Chain Executive magazine and recently named one of 50 Best Supply Chain Blogs of 2014 by SupplyChainOpz. The company’s global footprint is increasing rapidly with implementations in wide variety of industry sectors and enterprises such as Magellan Aerospace, CareFusion, Emerson, Ingersoll Rand, McKesson, Triumph Group, Regal Beloit, Thermo Fisher, and more. Follow Ultriva on Twitter at @Ultriva.
Ultriva, Inc.
www.ultriva.com
Cynthia Leonard
Marketing Executive
cynthiaL@ultriva.com
408-961-2495