Foresight’s inventory management process
is uniquely effective at minimizing the negative impacts of forecast error. Take the example of a company introducing two new products. Since there is no history available for new items, sales forecasting is especially difficult. The sales force thinks they will sell 100 units of product A and 500 units of product B. The rest of the downstream processes, including DRP, MRP and MPS all plan accordingly. But suppose you then realize that sales are tracking in just the reverse of the forecast. You suddenly need to increase production of product A, decrease production of B, and adjust the plan downstream accordingly. This may sound simple enough, but many current systems make it extremely difficult. The detail required to identify this situation is buried so deep in the system that it is almost impossible to find in time to meet the actual demand.
What makes us better?
With Foresight these kinds of opportunities, and the detail required to take advantage of them, float right to the top. Planners can respond more quickly and effectively to real market demand. Our competitors don’t offer this capability at all, while with Foresight, it is one of the most frequently used screens in the suite. One screen gives you access to every conceivable bit of information on each item—inventories, sales forecasts, shipment history, trends by customer, open orders, point-of-sale data, item specs, customer specs, production schedules, deployment plans, sourcing, lead times and DRP detail—all just a mouse-click away. This exceptional visibility ensures informed decisions and lower costs.