Manhattan has launched a forecasting method to help plan inventory levels for products with unpredictable buying patterns.
Unified Forecasting Method is an algorithm leveraged within Manhattan’s Demand Forecasting suite that is able to sense shifts in market demand and remove wasted inventory based of seasonal products and those that are only needed sporadically.
It was developed by blending four different forecasting methods.
“We put the Unified Forecasting Method through a proof-of-concept with one of our customers last year and projected an inventory savings of almost $150 million, along with significant service level increases,” said Eddie Capel, executive vice president, Global Operations, Manhattan Associates. “Demand Forecasting is an ideal technology to deploy during tough economic times – easy to adopt and delivering meaningful, tangible results.”
Demand Forecasting can be deployed as a standalone product or synchronised with Manhattan’s Financial Planning, Item Planning and Inventory Optimisation software, all of which are part of the Manhattan SCOPE portfolio, designed to help organisations optimise their supply chains from planning through execution.