Business analytics firm SAS has upgraded its Demand-Driven Forecasting software which will faciliatate ‘structured judgment’, removing guesswork from forecasting.
Demand-Driven Forecasting software helps manufacturers create accurate sales and operations plans through an efficient distribution networks.
The software is part of its Demand-Driven Planning and Optimization, a suite of products that improves demand and inventory management using advanced analytics, data integration, alerting, workflow, dashboards and reports.
The new release automatically tracks variations between forecast and actual numbers to guide sales and operations planning, the company said.
Updated version will enable SAS analytics to automates the selection of like items, facilitates the review and clustering of past product introductions and creates meaningful statistical forecasts.
This will help allocate supply chain resources, establish inventory levels and schedule sales promotions before a launch.
SAS Global Manufacturing and Supply Chain Product Marketing director Mike Newkirk said SAS Demand-Driven Forecasting helps customers drive down the risk of a new product introduction.
"SAS Demand-Driven Forecasting addresses this needed capability by using a patent-pending methodology called ‘structured judgment," Newkirk said.
