- 10
- 15 992
Learning Supply Chain
United States
Registrace 25. 09. 2017
I have been working in the supply chain industry for more than 10 years. I come across different challenges and in response I develop appropriate solutions. The purpose of this channel is to share my experience and learning. This will help students and professionals working in the supply chain field.
Qamar Iqbal, PhD
Supply Chain Professional
Qamar Iqbal, PhD
Supply Chain Professional
Forecast Accuracy Metrics | Don't make these mistakes while applying | BIAS MAD MPE MAPE WMAPE
Applying forecast accuracy metrics are very important to get the desired results in supply chain. In this video, I reviewed the metrics and discussed when, where, and how each metric should be applied to improve the customer service level in a supply chain
zhlédnutí: 556
Video
Forecasting Unusual Demand in Supply Chain
zhlédnutí 71Před 7 měsíci
Forecasting when regular forecasting methods do not work #simplilearn #supplychainanalytics #inventorysystems
Measuring forecast error variability in supply chain using Bollinger Bands |Bollinger Bands|
zhlédnutí 243Před 2 lety
This video highlights the problems faced by supply chain due to variability in forecast accuracy over time. The first time, author introduced the power of Bollinger Bands method to visualize and measure the volatility or variability in supply chain forecast. #Forecast in supply chain #DemandForecast #Bollingerbands
Traditional ABC Inventory Classification VS Multi-Criteria Inventory Classification
zhlédnutí 571Před 2 lety
This video shows how to solve inventory classification problem using multi-criteria. The video also compares the results of single criterion ABC classification with multi-criteria ABC classification. The video highlights the shortcomings of traditional ABC inventory classification and addresses the issues by using multi-criteria inventory classification. Total score formula used in multi-criter...
Traditional VS Smart Demand Planning
zhlédnutí 1,1KPřed 2 lety
This video talks about how we can improve demand planning and forecasting in supply chain and take it to the next level Keywords: Supply Chain, Forecasting, Inventory Planning, Buffer Planning, Statistical Forecast, Retail Forecasting, Forecast Metrics, Demand Review, S&OP This method/idea presented in this video is copyrighted. #Inventory #Demand Planning #Forecasting #SupplyChain #Supply Chai...
Inventory ABC analysis and classification - New approach
zhlédnutí 2KPřed 5 lety
Related topics: Inventory classification Predictive analytics and Machine learning in supply chain ABC classification Multicriteria inventory classification Dynamic inventory classification This video is series#1 of predictive to prescriptive analytics in supply chain. In this video, I am showing example of inventory classification with respect to predictive/prescriptive analytics in operationa...
Inventory planning - Safety stock (Part 3: Modified approach)
zhlédnutí 1,6KPřed 6 lety
Inventory planning using safety stock: Safety stock basics, safety stock advanced concepts, safety stock formula, safety stock with standard deviation of demand, safety stock with standard deviation of forecast error, safety stock applications, issues with safety stock method, short comings of safety stock method using normal distribution, safety stock method with non normal distribution, modif...
End to end supply chain
zhlédnutí 3,3KPřed 6 lety
Related topics: Supply chain dynamics Supply chain optimization Supply planning Demand Planning
Inventory planning - Safety stock (Part 2: Issues with safety stock method)
zhlédnutí 2,6KPřed 6 lety
Inventory planning using safety stock: Safety stock basics, safety stock advanced concepts, safety stock application, issues with safety stock methods, short comings of safety stock methods using normal distribution, safety stock method with non normal distribution, modification of safety stock methods, and other proposed solutions of using safety stock method under different industrial setting...
Inventory planning - Safety stock (Part 1: Safety stock basics)
zhlédnutí 3,9KPřed 6 lety
Inventory planning using safety stock: Safety stock basics, safety stock advanced concepts, safety stock formula, safety stock with standard deviation of demand, safety stock with standard deviation of forecast error, safety stock applications, issues with safety stock method, short comings of safety stock method using normal distribution, safety stock method with non normal distribution, modif...
Thank you for the video, very informative! Question: Which approach to take while aggregating all these metrics for multiple items observed over last 'n' time periods? Does averaging makes sense? Because in the end we have to report a single metric to demonstrate the quality of our forecasts and it's always challenging for me to figure this out, given hundreds or thousands of forecasts.
Great video!
why do you have to normalize the total score at the end? I mean we already normalize the data of 2 criteria
Its a standard practice to reduce bias in the data.
Can you say How to maintain safety stock contant when forecast is change.
It is not recommended. Safety stock should be dynamic and linked to forecast changes. The mistake companies do, they don't touch their safety stock targets/levels as forecast moves up or down. They do it periodically.
valuable information
Thanks
As far as I know, Bollinger bands were not applied in supply chain forecasting before. Explore the full potential of Bolligner bands in this video. Please subscribe and share for more insightful videos in the future.
Nicely explained
Thanks for the video. How about the retail supply chain. We don't operate on BTF model.
We still drive materials on forecast though in BTF.
Awesome. The variability kills.
Yes. Correct
I think we can implement this method. Thanks for sharing.
Thanks
Good application of multi-criteria. It will be great if you show and compare the results of both AHP and linear programming method for weight selection.
Will do
very informative. Will be interested in more detailed video explaining each step, please
Will do
When will you make a video about NPI?
Not needed on this topic.
Good presentation though I am not a supply chain person. I note one thing about linking the lines for NPI FCST. Your chart shows is the output of two component 1. statistical forecast and 2. Sales inputs, however it is contradicting while your were explaining. Just an observation
NPI FCST also comes from Sales/product management folks. I didn't go into further detail in the video. I just said in general FCST components come from two sources. I am happy you watched the video and examined it.
Please provide your feedback on this video. Thanks for watching.
What is the criteria of weight assignation to cariteria?
Sorry for the late reply. Weight Assignment depends on user's decision which factor he/she considers more important than others. If using LP, you can write your constraints that will assign weight based on the important level you set. Other method you can use is AHP. I have published my research work on MCIC. www.tandfonline.com/doi/full/10.1080/21693277.2017.1322544 HV is Hadi-Vencheh (2010) model. Hadi-Vencheh, A. (2010). An improvement to multiple criteria ABC inventory classification. European Journal of Operational Research, 201(3), 962-965.
Is it HV model ? Any references for this model please ?
HV is Hadi-Vencheh (2010) model. Hadi-Vencheh, A. (2010). An improvement to multiple criteria ABC inventory classification. European Journal of Operational Research, 201(3), 962-965.
Interesting excercise. I believe in your second point, when using standard deviation of forecast errors,you should use RMSE instead, that would result in a higher SS. However, that would also mean that LTD shouldbe base in a forecast too instead of the demand data. So if you have a positive trend, a linear regression would be a good model. With the data you have, using LR as forecast, LTD would be 217.5 and SS wouldbe 15.08 for a Iof 232.57 whichibelive is highly possible that it covers LTD2. Again, interesting analysis.
Thanks for the positive feedback.
A video on 'Linear Optimization' technique with working excel sheet would be good for the readers.
Thanks for your comment. Yes, I am planning to work and post a video on this topic.
thanks you so much for the video, I was looking forward something like this. Can you suggest some more resources about dynamic inventory classification? google is not helping much
Dynamic is nothing but classifying inventory on real-time basis when the values in the criteria used are changing with time. I gave an idea on this video how can we do that. I can post more in the future.
than you for this video, very helpful
Thanks. I will start posting more.
@@learningsupplychain thank you Mr, can i ask for your help?
Nice explanation in simple language with out much jargon Sir. Excellent start. Please keep posting such good videos. Thank you Sir.
Thanks
What if the std dev of demand in Two periods are different?
Have been busy. Will let you know.
This is really very informative video
Thanks. I have started loading new content again.
The global manufacturing supply chain has experienced a number of changes. Managers approach to supply chain management on an end-to-end basis. In fact, in the end-to-end supply chain, we've been undergoing some of the biggest changes ever, mostly fuelled by technological advances.
That's true.
very informative