FusionOps Introduces Predictive Analytics For The Supply Chain
FusionOps, the provider of a cloud-based analytics platform, announced today the availability of predictive analytics for the supply chain.
The FusionOps predictive analytics capabilities will be applied to key aspects of the supply chain process, helping companies achieve success in key initiatives such as mitigating supply risk, reducing inventory from returns, predicting maintenance requirements, and improving demand forecasting.
Using FusionOps’ Demand Forecasting, companies can improve the accuracy and efficiency of their forecasting process to drive more optimal production plans, thereby eliminating excess inventory and ensuring adequate supply. FusionOps is the first company to automate the entire end-to-end process of extracting the data, applying the algorithms and visualizing the results in a single application.
“As the leader in supply-chain analytics, predictive is a natural extension of our platform,” said Gary Meyers, CEO of FusionOps. “Demand forecasting provides a remarkably powerful method to develop accurate forecasts down to the SKU level, as both an input to demand planning solutions, as well as a statistical check on market and sales based forecasts. Users get this out of the box, without the time-consuming processes of curating data, developing models, and visualizing the results. We’re excited to continue providing the innovation fueling the most efficient and advanced global supply chains.”
FusionOps demand forecasting capabilities include fast predictions across massive amounts of data, allowing predictions on thousands of SKUs in just a few hours; availability of ten different statistical models, with more in development, which are automatically selected and applied on an SKU basis; the ability to aggregate and view demand across multiple dimensions, such as product line, region, time interval and more to support demand planning solutions.
The demand forecasting product also allows users to immediately understand revenue impact by quarter or by region in an intuitive infographics format and to embed external data, such as Google Trends, macroeconomic data, and weather, to analyze their impact on demand.
Typically seen as the domain of data scientists, predictive analytics have not received broad usage among the people who need future insights the most: business users. Furthermore, most predictive analysis efforts are time consuming, project-based, and don’t have a continuous impact.
FusionOps predictive analytics addresses these issues by leveraging the most advanced and intuitive self-service supply-chain analytics platform available in the market. This is another way the FusionOps platform automatically transforms unlimited sources of data into actionable information for business users without the need to employ data scientists.