Retail is detail. And there is a lot of ‘detail’ for retailers to manage and factor into the business every day. When it comes to external variables, nothing is more consistently and directly impactful on demand than the weather. This is because the weather influences consumer buying behavior everyday – and it never stops changing; […]

Retail planning customers can isolate, measure, and manage the influence on weather on their businesses     BOSTON, February 16, 2022: ToolsGroup, a global leader in supply chain planning and optimization software, has partnered with Planalytics to integrate their weather-driven demand (WDD) analytics with ToolsGroup’s retail planning solutions, enabling customers to isolate, measure, and manage […]

Demand forecasting software can usually factor in climate and seasonality, like more ice cream being sold during summer months or in warmer climates, but weather data adds a more granular time-sensitive signal. Weather can drive demand: like heat and beach goods, rain and umbrellas, or snow and shovels. But forecasting demand for weather-dependent goods can be challenging because it can […]

Meeting Demand Surges in the Restaurant Supply Chain Peak demand days—such as National Hamburger Day or Super Bowl Sunday—create major stress on restaurant and foodservice logistics. To successfully optimize food supply chain operations during these surges, businesses must tightly manage ingredient availability, production schedules, and delivery timing-all within narrow, often unpredictable timeframes. Promotions, seasonal events, […]

Improving demand forecast accuracy is crucial for supply chain success. Businesses must analyze vast amounts of data to predict ever-changing consumer behavior accurately. Traditional demand forecasting methods often fall short, resulting in inefficiencies, excess inventory, and lost revenue. Machine learning is transforming the demand planning process, enhancing demand forecast accuracy, optimizing inventory management, and strengthening […]

In the fast-paced world of modern supply chains, traditional forecasting methods fall short. Advanced supply chain planning is being transformed by probabilistic forecasting, which revolutionizes demand forecasting, supply planning, and inventory optimization. This approach significantly improves forecast accuracy and enhances decision-making across distribution networks. Enhancing Inventory with Probabilistic Forecasting A supply chain is a complex […]

Safety Stock: Navigating Supply Chain Volatility Through Strategic Inventory Planning Demand volatility represents a critical challenge for supply chain executives today, with safety stock emerging as a key strategic tool to mitigate market uncertainties. Recent tariff policies have intensified these challenges, creating unpredictable shifts in demand planning requirements and increasing market volatility. Higher costs, trade […]

Machine learning (ML)—a specialized field within artificial intelligence (AI)—is revolutionizing demand planning and supply chain management. Beyond simply improving forecast accuracy, today’s ML-powered demand forecasting software uncovers hidden supply trends, anticipates pricing fluctuations, and enables proactive supply chain planning decisions.  According to McKinsey, organizations implementing AI-driven demand forecasting solutions can reduce forecast errors by 30% […]

At ToolsGroup, we’ve long championed probabilistic demand forecasting (also known as stochastic forecasting) as the cornerstone of effective supply chain management software. This advanced approach transforms demand planning from merely “good” to truly “exceptional,” providing businesses with a competitive edge in today’s volatile markets. The Limitations of Traditional Single-Number Forecasting There are fundamentally two approaches […]

Uncertainty around tariffs is a critical challenge facing every business today. To have any chance of thriving during this kind of market disruption, your business must leverage data effectively to optimize pricing and protect profits. There are three common approaches to inflation pricing that people depend on to weather inflation: descriptive, predictive, and prescriptive. Only […]

Demand planning has evolved dramatically in recent years. Businesses have to shift from supply-focused approaches to advanced demand forecasting models. Traditional forecasting methods often fail under high variability, leading to excess costs, stockouts, and obsolescence, and still struggle to balance accuracy with agility. What is Demand Forecasting in Supply Chain Management? When planning your demand forecast, […]