New Product Release: Market Forecast Manager
Market Forecast Manager is a new premium add-on to the Advanced Planning application where users can pull in external forecast data from analyst organizations such as IHS Markit. A brief introduction is provided below. To learn more about the solution and/or inquire about pricing, please contact support.
The first release of this product focuses on IHS Markit's Light Vehicle Production Forecast data. The solution provides users with an active IHS Markit subscription, or customer provided IHS Markit forecast data, with the capability to search and associate vehicle production forecasts to companies, customers, and SKU combinations. The user can then determine what share of that forecast volume they have and how many of the specific part they have relative to one unit of IHS forecast (e.x. sell 4 tires for every one vehicle). For existing parts this becomes the demand plan that the demand planner can further edit and drive the supply plan for day-to-day ordering.
This solution also provides users with the capability to review forecast data and identify potential sales opportunities not currently have under a company’s contract. For example, there may be a forecast in the IHS data for a vehicle that the company currently does not supply. Users can search and identify these programs as future opportunities. They would then manage these opportunities as part of their normal sales process. As an added bonus, they can use this information to assess the impact of winning the opportunity against revenue, margin, and capacity. If the opportunity is secured, the plan will be change to execute in order to drive the supply plan.
A summary of this new add-on is provided below.
Summary of Market Forecast Manager Components
This is where users can map the program forecast data with customers and items. Users may expand the view to commence mapping or view existing mapping. A check in the “Mapped” column identifies programs that have already been mapped.
User may add one or more customer / SKU relationships to a forecasted program.
Variables such as confidence, take rate, and split rate may be applied against the provided program forecast. A lead time may also be entered to offset the forecast values to drive production requirements earlier.
“Mapped Programs” are provided in the “Programs” tab. User can view performance metrics and change plan statuses.