HoMedics’ First Goal: Cut Inventory with Better ForecastingPosted at - 01:00 PM on Mon, Sep 16, 2013

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HoMedics’ First Goal: Cut Inventory with Better Forecasting

Improving forecasting to reduce inventory is just the start of what health products distributor HoMedics expects with Infor Demand Planning.

The application will replace existing fragmented supply chain planning systems across HoMedics' United Kingdom, Italian and German entities with a web-based forecasting solution to enable near real-time collaboration between sales and operations. Infor Demand Planning will help to enhance forecasting and planning to improve the alignment of inventory with changes in demand, and allow HoMedics to explore various "what-if" scenarios, in line with seasonal demand changes. It will also reduce the administration burden of planning.

"Our initial goal is to realize a substantial inventory reduction through improved forecast accuracy, and we are very confident of a rapid return," explains Keith Allison, operations director, HoMedics Group Ltd. "But beyond this, Infor Demand Planning will also help us evaluate the routes of supply to our international distribution centers, to help us realize the optimum scenarios for both high volume and premium products, delivering the lowest cost of transport."

HoMedics already makes extensive use of Infor LN, and Infor Demand Planning will use data from this ERP application to improve budgeting and reporting, expanding the scope from simply forecasting to inventory and replenishment planning, helping to deliver a full range of reports that are key to support the sales and operations planning (S&OP) process of the company.

"Improved planning is consistently one of the top concerns of manufacturers like HoMedics, which face profound changes in seasonal demand patterns," said Pieter Leijten, vice president, supply chain, EMEA, Infor.  "Infor Demand Planning not only enables improvements in existing supply chain arrangements but also allows businesses to explore the impact of these changes in demand.  This results in a more accurate and realistic prediction of demand to help develop strategies to ensure faster service, lower cost and more efficient operations. Ultimately we provide a complete view of these demand changes, and this helps HoMedics remain agile and gain critical competitive advantage by being faster to react, and explore options to shape demand."

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