Our intelligent algorithm will not only improve your forecast accuracy by 20%, ForecastPlanner™ also exceeds in providing an innovative promotion planning toolbox that will maximize the efficiency for your promotion, holiday and exception planning. Using ForecastPlanner™ enables you to keep an ideal stock level, resulting in dramatically reduced out-of-stock and overstock rates. Accurate and efficient forecasting is the key to competitiveness and is a primary high-level metric for the organization's health and wealth.
The leading, most accurate
forecasting solution for Demand
Planning and Business Intelligence.
What is ForecastPlanner™?
ForecastPlanner™ is a cloud-based forecasting and inventory optimization application containing a highly advanced automatic forecasting, inventory and business analysis optimizer and full-cycle demand planning solution.
The highly automatic goal oriented system provides the uppermost forecasting accuracy while requiring no human intervention in decision making.
ForecastPlanner™ provides immediate results, quick return on investment and low cost of ownership as well as an easy integration and minimal manual intervention.
ForecastPlanner™ works either as a standalone solution or can be deployed to optimize the operations of other Demand Planning systems.
What is unique?
Noise Reduction
We developed an innovative noise reduction methodology for different scenarios, looking at dates, locally and globally and at different time buckets trying to find a balance between cleaning of peaks and events without losing trend and seasonality from the data.
Internal Simulation
ForecastPlanner™ has the ability to look at past results and precisely adapt the system to it. The system uses internal simulations to run many different scenarios of planning and chooses the most appropriate one.
Optimization
Our system re-optimizes its compatibility with the forecasting model every time it does a forecast, assuring the most accurate forecast over time.
The main challenges regarding the supply chain management are evolving from inadequate planning tools which are incapable of handling exceptions or floating seasonal events. The users are expected to understand and explore the solutions by themselves which results in a naïve operation of the forecasting tools and sub-optimal results. Apart from that, those immature tools fail to take specific business objectives into consideration and are inept to pay attention to cannibalization and life cycles. Planners are expected to control, judge and alter automatic forecasting by relying merely on their experience. Inaccurate forecasting forces planners to invest an unnecessary amount of time sorting stable items from those that require human attention.
The quality of the forecast has a direct impact on all aspects of business operations, such as the supply, - and distribution chains, ‘hands on’ financial control and inventory management.
What are the
Challenges?
What are the
Benefits?
The deployment of ForecastPlanner™ can improve the forecast accuracy by at least 20%. An improvement of accuracy puts budget planning on firm grounds, creates better planning processes leading to Just In Time (JIT) type model, improves manufacturing and, in turn, procurement of raw material.
Forecastplanner™ detects weaknesses and pinpoints the places where decisions need to be made such as investing in marketing and cutting product lines. That allows you to fulfill the demand generated by clients of the unit without being dependent on the supplier of the unit.
Improvement in forecast accuracy does not only reduce stock-out rates, it moreover entails lower stock requirements while further being able to maintain a high level of service and producing less waste. Lower stock levels reduce the Inventory Carrying Cost and lower stock-out rates reduce the penalty of lost Sales.
BENEFITS
CHALLENGES
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Inaccurate forecasts
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Handling exceptions and seasonality
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Complex mode of operation
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Considering business objectives
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Cannibalization and life cycles
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Improved planning is leading to JIT
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Suspicious item detection
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Expensive implementation
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Manual interventions are required
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Misjudgment causing a mass of errors
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20% improved forecasting accuracy
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We constantly operate in background
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User-friendly customization
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Improved Budget Planning and Marketing
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Pinpoints places that need extra attention
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Reduces the need for manual interventions
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Exception and seasonality handling
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Accurate decision-making recommendations
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Reduces stock-our rates
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Entails lower stock requirements
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Improved manufacturing and procurement of raw materials
THE SOLUTION
20%
improved forecast accuracy
Business Forecasting
An important field in forecasting is business forecasting whereby future economic and business scenarios are analyzed. Business forecasting is a combination of judgmental, casual and time series forecasting methods. Risk and uncertainty are central to business forecasting and are accompanying forecasting as tools for evaluating the probability of future scenarios and for decision making in inventory planning, capacity expansion, investments and risk analysis. Business forecasting is used in finance, budget planning, CRM, HR, risk analysis, Supply Chain Management and Execution (SCM/SCE).
Standard forecasting tools only provide the core algorithmic capabilities. It is expected from the users to understand and explore the solutions by themselves which results in a naïve operation of the forecasting tools and sub-optimal results.
Demand Planning
The discipline of Demand Planning embraces statistical forecasting, promotional management, lifecycle adjustments and consensus processes. In Demand Planning, the risk and uncertainties are used inside economical models to drive inventory planning and purchasing. Worldwide, over 38% of producers complain that one of their main problems is inaccurate Demand Planning. Poor planning has a negative effect on the ability to deliver, on inventory management, on purchasing, and on capacity utilization.
Today, only the largest corporations develop a DP practice involving finance, marketing, and supply chain. In too many companies, even those that officially are using an advance DP system, Excel™ is still the main planning tool; either due to technical problems with the DP system or due to the limited planner knowledge and expertise in the DP technology.
revolution in
forecast and
demand planning
THE MANAGEMENT
Shlomo Hasdai
CEO
Shlomo joined Ogentech in 2005 as its CEO. In 1991, Shlomo founded OFEK-tech and developed a best-of-breed "Distribution Center Management System" – DC-Master which was successfully deployed at key multi-national customers such as IVAX, Nestle, Colgate Palmolive, Philip Morris, Gillette, Exel logistics, with the support of leading integrators like Accenture, EDS, and Siemens. In 1998, OFEK-tech was purchased by SAP AG and Shlomo remained as managing director of the company.
Shlomo earned an electrical engineering diploma from the Israeli Institute of Technology (Technion), in 1980 and an MBA from Tel Aviv University Business School in 1987.
Ron Levkovitz
CTO
Dr. Ron Levkovitz founded Ogentech in 2005 and serves as its Chief Technology Officer. Ron has accumulated vast expertise in Supply Chain Management, Forecasting, Logistics, Mathematical Optimization and Computing. Prior to Ogentech Ron has served as the manager of the Israeli localization center of HP , as a leading technical consultant to Sapiens UK, as the R&D manager of Ultramind Ltd., and as a research fellow at the Technion. In 1997 he co-founded SupplyScience Ltd. a developer of automated retail replenishment solutions, which was sold to Retalix Ltd in 2003. Among the many developments by Ron are special methods for forecasting and replenishment of products with very short shelf life, mathematical methods for promotions and events evaluation and replication, algorithms for data filtering and for forecasting demand in highly noisy environment. Ron has earned his B.Sc. degree in computer science and mathematics from Tel Aviv University, his Ph.D. in applied mathematics and operations research from Brunel University, London UK, and his Post Doctorate from Technion Israel. He is the author of dozens of articles and a few patents.
Gad Entin
VP R&D
Gadi joined Ogentech during 2006 and is heading the development of ForecastPlanner™. Gadi’s experience started in the years 1989-1994 as system analyst and programmer of large IBM Mainframe based information system in the Israel Defense Forces (IDF) Intelligence unit. Gadi is a cofounder of Mercado Software (acquired by Omniture, 2008) as was their product technology director. Gadi specialized in e-commerce search and navigation and was responsible for key element of the technology including storage and indexing engines. In addition, Gadi started the US based professional services organization and was involved in key sales to strategic customers such as Caterpillar, GE Power systems, Target, JCPenney, Macy’s & Bloomingdales. In 2004, Gadi joined Certagon, specializing in distributed application performance monitoring as CTO. Gadi holds a B.Sc. degree in computer science and mathematics from Tel-Aviv University, graduating in 1999.
Noam London
Director of Professional Services
Noam began his career as a retail market analyst for ACNielsen. During the years 1999 to 2000, Noam was responsible for the DSS (Decision Support System) at ACNielsen. For the following couple of years, Noam worked as an SCM consultant providing services in the retail IT area. Noam had a leading role at Storenext Israel in charge of implementation of DAX, an ordering and demand management software. Noam holds a B.A. of Economics from Ben-Gurion University, graduating in 1997.
THE
COMPANY
Ogentech is an independent software company specializing in the creation, management and optimization of business forecasting and inventory solutions. Furthermore, our ForecastPlanner™ Business Intelligence Profile provides full control and management of the entire process: ROI analysis, KPIs follow up, problems identification and exception detection for managers and for planners. We provide solutions to companies with internal forecasting and supply chain systems as well as companies deploying SAP (SCM, MRP, IBP™, APO™, F&R), JDA Manugistics™, Oracle Demantra™ and others optimization and SCM management applications. Ogentech developed a clear methodology of how to deploy, use and benefit from automatic forecasting and replenishment solutions thus ensuring the continuous improvement of the business goals. Our unique offerings, experience, the solution scalability and the ease of integration allow us to cooperate with both leading integrators and multi-national corporations. Ogentech has gained an international acclaim and is a “special expertise partner” of SAP.
Stay on top of your operations and make the most of your data
improved forecast accuracy
out-of-stock rate
reductions
80%
