ToolsGroup Releases New Products For Inventory Optimization, POS Demand Sensing And Demand Collaboration
New Products Announced at North American User Forum Which Also Featured User Presentations by Boise and Lennox Industries
Boston, MA--(Marketwire) - ToolsGroup, a global provider of demand-driven inventory optimization and supply chain planning (SCP) solutions announced three new products at their recent North American User Forum held in Boston, MA. The products are POS Demand Sensing, Demand Collaboration Hub, and the new 7.0 Release of SO99+, the company's flagship inventory optimization and SCP platform.
SO99+ 7.0 represents the evolution of SO99+ to a multi-enterprise platform. It includes a new user interface, a central dashboard for gauging the network's state of health, and Predictive KPIs for flagging and prioritizing impending supply chain problems. Rather than just analyzing past performance, these innovative new Predictive KPIs project performance forward, allowing companies to proactively anticipate and prevent future problems.
SO99+ 7.0 also provides an end-to-end modeling platform that is especially helpful for correctly handling lumpy demand and "long tail" inventory. It integrally models the probabilistic (or stochastic) nature of the supply chain across all SCP functions, from demand forecasting and planning to inventory optimization and replenishment planning.
The new POS Demand Sensing is a natural extension of ToolsGroup's Vendor Demand Sensing product. It extends demand sensing to VMI locations and even further to the retail shelf. It translates POS demand and retailer status into a time-phased demand signal for each SKU-Location in the multi-echelon network. By incorporating the retailer into the demand sensing process, it generates more reliable and accurate vendor forecasts. ToolsGroup's existing Vendor Demand Sensing product includes capabilities for bias monitoring, real-time forecasting, and advanced forecast consumption logic.
The new Demand Collaboration Hub offers a data-intensive platform for comparing and evaluating the relative accuracy of multiple demand forecast data streams. This approach allows the best forecast sources to gain greater weight in the demand planning process, which quickly improves forecast accuracy and facilitates a forecast-driven automated replenishment process.
ToolsGroup's North American User Forum, held on February 12 in Boston, MA, was attended by more than twenty US-based user companies from industries such as consumer goods, electronics, automotive, paper products and transportation. It included user presentations by Boise and Lennox Industries. This new North American user event complements ToolsGroup's annual User Forums in other regions of the world.
"We are very pleased that our North American base has grown to the point of enabling a dedicated North American user event," said Joseph Shamir, CEO of ToolsGroup. "It's exciting to see our highly qualified customers and partners assembled together to see SO99+ evolving to support their business needs."
About ToolsGroup
ToolsGroup is an innovation partner for companies who want to achieve outstanding customer-service levels with less global inventory. Using our demand-driven inventory optimization solutions, our customers improve daily forecast accuracy and correctly set safety stocks to achieve up to 99+ percent customer-service levels while significantly cutting inventory. ToolsGroup has more than 180 customers in 31 countries worldwide. For more information on ToolsGroup and its solutions, please visit www.ToolsGroup.com.
SOURCE: ToolsGroup