Harnessing Big Data to Predict Demand Across the Supply Chain
RESEARCH TRIANGLE PARK, N.C. – The automotive aftermarket is spending a lot of money to deliver on its “the right part, the right place, the right time” promise. Progress has been made, but significant opportunity remains for cost savings and margin gain.
The Automotive Aftermarket Suppliers Association (AASA) Technology Council (ATC) introduced a new “Special Report” at its Spring Meeting on March 18, “Harnessing Big Data to Predict Demand Across the Supply Chain,” focused on harnessing “Big Data” to forecast demand across the entire supply chain. AASA is the light vehicle aftermarket division of the Motor & Equipment Manufacturers Association (MEMA).
Developed with Epicor Software Corporation, “Harnessing Big Data to Predict Demand Across the Supply Chain,” examines the industry’s capability of forecasting demand at the store level. The report finds that next big step for the aftermarket is forecasting demand for the entire supply chain, which will help suppliers employ stock balancing on a macro level. It will help suppliers pull slow-moving or inactive parts and place their products on shelves where they’re most needed, employing stock balancing on a macro level.
“Forecasted demand using ‘Big Data’ will lead to leaner practices for the supply chain, such as manufacturers producing a more accurate volume of parts, and distributors and suppliers stocking the right amounts,” said Chris Gardner, AASA vice president and executive director of the ATC. “With collaboration throughout the industry, the ability to predict future demand throughout the product life cycle will be a game changer.”
The industry is well positioned to take that next step, according to Scott Thompson, vice president, automotive, retail and distribution solutions for Epicor Software Corporation. “There is now a broad-based understanding of the value of Big Data among leading suppliers and distribution organizations,” he said. “It’s our goal at Epicor to help the industry to move beyond simple analytics to predictive analytics – from the micro view to the macro view.”
“Harnessing Big Data to Predict Demand Across the Supply Chain” is available at the ATC website:www.aasatechnology.org.
The ATC attracted record attendance at its 2015 Spring Meeting, held in Charlotte, N.C., following the 2015 AASA Vision Conference. For more information about the ATC, its meetings and initiatives, visit www.aasatechnology.org or contact Chris Gardner, email@example.com.
About Epicor Software Corporation
Epicor Software Corporation is a global leader delivering inspired business software solutions to the manufacturing, distribution, retail and services industries. With over 40 years of experience serving small, midmarket and larger enterprises, Epicor has more than 20,000 customers in over 150 countries. Epicor enterprise resource planning (ERP), retail management software, supply chain management (SCM), and human capital management (HCM) enable companies to drive increased efficiency and improve profitability. With a history of innovation, industry expertise and passion for excellence, Epicor provides the single point of accountability that local, regional and global businesses demand. The Company’s headquarters are located in Austin, Texas, with offices and affiliates worldwide. For more information, visit www.epicor.com.
About the ATC
The ATC is a peer group of the Automotive Aftermarket Suppliers Association (AASA). It serves as a medium for industry interaction, education and idea exchange regarding matters of common interest to information technology (IT) and e-commerce professionals in the automotive aftermarket industry. ATC provides industry leadership and information through semi-annual conferences, committee activities, monthly newsletters and IT education.
AASA (www.aftermarketsuppliers.org) exclusively serves manufacturers of aftermarket components, tools and equipment, and related products which support 710,000 employees in the United States. AASA is a recognized industry change agent – promoting a collaborative industry environment, providing a forum to address issues and serving as a valued resource for members. AASA is the light vehicle aftermarket division of the Motor & Equipment Manufacturers Association (MEMA). “AASA, The Voice for the Automotive Aftermarket Supplier Industry”