St. Louis March 19, 2002 While Memorex is best known for perfection in storing data on its blank media products, its inventory planning process was not in tune with the fast-paced demand of today's consumer electronics industry.
To improve the accuracy of its supply chain and better meet retailers' demands, Memorex Products, the U.S. distributor of the well-known Memorex branded digital media, recently turned to Demand Solutions Forecast Management (DS FM) to support its operations worldwide.
"Although we were spending more than a week each month planning and forecasting, we were still facing fines by our retailers for missing shipment dates," said Michael Cook, director of sales planning at Memorex. "We needed a better way to analyze information and the old, manual system wasn't cutting it. DS FM will allow us to slice and report data in a number of critical ways, and will shorten our delivery cycle through more accurate planning. With the time savings alone, DS FM is already paying for itself."
DS FM is forecasting engine and data warehouse for manufacturing, distribution and retail. The software selects a formula that best addresses each item's demand pattern, according to solution provider Demand Management.
Memorex is also using Demand Solutions Feedback (DS FB) to create a collaborative environment that allows decision makers to make adjustments, create aggregate records, add notes to track assumptions and create production and/or purchase plans to meet the company's inventory and sales objectives.
"Memorex has always led the way in quality for its customers, and it was time to show that same dedication to their retail partners," said Mike Campbell, president and CEO of Demand Management. "With DS FM, Memorex will deliver their product more reliably and save their internal team significant time in the process."