Some companies use industry buzzwords as a marketing tactic to garner attention, but should you fear these new terms? No company wants to seem outdated; by inserting these phrases into their content, it provides a refreshed tone to their messaging.
Following are some common IBP phrases:
- Service-based optimization: As great as this sounds, it is simply a new take on multi-echelon inventory optimization (MEIO). This makes the software seem applicable across different types of business, but the underlying functionalities are the same.
- Machine learning/Artificial Intelligence: One of the most talked about phrases out there, as it is applied to every tech-related topic on the market. But how easy is it to grasp, when a majority of customers (even SAP customers) can’t get univariate forecasting to work?
- Collaboration: A phrase as old as time, yet many of today’s applications are not truly collaborative nor even integrated. Plug-ins and additional modules requiring connectors are offered by most software vendors, but when put to the test, a majority increase the complexity of the task at hand.
- DDMRP (Demand-Driven Material Requirements Planning): What a mouthful! DDMRP has been around for a long time but is coming back in style. Let’s just say it did not have much success when it was first introduced and it is not deserving of much attention now.
These trends initially excite customers until questions start focusing on the real-life applications and business value. Analysts and supply chain leaders quickly realize that successful products don’t have all this fluff around them. True innovation and technology come from research and development based on feedback from customers. Updates should come only when necessary to enhance the customer’s experience with the product.
Vanguard Software’s IBP platform was developed to ensure the highest forecast accuracy while also being user-friendly. No need for complex integrations and plugins as you can customize your interface. Yes our platform does leverage many advanced technologies including machine learning, Monte Carlo simulation and prescriptive analytics; we are not a black box. We help end users leverage these techniques without being experts in them. While buzzwords may fade, Vanguard does not as we continue to provide customers with one of the best forecasting and optimization solutions on the market. Learn more about Vanguard IBP by requesting a demo here.