PeopleSoft Inc., Pleasanton, Calif., today said it has released PeopleSoft Supply Chain Planning 8.8, part of its Performance-Driven Manufacturing software suite. Three new software features are included: Demand Planning, Inventory Policy Planning, and Supply Planning.
The software is built on a "pure Internet architecture" with browser-based access and uses a centralized data warehouse that combines planning, performance management, and operational systems. The company said that users receive real-time collaboration and analysis to improve forecast accuracy, quickly adjust plans to reflect changes in the market, and ensure that business analysis and financial reports are based on the most up-to-date information.
The shared platform assists with planning because managers are alerted quickly when orders deviate from the forecast, according to PeopleSoft As a result, plan accuracy is increased, planning cycles are streamlined, and operations more accurately reflect actual demand and supply.
The Demand Planning application is designed to allow companies to create demand forecasts based on statistical analysis of demand history, causal factors such as events and promotions, and input from both employees and trading partners. Demand Planning 8.8 features 14 new advanced forecasting algorithms, enabling comparison of forecasts to actual sales results to continually improve plan accuracy.
The Inventory Policy Planning application allows companies to strategically manage inventory to reduce carrying costs, labor costs, and inventory write-offs, according to PeopleSoft. New analytics enable planners to create "what-if" scenarios to compare current inventory policies with alternative policies, project the cost of different inventory strategies, and measure impact across the supply chain.
The Supply Planning application is an advanced planning and scheduling tool that helps ensure purchases and production capacity are aligned to produce the products in highest demand. Tightly integration with PeopleSoft's Demand Planning application, the planning software enables planners to create smart schedules that are tied to forecasted events, according to the company.