Forgot password?
|
|
|
|
Home
We were unable to sign you in.
Please verify your user name and password and try again. If you do not have a TEC account, register now.


"Case Study: Peerless Pump"

If you receive errors when attempting to view this white paper, please install the latest version of Adobe Reader.
Demand Solutions

"Demand Solutions Forecast Management opens up a whole new world for supply chain management - better demand planning, improved inventory planning and, ultimately, increased efficiency and profits."
Source : Demand Solutions

Resources Related to Case Study: Peerless Pump:

Case Study: Peerless Pump

Forecast Accuracy is also known as : Forecasting, Calculating Forecast Accuracy, Demand Forecast Accuracy, Measure Forecast Accuracy, Review Forecasting Accuracy, Forecast Accuracy Improvement, Forecasting Accuracy Methods,
Increase Forecast Accuracy, Sample Forecast Accuracy, Equal Forecast Accuracy, Tests Forecast Accuracy, Analysts Forecast Accuracy, Assessing Forecast Accuracy, Modeling Forecast Accuracy, Uncertain Forecast Accuracy, Forecast Accuracy Results, about Forecast Accuracy, Revenue Forecast Accuracy, Planning Forecast Accuracy, Track Forecast Accuracy, Record Forecast Accuracy, Forecast Accuracy Data, Early Forecasting Accuracy, Search Forecast Accuracy, Forecasting Accuracy Assessment, Forecast Accuracy Statistics, Forecasting Accuracy Assortments, Documents Forecast Accuracy, Statistical Forecasting, Forecast Accuracy Calculations, Alternate Forecast Measures, Supply Chain Forecasting, Estimation, Prediction, Accuracy Method, Business Forecasting, Econometric Forecasting, Economic Forecasting, Forecasting Adjustment.

Peerless Pump has been designing, engineering and manufacturing pumps for more than 80 years. Although its first pumps were used to irrigate orange groves in California, its pumps today are used for a wide spectrum of applications across the globe. Some of the tallest skyscrapers in the world rely on Peerless Pump for fire protection including the Taipei 101 in Taiwan (currently the tallest at 1,667 feet), the Sears Tower in Chicago and the Empire State Building in New York City. In addition to fire protection, its pumps serve many other industries including agriculture, process manufacturing, and the massive pumps that transport safe drinking water to our cities, to name a few. By increasing forecast accuracy through the use of Demand Solutions, the company has nearly doubled its sales over the past four years while keeping inventory levels constant – allowing Peerless to pump up its profits.

Peerless Pump manufactures most of its products at its headquarters in Indianapolis, Indiana and also has operations in Alabama, Texas and California. With each location specializing in different pumps, the company can offer a wide range of products to serve its diverse group of customers. There is no finished goods inventory; Each pump is made-to-order. To increase production and assembly efficiency, Peerless Pump’s inventory consists only of the most common components used in pump production. Prior to Demand Solutions, the company based component stock levels on historical data as it did not have the ability to accurately forecast customer demand. The lack of visibility led to a distorted demand picture that adversely affected profits.

The Turning Point

Since implementation in late 2005, Demand Solutions has unclogged the company’s profit pump. Greg Brown, Director of Sales and Operations Planning, remembers feeling slightly skeptical, yet excited when Demand Solutions along with the company’s sales managers mutually predicted a drastic increase in customer demand. Based on this forecast, the company decided to add a global supplier and to make other supply chain improvements to support the expected increase in demand.

The company uses two methods to determine customer demand: the Demand Solutions’ forecast and the sales managers’ forecast. Having the dual stream of information allows Brown to identify the possible discrepancies between the information and make better forecasting decisions. He determines the forecast accuracy of the individual methods by comparing their forecasts to actual sales – coincidently, both Demand Solutions and the sales managers have a 14 percent mean absolute percent error.

“With the same absolute forecast accuracy percentage error, we knew that the sales managers’ and Demand Solutions’ growth projections were either 100 percent right or 100 percent wrong,” says Brown with a laugh.

To Brown’s relief, the projections were accurate and Peerless Pump’s timely preparations proved to be a worthy investment as it helped the company realize its growth ambitions. “Demand Solutions has helped us almost double our business by substantially increasing our forecast accuracy and planning our inventory,” says Brown. “We have not had to increase inventory levels to support the increased business; therefore, our inventory turns have increased from six to nine on this key product line.”

Peer-fect Process

Peerless Pump uses the forecast from Demand Solutions as a basis for its discussions with its sales managers. Because the company previously could not accurately forecast customer demand, the sales force did not have an opportunity to share its valuable insights. Andrew Warrington, Vice President of Business Development, sees the firsthand results of including market intelligence into the forecast and agrees completely with Demand Solutions’ belief that people are smarter than software.

“From a sales perspective, Demand Solutions forecasts what is meaningful to us,” says Warrington. “I don’t care how complex the forecasting equations are, if they do not include human instinct and the sales forces’ knowledge, the forecast will not be right. Demand Solutions combines statistics with reality to give us a clear view of customer demand.”

Currently, Peerless Pump is in the process of replacing its old ERP system with SAP and is pleased that Demand Solutions is compatible with any ERP system because of its import/export functionality. Brown uses this functionality monthly as he exports the finalized global forecast to the company’s MRP system to drive the master production and procurement schedules.

Easy Flowing

Along with the financial benefits Peerless Pump has experienced with Demand Solutions, the planning tool has also facilitated a deeper level of collaboration within the company. The software’s flexibility and ease of use have increased the company‘s planning and decision-making efficiency.

“When management develops a new means of how they want to view a forecast report, I don’t need a programmer to reconfigure the forecast level in Demand Solutions,” says Brown. “Within a few minutes, I can create new aggregate levels myself and present the new view.”

“Demand Solutions has helped us almost double our business by substantially increasing our forecast accuracy and planning our inventory,” says Brown. “We have not had to increase inventory levels to support the increased business; therefore, our inventory turns have increased from six to nine on this key product line.”

Peerless Pump’s management also likes Demand Solutions because of the charts and graphs it offers. In the past, Brown would have to print several reports and charts to reference during meetings. Now he uses the actual Demand Solutions program in real time during teleconferences through GoToMeetings, an online service similar to Webex, which gives him the ability to display his screen to everyone in the meeting. The planning tool is intuitive and people who have never seen it can understand what is on the screen, says Brown. Being able to quickly and easily see the forecasts for each market segment and physical territories has encouraged more informed discussions about realistic opportunities and risks.

Did you know…

Peerless Pumps are used in many well known structures including:

  • Taipei 101 (Taiwan)
  • Sears Tower (Chicago)
  • Jin Mao Building (Shanghai)
  • Empire State Building (NYC)
  • Aon Centre (Chicago)
  • Bank of America Tower (NYC)
  • CN Tower (Toronto)
  • Wynn Hotel (Las Vegas)
  • Trump International Hotel (Chicago)
  • Gateway Arch (St. Louis)
  • Ferrari (Italy)
  • Panama Canal
  • Oak Ridge National Lab (Tennessee)
  • RCA Dome (Indianapolis Colts stadium)
  • Conseco Fieldhouse (Indiana Pacers arena)
  • Paul Brown Stadium (Cincinnati Bengals stadium)
  • Lucas Oil Stadium (new Indianapolis Colts stadium)
  • Several cruise ships

Its pumps range in size:

  • Smallest:
    • 4-inch diameter
    • 20 gallons per minute
  • Largest:
    • 72-inch diameter
    • 110,000 gallons per minute
 
Searches related to Case Study: Peerless Pump:
Forecast Accuracy | Forecasting | Calculating Forecast Accuracy | Demand Forecast Accuracy | Measure Forecast Accuracy | Review Forecasting Accuracy | Forecast Accuracy Improvement | Forecasting Accuracy Methods | Increase Forecast Accuracy | Sample Forecast Accuracy | Equal Forecast Accuracy | Tests Forecast Accuracy | Analysts Forecast Accuracy | Assessing Forecast Accuracy | Modeling Forecast Accuracy | Uncertain Forecast Accuracy | Forecast Accuracy Results | about Forecast Accuracy | Revenue Forecast Accuracy | Planning Forecast Accuracy | Track Forecast Accuracy | Record Forecast Accuracy | Forecast Accuracy Data | Early Forecasting Accuracy |
Search Forecast Accuracy | Forecasting Accuracy Assessment | Forecast Accuracy Statistics | Forecasting Accuracy Assortments | Documents Forecast Accuracy | Statistical Forecasting | Forecast Accuracy Calculations | Alternate Forecast Measures | Supply Chain Forecasting | Estimation | Prediction | Accuracy Method | Business Forecasting | Econometric Forecasting | Economic Forecasting | Forecasting Adjustment | Forecasting Analysis | Forecasting Examples | Forecasting Growth | Forecasting Methodology | Forecasting Methods | Forecasting Modeling | Forecasting Process | Forecasting Software | Forecasting Techniques | Forecasting Tools | Forecasting Variables | Industry Forecasting | Inventory Forecasting | Load Forecasting | Market Forecasting | Marketing Forecasting | Prediction Accuracy | Production Forecasting | Regression Forecasting | Revenue Forecasting | Sales Forecasting | Seasonal Forecasting | Simple Forecasting | Statistics Forecasting | Supply Forecasting | Trend Forecasting | Weather Forecasting | SCM Forecast Accuracy | SCM Forecasting | SCM Calculating Forecast Accuracy | SCM Demand Forecast Accuracy | SCM Measure Forecast Accuracy | SCM Review Forecasting Accuracy | SCM Forecast Accuracy Improvement | SCM Forecasting Accuracy Methods | SCM Increase Forecast Accuracy | SCM Sample Forecast Accuracy | SCM Equal Forecast Accuracy | SCM Tests Forecast Accuracy | SCM Analysts Forecast Accuracy | SCM Assessing Forecast Accuracy | SCM Modeling Forecast Accuracy | SCM Uncertain Forecast Accuracy | SCM Forecast Accuracy Results | SCM about Forecast Accuracy | SCM Revenue Forecast Accuracy | SCM Planning Forecast Accuracy | SCM Track Forecast Accuracy | SCM Record Forecast Accuracy | SCM Forecast Accuracy Data | SCM Early Forecasting Accuracy | SCM Search Forecast Accuracy | SCM Forecasting Accuracy Assessment | SCM Forecast Accuracy Statistics | SCM Forecasting Accuracy Assortments | SCM Documents Forecast Accuracy | SCM Statistical Forecasting | SCM Forecast Accuracy Calculations | SCM Alternate Forecast Measures | SCM Supply Chain Forecasting | SCM Estimation | SCM Prediction | SCM Accuracy Method | SCM Business Forecasting | SCM Econometric Forecasting | SCM Economic Forecasting | SCM Forecasting Adjustment | SCM Forecasting Analysis | SCM Forecasting Examples | SCM Forecasting Growth | SCM Forecasting Methodology | SCM Forecasting Methods | SCM Forecasting Modeling | SCM Forecasting Process | SCM Forecasting Software | SCM Forecasting Techniques | SCM Forecasting Tools | SCM Forecasting Variables | SCM Industry Forecasting | SCM Inventory Forecasting | SCM Load Forecasting | SCM Market Forecasting | SCM Marketing Forecasting | SCM Prediction Accuracy | SCM Production Forecasting | SCM Regression Forecasting | SCM Revenue Forecasting | SCM Sales Forecasting | SCM Seasonal Forecasting | SCM Simple Forecasting | SCM Statistics Forecasting | SCM Supply Forecasting | SCM Trend Forecasting | SCM Weather Forecasting | ERP Forecast Accuracy | ERP Forecasting | ERP Calculating Forecast Accuracy | ERP Demand Forecast Accuracy | ERP Measure Forecast Accuracy | ERP Review Forecasting Accuracy | ERP Forecast Accuracy Improvement | ERP Forecasting Accuracy Methods | ERP Increase Forecast Accuracy | ERP Sample Forecast Accuracy | ERP Equal Forecast Accuracy | ERP Tests Forecast Accuracy | ERP Analysts Forecast Accuracy | ERP Assessing Forecast Accuracy | ERP Modeling Forecast Accuracy | ERP Uncertain Forecast Accuracy | ERP Forecast Accuracy Results | ERP about Forecast Accuracy | ERP Revenue Forecast Accuracy | ERP Planning Forecast Accuracy | ERP Track Forecast Accuracy | ERP Record Forecast Accuracy | ERP Forecast Accuracy Data | ERP Early Forecasting Accuracy | ERP Search Forecast Accuracy | ERP Forecasting Accuracy Assessment | ERP Forecast Accuracy Statistics | ERP Forecasting Accuracy Assortments | ERP Documents Forecast Accuracy | ERP Statistical Forecasting | ERP Forecast Accuracy Calculations | ERP Alternate Forecast Measures | ERP Supply Chain Forecasting | ERP Estimation | ERP Prediction | ERP Accuracy Method | ERP Business Forecasting | ERP Econometric Forecasting | ERP Economic Forecasting | ERP Forecasting Adjustment | ERP Forecasting Analysis | ERP Forecasting Examples | ERP Forecasting Growth | ERP Forecasting Methodology | ERP Forecasting Methods | ERP Forecasting Modeling | ERP Forecasting Process | ERP Forecasting Software | ERP Forecasting Techniques | ERP Forecasting Tools | ERP Forecasting Variables | ERP Industry Forecasting | ERP Inventory Forecasting | ERP Load Forecasting | ERP Market Forecasting | ERP Marketing Forecasting | ERP Prediction Accuracy | ERP Production Forecasting | ERP Regression Forecasting | ERP Revenue Forecasting | ERP Sales Forecasting | ERP Seasonal Forecasting | ERP Simple Forecasting | ERP Statistics Forecasting | ERP Supply Forecasting | ERP Trend Forecasting | ERP Weather Forecasting | MRP Forecast Accuracy | MRP Forecasting | MRP Calculating Forecast Accuracy | MRP Demand Forecast Accuracy | MRP Measure Forecast Accuracy | MRP Review Forecasting Accuracy | MRP Forecast Accuracy Improvement | MRP Forecasting Accuracy Methods | MRP Increase Forecast Accuracy | MRP Sample Forecast Accuracy | MRP Equal Forecast Accuracy | MRP Tests Forecast Accuracy | MRP Analysts Forecast Accuracy | MRP Assessing Forecast Accuracy | MRP Modeling Forecast Accuracy | MRP Uncertain Forecast Accuracy | MRP Forecast Accuracy Results | MRP about Forecast Accuracy | MRP Revenue Forecast Accuracy | MRP Planning Forecast Accuracy | MRP Track Forecast Accuracy | MRP Record Forecast Accuracy | MRP Forecast Accuracy Data | MRP Early Forecasting Accuracy | MRP Search Forecast Accuracy | MRP Forecasting Accuracy Assessment | MRP Forecast Accuracy Statistics | MRP Forecasting Accuracy Assortments | MRP Documents Forecast Accuracy | MRP Statistical Forecasting | MRP Forecast Accuracy Calculations | MRP Alternate Forecast Measures | MRP Supply Chain Forecasting | MRP Estimation | MRP Prediction | MRP Accuracy Method | MRP Business Forecasting | MRP Econometric Forecasting | MRP Economic Forecasting | MRP Forecasting Adjustment | MRP Forecasting Analysis | MRP Forecasting Examples | MRP Forecasting Growth | MRP Forecasting Methodology | MRP Forecasting Methods | MRP Forecasting Modeling | MRP Forecasting Process | MRP Forecasting Software | MRP Forecasting Techniques | MRP Forecasting Tools | MRP Forecasting Variables | MRP Industry Forecasting | MRP Inventory Forecasting | MRP Load Forecasting | MRP Market Forecasting | MRP Marketing Forecasting | MRP Prediction Accuracy | MRP Production Forecasting | MRP Regression Forecasting | MRP Revenue Forecasting | MRP Sales Forecasting | MRP Seasonal Forecasting | MRP Simple Forecasting | MRP Statistics Forecasting | MRP Supply Forecasting | MRP Trend Forecasting | MRP Weather Forecasting | Forecast Accuracy SCM | Forecasting SCM | Calculating Forecast Accuracy SCM | Demand Forecast Accuracy SCM | Measure Forecast Accuracy SCM | Review Forecasting Accuracy SCM | Forecast Accuracy Improvement SCM | Forecasting Accuracy Methods SCM | Increase Forecast Accuracy SCM | Sample Forecast Accuracy SCM | Equal Forecast Accuracy SCM | Tests Forecast Accuracy SCM | Analysts Forecast Accuracy SCM | Assessing Forecast Accuracy SCM | Modeling Forecast Accuracy SCM | Uncertain Forecast Accuracy SCM | Forecast Accuracy Results SCM | about Forecast Accuracy SCM | Revenue Forecast Accuracy SCM | Planning Forecast Accuracy SCM | Track Forecast Accuracy SCM | Record Forecast Accuracy SCM | Forecast Accuracy Data SCM | Early Forecasting Accuracy SCM | Search Forecast Accuracy SCM | Forecasting Accuracy Assessment SCM | Forecast Accuracy Statistics SCM | Forecasting Accuracy Assortments SCM | Documents Forecast Accuracy SCM | Statistical Forecasting SCM | Forecast Accuracy Calculations SCM | Alternate Forecast Measures SCM | Supply Chain Forecasting SCM | Estimation SCM | Prediction SCM | Accuracy Method SCM | Business Forecasting SCM | Econometric Forecasting SCM | Economic Forecasting SCM | Forecasting Adjustment SCM | Forecasting Analysis SCM | Forecasting Examples SCM | Forecasting Growth SCM | Forecasting Methodology SCM | Forecasting Methods SCM | Forecasting Modeling SCM | Forecasting Process SCM | Forecasting Software SCM | Forecasting Techniques SCM | Forecasting Tools SCM | Forecasting Variables SCM | Industry Forecasting SCM | Inventory Forecasting SCM | Load Forecasting SCM | Market Forecasting SCM | Marketing Forecasting SCM | Prediction Accuracy SCM | Production Forecasting SCM | Regression Forecasting SCM | Revenue Forecasting SCM | Sales Forecasting SCM | Seasonal Forecasting SCM | Simple Forecasting SCM | Statistics Forecasting SCM | Supply Forecasting SCM | Trend Forecasting SCM | Weather Forecasting SCM | Forecast Accuracy ERP | Forecasting ERP | Calculating Forecast Accuracy ERP | Demand Forecast Accuracy ERP | Measure Forecast Accuracy ERP | Review Forecasting Accuracy ERP | Forecast Accuracy Improvement ERP | Forecasting Accuracy Methods ERP | Increase Forecast Accuracy ERP | Sample Forecast Accuracy ERP | Equal Forecast Accuracy ERP | Tests Forecast Accuracy ERP | Analysts Forecast Accuracy ERP | Assessing Forecast Accuracy ERP | Modeling Forecast Accuracy ERP | Uncertain Forecast Accuracy ERP | Forecast Accuracy Results ERP | about Forecast Accuracy ERP | Revenue Forecast Accuracy ERP | Planning Forecast Accuracy ERP | Track Forecast Accuracy ERP | Record Forecast Accuracy ERP | Forecast Accuracy Data ERP | Early Forecasting Accuracy ERP | Search Forecast Accuracy ERP | Forecasting Accuracy Assessment ERP | Forecast Accuracy Statistics ERP | Forecasting Accuracy Assortments ERP | Documents Forecast Accuracy ERP | Statistical Forecasting ERP | Forecast Accuracy Calculations ERP | Alternate Forecast Measures ERP | Supply Chain Forecasting ERP | Estimation ERP | Prediction ERP | Accuracy Method ERP | Business Forecasting ERP | Econometric Forecasting ERP | Economic Forecasting ERP | Forecasting Adjustment ERP | Forecasting Analysis ERP | Forecasting Examples ERP | Forecasting Growth ERP | Forecasting Methodology ERP | Forecasting Methods ERP | Forecasting Modeling ERP | Forecasting Process ERP | Forecasting Software ERP | Forecasting Techniques ERP | Forecasting Tools ERP | Forecasting Variables ERP | Industry Forecasting ERP | Inventory Forecasting ERP | Load Forecasting ERP | Market Forecasting ERP | Marketing Forecasting ERP | Prediction Accuracy ERP | Production Forecasting ERP | Regression Forecasting ERP | Revenue Forecasting ERP | Sales Forecasting ERP | Seasonal Forecasting ERP | Simple Forecasting ERP | Statistics Forecasting ERP | Supply Forecasting ERP | Trend Forecasting ERP | Weather Forecasting ERP |
Use this index to search for white papers related to commonly used search terms A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Others 
Recent Searches
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Others
A: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26
B: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19
D: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19
E: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22
F: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27
G: 1 2 3 4 5 6 7
H: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
I: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
J: 1 2 3 4 5
K: 1 2 3 4
L: 1 2 3 4 5 6 7 8 9 10 11 12 13 14
M: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
N: 1 2 3 4 5 6 7 8
O: 1 2 3 4 5 6 7 8 9 10 11 12 13 14
P: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19
Q: 1 2
R: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17
T: 1 2 3 4 5 6 7 8 9 10 11 12 13
U: 1 2 3
V: 1 2 3 4
W: 1 2 3 4 5 6 7 8 9 10 11
X: 1
Y: 1
Z: 1
Others: 1 2 3


©2013 Technology Evaluation Centers Inc. All rights reserved. Search powered by Google