How To Fix Mean Absolute Error, Part 2
Part 2: How the Ranked Probability Score reconciles statisticians with practitioners In part 1, we challenged the usual way to evaluate Mean Absolute Error by just taking the difference between the predicted mean and the observed outcome. We found that it is necessary to use…
Why Blue Yonder Was Recently Recognized for Its OMS Microservices in the 2022 Gartner® Market Guide for Retail Distributed Order Management Systems
We are very excited to announce that Blue Yonder has been recognized for the first time as a Representative Vendor in the latest Gartner® Market Guide for Retail Distributed Order Management Systems. The acceleration of omni-channel commerce in the past few years has put significant…
5 Things You May Have Missed in Supply Chain News
Welcome to our series where we give you the scoop on five things you may have missed in supply chain news. You can also catch the full rundown from our Blue Yonder Live video: 1. West Coast Port Congestion Finally Clears Up Over the past year,…
How To Fix Mean Absolute Error, Part 1
The deceiving surprises that Mean Absolute Error hides from us Executive summary Mean Absolute Error is the first choice for practitioners when it comes to evaluate their model, owing to its simple definition and its intuitive business relevance. The evaluation metric Ranked Probability Score, by…
How To Stop Your Workforce From Ghosting You
We have all seen it. You go to the mall on a weekday night, and there are a few stores closed. You walk into a restaurant with plenty of empty tables, yet there is a 30-minute wait. Operating hours of some of your favorite retailers…
Finding Focus in the Fight Against Inflation
In conjunction with this blog post, watch our on-demand webinar Finding Focus in the Fight Against Inflation. The 1970s are known for a lot more than Star Wars and pet rocks. The era is also known for supply-side economic shocks, low growth and high inflation….
Mean Absolute Percentage Error (MAPE) Has Served Its Duty and Should Now Retire
Executive summary According to Gartner (2018 Gartner Sales & Operations Planning Success Survey), the most popular evaluation metric for forecasts in Sales and Operations Planning is Mean Absolute Percentage Error (MAPE). This needs to change. Modern forecasts concern small quantities on a disaggregated level such…
3 Ways Beyoncé’s “Renaissance” Will Disrupt the Supply Chain
Before you brush this off as a puff piece written by a geriatric millennial who has loved Beyoncé for 20+ years — none of which is a lie — let me assure you that Mrs. Carter-Knowles indeed has the accolades, the power and the influence…
How the Worker Shortage Might Affect Your Summer Vacation Plans
We’ve all been hearing about the worker shortage since early in the COVID-19 pandemic, and we’ve seen it in action in our everyday lives — visiting the grocery store, the pharmacy, at school and even at our own jobs. But have you thought about how…
Forecasting Few Is Different, Part 2
This is a two-part story by Malte Tichy about dealing with sales forecasts that concern fast-moving as well as slow-moving items. Find Part 1 here. How precise can a sales forecast become? The mechanism of fluctuation cancellation ensures that granular low-scale-forecasts are more imprecise, noisy…