Interfacing Promax PX with ERP systems
Interfacing Promax PX with ERP system
Fundamental to the implementation of Promax PX is establishing communication of essential data between its database and that of the other systems in the business environment. The efficient transfer of “back office” data makes the Promax PX a seamless part of the whole ERP system. Developed within the Microsoft development environment Promax PX relies upon the technology of Microsoft Windows, Microsoft Office programs and Microsoft SQL Server 2005. Master file data on products, customers, general ledger, trading terms and pricing can be exchanged between Promax PX and various ERPs using a range of industry standard document formats as well as simple text file transfers. Promax PX has the ability to import and export data using but not limited to stored procedures, XML, FTP & Flat file transfer.
Read more about “Interfacing Promax PX with ERP systems” by downloading the complete whitepaper
Activity Based Forecasting with Promax PX
Why is forecasting accuracy important?
Making a prediction about the future is easy. Making an accurate prediction about the future is very difficult and complex.
Activity Based Forecasting with Promax PX
A significant proportion of the average person’s day is spent attempting to predict the consequences or outcome of specific actions. In the area of trade promotions this is particularly challenging as an Account Manager has to decide or determine the effect of spending trade funds on a choice of activities. The soundness of that decision is influenced by the confidence in the tools available to enable him to predict the outcome of any scenario he may envisage. If these predictions are inaccurate then problems occur with the supply chain, too much or too little inventory, over or under accruing trade funds could result in missed opportunities or an over commitment to promotions, depending on the bias of error.
Assessing the return on investment (ROI) of a promotion is very significantly influenced by the prediction of the uplift from baseline sales. If this prediction is highly inaccurate then our perception around the merits of running the promotion could be flawed. To understand how confident we can be about our predictions we need to measure the accuracy of our forecasts. This accuracy can be interpreted into a measure of confidence. The more accurate, the more confident.
Measures of forecast accuracy
There are many measures to forecast accuracy. One of the most common is Mean Absolute Percentage Error (MAPE) which technically is a measurement of error not accuracy; the lower the MAPE the more accurate the prediction. It is a measure of error in a fitted time series value in statistics, specifically trending and is defined by the formula……
Read more about “Activity Based Forecasting with Promax PX” by downloading the complete whitepaper
Kimberly-Clark Corporation selects Promax as its North America Trade Promotion Management and Optimization solution provider
Kimberly-Clark and Promax partnership is expected to provide fully integrated predictive analytics with TPM
ATLANTA and SYDNEY – Promax Applications Group, a world-leading specialist in trade promotions planning, management and optimization solutions, today announced that Kimberly-Clark Corporation has selected Promax PX as its North America Trade Promotion Management (TPM) and Optimization (TPO) solution provider.
Kimberly-Clark, manufacturer of some of the world’s most recognized consumer brands sold in more than 150 countries, has embraced leading edge promotion practices for decades. In selecting Promax, the company seeks to further extend that leadership into the area of predictive analytics.
Along with predictive analytics, implementation of the Promax PX® solution is expected to improve forecast accuracy, reduce inventory and out of stocks, and improve trade promotion return on investment (ROI). Complete integration of predictive analytics through trade promotion execution and sales/volume planning also promises to reduce administrative workload and unresolved deductions.
“At Kimberly-Clark we continually seek to improve how we reach consumers and partner with our customers across all our brand categories,” said Don Quigley, President of North America Customer Development for Kimberly-Clark Corporation. “Through our partnership with Promax we expect to fully integrate predictive analytics with trade promotion management to drive efficiencies and effectiveness across our sales process.”
Don Nicol, CEO of Promax, added, “We are delighted and proud that Kimberly-Clark has chosen Promax as its partner for TPO and TPM. Promax is unique in that we view TPM and TPO as a single, functional entity. Promax delivers an intuitive, integrated platform that meets TPM and TPO needs in the one solution. We are confident that Kimberly-Clark will realize additional profit and sales from the improvements Promax PX delivers in promotional quality, spend effectiveness and forecast accuracy.”