Logility's Attribute-Based Forecasting Provides Higher Forecast Accuracy than Traditional Forecasting Models
Attribute-based forecasting increases forecast accuracy of new product introductions, short life cycle products and product phase-outs
Atlanta (April 30, 2008) – Logility, Inc. (NASDAQ: LGTY), a leading supplier of collaborative solutions to optimize the supply chain, today announced that Logility Voyager Solutions helps companies increase forecast accuracy and manage the product lifecycle more effectively through an Attribute-based forecasting model.
Logility’s Attribute-based modeling provides significant improvements in the forecast accuracy of New Product Introductions (NPIs), short lifecycle products and the phase-out of existing products—product lifecycles that are more difficult to forecast with traditional time-series approaches. The Attribute-based modeling consists of four key areas: creation of demand profiles; automatic assignment of demand profiles to NPIs, short life cycle and product phase out; adjustment of forecast based on early demand signals such as Point-of-Sale (POS); and assessment of the accuracy of assigned demand profile vs. available catalog of demand profiles.
Logility Voyager Solutions provides a wide variety of demand and seasonal profiles that give planners the ability to create demand profiles based on user-defined attributes such as color, fabric, region, store type, etc. The Attribute-based model analyzes historical sell-in, sell-through or POS data as the basis for the demand profiles and monitors the accuracy of the forecast and the demand profile according to consumer response via demand signals such as the POS data. Through correctness-of-fit evaluation, Logility Voyager Solutions can automatically adjust the forecast and/or demand profile assigned to the product.
“The key to the process is matching the phase of a product’s lifecycle with the correct forecasting model,” said Mike Edenfield, president and CEO, Logility. “With Logility’s unique ability to match the product lifecycle with the proper forecasting model, including Attribute-based modeling, the forecast accuracy is improved which in turn ensures that the right products are available at the point of consumer demand.”
For more information on how Logility’s Attribute-based forecasting can help model each phase of a product’s lifecycle, increasing forecast accuracy and customer service levels, visit www.logility.com.
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About Logility
With more than 1,250 customers worldwide, Logility is a leading provider of collaborative, best-of-breed supply chain solutions that help small, medium, large and Fortune 1000 companies realize substantial bottom-line results in record time. Logility Voyager Solutions is a complete supply chain management solution that features performance monitoring capabilities in a single Internet-based framework and provides supply chain visibility; demand, inventory and replenishment planning; Sales and Operations Planning (S&OP); supply and global sourcing optimization; manufacturing planning and scheduling; transportation planning and management; and warehouse management. Logility customers include McCain Foods, Pernod Ricard, Sigma Aldrich, and VF Corporation. Logility is a majority owned subsidiary of American Software (NASDAQ: AMSWA). For more information about Logility, call 1-800-762-5207 or visit www.logility.com.
Forward-Looking Statements
This press release contains forward-looking statements that are subject to substantial risks and uncertainties. There are a number of factors that could cause actual results to differ materially from those anticipated by statements made herein. These factors include, but are not limited to, changes in general economic conditions, technology and the market for the Company's products and services including economic conditions within the e-commerce markets; the timely availability and market acceptance of these products and services; the effect of competitive products and pricing; the uncertainty of the viability and effectiveness of strategic alliances; and the irregular pattern of the Company's revenues. For further information about risks the Company could experience as well as other information, please refer to the Company's Form 10-K for the year ended April 30, 2007 and other reports and documents subsequently filed with the Securities and Exchange Commission. For more information about risks the Company could face as well as other information, contact Vincent C. Klinges, Chief Financial Officer, Logility, Inc., 470 East Paces Ferry Rd., Atlanta, GA 30305, (404) 261-9777. FAX: (404) 264-5206 INTERNET: http://www.logility.com or E-mail: asklogility@logility.com.
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