For those of you on LinkedIn, be sure to sign up for the Institute of Business Forecasting and Planning discussion group. This is an active (and addictive) forum for sharing information and perspectives on a wide variety of forecasting & planning topics. The following question was posted by Reno DiGenova, the VP – Replenishment,...
Have you ever pitched a new idea or process improvement where everyone agreed, but you kept running into road blocks once you began the implementation? It seems that most everyone believes in “change” until it starts to affect them. The more you can manage...
Motivational speaker Lou Tice called it a “Scotoma”—an area of partial alteration to one’s field of vision. Allstate Insurance represents something similar in one of it’s television commercials featuring a man by the name of “Mayhem”. In this particular ad we see Mayhem clinging...
Forecasting performance objectives are usually set in one of three ways: Relative to “best-in-class” industry benchmarks. Improvement over prior year performance. Arbitrarily – based on what management wants or...
How often have you heard these words during a meeting in your office? “Say what? Forecast for an unplanned event? Isn’t that like buying flood insurance in Phoenix? Regardless...
“So, even a well thought-out forecasting process can be wasteful if it is not done properly.” This was a remark made by one of the attendees who came to...