If the answer to this question appears to be obvious, please read on! There’s been lots of discussion about how forecasting is done, but much less about what is forecasted. Now, this is an important issue for all forecasters, but none more so than Supply Chain forecasters. Let’s suppose you’re using a particular forecasting...
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Below details Questions & Answers from IBF’s Webinar “What Management Must Know About Forecasting.” If you missed it, no worries. You can view it complimentary by clicking HERE. 1. If a product is not forecastable, what’s the most appropriate step to move the product to become forecastable? Answer: The most effective way to improve...
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Are there some things you wish your organization’s management knew about forecasting? Those of us who have served time in the forecasting profession know that “serving time” is an apt description of the job. Being a business forecaster is sort of like being in county lock-up – without the benefit of free meals, charming...
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I remember the day very clearly when I read Donald J Wheeler’s book “Understanding Variation – The Key to Managing Chaos.” What grabbed my attention was the sterility of the traditional monthly report and, furthermore, the potential for it to be truly misleading. Let’s consider what is usually provided to managers prior to and,...
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