What do battery operated lawnmowers, $1B of crop protection annual R&D and making chemical drum orders on your iPhone have in common? More than you would think. All of these things have been used as examples of how the world’s leading companies are working to improve their supply chain planning and forecasting process at...
Teamwork, collaboration, transparency and increased profitability. Sounds like some Disney Magic, right? Well based on the experiences shared from the panel at the Institute of Business Forecasting & Planning’s kickoff event on Sunday dubbed the ‘Advanced S&OP Practices Forum’ it’s in fact real and achievable. The panel, which was an opening to IBF’s Supply...
One of the interesting things about forecasting finished goods is how many functions participate in the development of the forecast and are subsequently impacted by the results. In a typical S&OP and consensus forecasting process, Sales, Operations and Planning collaborate to reach a best forecast to drive the operations and profit forecast for the...
I’m sure that all of us have played the Telephone Game at one time or another. One person starts a message that travels through several people and then we all have a good laugh over how much that message changed by the time it got to the last person. As funny as that can...
Why don’t you have these in stock? Why do you have so many of these in the warehouse? Why is your fill so low? Do these questions seem familiar coming from members of your management team or your customers? Of course they do! They are constantly asked throughout the year as we all try...
A big treat in attending a conference is not only learning from attendees, but also having the benefit of one-stop shopping when it comes to vendors in the exhibit hall. These vendors travel across the country, often times lugging huge displays, screens, white papers and swag to meet with current and potential clients and...
When you come to a conference, all you want is to talk to as many people as you can so you can learn what everyone else is doing and learn from them. Speaking with one attendee, they shared how in their group, there is only four demand planners, spread across the globe. The benefit...
Demand planning and forecasting is a process which, because of its intrinsic focus on “error”, too often invites misguided efforts at producing perfection. Like the alchemists’ quest for gold, the goal is illusory and may cost more than any benefit it yields. Consider that the result of demand planning is only profitable to the...
Monday, 8:05am: your boss calls you into his office and says, “I just got back from the Supply Chain Forecasting & Planning Conference. We need to start a S&OP process!” He hands you a 9 inch thick textbook and barks “get it going!!.” So you dutifully read the textbook, gather your team, collate the...
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...