How many times have you heard your Forecast Accuracy is too low and it must improve? Then you think, “It is a forecast!! If I could predict it to 100%, I’d have gone to Vegas and be retired now.”
Well, we may not be able to help out your early-retirement plan that comes from a “perfect forecast,” but we will try to help make sure you are measuring the right behavioral results to drive improvement at your company. Our combined experiences have provided us with some insight into forecasting metrics and reporting that we will share with you in October at the IBF Conference.
Every company has “their” metrics and “their” reports, and everyone uses this information differently. While we all want to think that “our” way is the best way, Natalie and I believe that there’s not one perfect set of measures (despite our presentation title). The key is how you adapt metrics to fit with your company’s culture, and how you use the data to drive improvement or support decisions. We have many real life examples of how we create our “perfect” set of metrics to measure our supply chain performance and how we drive improvement and decisions with this information. In Orlando at IBF, we will challenge you with our presentation to evaluate your “perfect” set of metrics and to find opportunities for improvement within your own company.
We look forward to being able to share some of our company’s “Perfect” Set of Forecasting Metrics, as well as learning about your “perfect” set of metrics at the upcoming IBF’s Best Practices event in Orlando.