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Dr. Chaman L. Jain

Dr. Chaman Jain is a former Professor of Economics at St. John's University based in New York, where he mainly taught graduate courses on business forecasting. He is the Editor-in-Chief of the Journal of Business Forecasting and is the author of "Fundamentals of Demand Planning and Forecasting". He has authored, co-authored, or edited nine books, seven in the area of forecasting and planning.

Question:

Dear Dr. Jain,

What are the benchmarks in forecast accuracy in the retail industry, specifically for companies that use JDA Demand software?

Answer

These are benchmarks of forecast errors in the retail industry, based on the last five years of IBF surveys. Numbers represent the total industry, and not those of who use just JDA. Because of few observations in each survey, we have to combine the numbers.

Level1 Month Ahead2 Months Ahead1 Quarter Ahead
SKU

Category

Aggregate

30%

18%

9%

34%

20%

9%

33%

25%

8%

 

I hope this helps.

Dr. Chaman Jain,

St. John’s University

 

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