How To Identify & Treat Outliers In Demand Planning
Unidentified and untreated outliers can generate false expectations for business, causing future disruptions, excess stock and loss of market opportunities. App... Read More...
Models & Methods
6 Steps That Brought Forecasting Back From The Dead At General Motors
This article describes the various steps that General Motors (GM) has taken to improve forecasts for better decision making. These include reducing waste, using... Read More...
In New Product Forecasting, Human Beats Machine
The world of forecasting today is filled with machine-related buzzwords like AI, predictive analytics and machine learning. Will all of forecasting be done by m... Read More...
5 Tips to Reduce Over and Underfitting Of Forecast Models
When it comes to forecasting models, there is no one size fits all. And with different inputs, methods, and parameters, how do you choose the right one, and onc... Read More...
Do Forecasts Have To Be Right To Be Valuable?
"I hate this part of my job -there's no way to be right." I'd had the same thought many times. I was talking to a fellow demand planner, who was under pressu... Read More...
How Do You Pick The Right Aggregation Level For Forecasting?
It's very common in forecasting to aggregate data in order to increase the signal/noise ratio, and there are several papers out there regarding the significant ... Read More...
5 Tips For Choosing The Right Forecasting Model
Selecting the right model plays a very important role in predictive analytics and forecasting. Use the wrong model, and you might as not have bothered at all. U... Read More...
The 6 Models Used In Forecasting Algorithms
An algorithm is a procedure or formula for solving a problem, based on conducting a sequence of finite operations or specified actions. Generally speaking, when... Read More...
How To Identify Multiple Seasonal Factors For The Same Product
Most forecasting approaches are based on the idea that a forecast can be improved if the underlying factors in the data can be identified and forecasted separat... Read More...
How Can I Aggregate Demand & Maintain Visibility At Customer Level?
Question
Dear Dr. Jain, We are currently working on improving our forecast accuracy. One of the ideas is to create an 'all other' group for the smaller cust... Read More...