How To Improve Forecast Accuracy During The Pandemic?
Q) During the current pandemic we are facing a very difficult time in preparing forecasts. Our forecast accuracy is far below what used to be. Can you suggest a... Read More...
Analytics
What Is Forecast Bias?
Q) What is forecast bias? Do you have a view on what should be considered as “best-in-class” bias? A) It simply measures the tendency to over-or under-foreca... Read More...
Stop Worrying About Forecast Accuracy!
“Ah, my forecast accuracy was bad last month because marketing added a promotion too late...” “My forecast accuracy is fantastic; I achieved 70% for mon... Read More...
5 lessons I Had To Learn As A Demand Planner
Sometimes things are not always what they seem or how you imagined them to be. Making my start in demand planning a few years back, there were some importan... Read More...
Breaking The Magician’s Code: Revealing The A.I Algorithms Behind Predictive Analytics
I am going to attempt to pull back the curtain and unveil the magic behind the most common algorithms used in predictive analytics for business forecasting,... Read More...
How Planning Leaders Are Protecting Their Companies From The Pandemic
IBF recently asked demand planning leaders how they are guiding their companies through the pandemic. The following reveals the key insights from those conversa... Read More...
Practical Methods For Identifying Seasonality In A Dataset
At my former company, Bendix Commercial Vehicle Systems, an Ohio-based manufacturer of brakes and safety systems, I was asked to come up with a list of seas... Read More...
Beware The Pitfalls Of AI In Demand Planning
As we integrate artificial intelligence (AI) and machine learning (ML) into our demand planning processes, I am sure that we will see improvement in our abi... Read More...
What Forecasters Can Learn From Punxsutawney Phil On Groundhog Day
Along with the 14th of March, today should be our field’s public holiday. Why? Because today we celebrate one of the greatest forecasters and prognosticators in... Read More...
Updating Machine Learning Models To Adapt To Demand Shifts
Even before the pandemic, foward-thinking retailers leveraged AI and machine learning technology (ML) for demand forecasting. In the post-Covid world, howev... Read More...