forecast error Archives - Demand Planning

How I React When Forecasted Demand Deviates from Actual Demand

Sean BarronJune 3, 2022

As I have written about before in a previous article, Forecasting Materials Usage At An Electric Utilities Company, forecasting efforts for an electric utility company are imperative. Forecasting is an essential part of our demand management ... Read More...

Models & Methods4 Comments 0

Tracking Forecasting Error With An Excel Model (With Free Download)

Manas AcharekarApril 22, 2022

Peter Drucker’s famous axiom “You can't improve what you don't measure” is particularly relevant to business forecasting. As Demand Planners, we want to measure our forecast performance so we can iterate and improve. Here I present an Excel-based... Read More...

AnalyticsKPIs/Metrics0 Comments 0

3 Sources Of Forecast Error To Avoid

Thomas WillemainFebruary 28, 2022

Those seeking to reduce error can look in three places to find trouble: The data that go into a forecasting model, the choice of a forecasting method, and the organization of the forecasting process. Let's look at each of these elements to unders... Read More...

AnalyticsData0 Comments 0

Ask Dr. Jain: Where To Put The Forecasting Function For Lowest Forecast Error?

Dr. Chaman L. JainSeptember 23, 2019

Do you have any research/survey data regarding where to place the forecasting function? I have a client who is in the process of migrating to the S&OP process and wants to decide where to put it. They do not want it within Supply Chain, and are ... Read More...

S&OP/IBP0 Comments 0

Ask Dr. Jain: What Are The Forecast Accuracy Benchmarks In Retail?

Dr. Chaman L. JainJune 22, 2018

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 fi... Read More...

KPIs/Metrics2 Comments 0

Stop Saying Forecasts Are Always Wrong

Eric Wilson, ACPFFebruary 20, 2018

For many of us, the words “the forecast is always wrong” has become something we instinctively say. There’s nothing wrong with acknowledging there is variation in demand or admitting we may miss a projection. But when it becomes your automatic respon... Read More...

Forecasting and Planning5 Comments 2

Product Portfolio Optimization – Journal of Business Forecasting (Special Issue)

Dr. Chaman L. JainFebruary 29, 2016

Within the pages of this particularly exciting issue, you will read articles written by the best minds in the industry to discuss multiple important aspects of Product Portfolio Optimization. This is an important topic because in today’s highly compe... Read More...

Forecasting and Planning0 Comments 0

Risk-Adjusted Supply Chains Help Companies Prepare for the Inevitable

Wade McDanielFebruary 19, 2016

Each time I get in my car and drive to work, or the grocery store or wherever, there are a myriad of dangers that I might encounter. I could get t-boned at an intersection by a distracted driver; I might blow a tire and swerve into a ditch or a piece... Read More...

Forecasting and Planning0 Comments 0

Forecasting & Planning Learnings from Day 2 of IBF Academy: An Attendee’s Perspective

Jeff MeterskySeptember 16, 2015

Last Month, I had the opportunity to attend IBF’s Business Forecasting & Planning Academy held in Las Vegas. I recently shared some insights from the first day of the program. Day 2 was similarly eventful. Here are some highlights.... Read More...

Forecasting and Planning1 Comment 0

Are You Effectively Leveraging Point-of-Sale (POS) Data In Your Forecasting & Inventory Management?

Manikantan AryapadiSeptember 9, 2015

Today, we have an explosion of data. It is estimated that 2.5 quintillion bytes of data are created every day with 90% of the world’s data created in the past 2 years! The key question becomes what do we do with all this data? ... Read More...

Forecasting and Planning1 Comment 0