Sometimes statistical prediction is confused with statistical forecasting. Forecasting can be considered a prediction model but not all prediction models can be considered forecast models.
Use this comprehensive guide to get started with your product-customer demand segmentation analysis process.
Stop using traditional forecast accuracy metrics to measure forecast for sporadic demand patterns. Use this method instead.
Gartner estimates that by 2020, 60% of revenue in supply chain dependent industries will be driven by digital business.
Who should take ownership of the demand management process within the organization? Is it Sales and Marketing?
To stay ahead of the curve, effective demand planners must track the right metrics that can help curtail possible demand planning issues ahead of time.
Organizations need to regularly upgrade their products and launch new products to stay competitive and grow their businesses. However, a new product launch poses a totally new challenge – new product forecasting.
Here’s a quick look at how to identify and fix errors in planning execution systems.
Selecting the right forecasting methods can be highly critical in how accurate your forecasts are. Unfortunately, there isn’t a golden ticket to forecasting which can essentially ensure accuracy. While the best-fit forecasting method is dependent on a business’ specific situation, understanding the types of forecasting methods can aid in your decision-making.
How to determine when to use a best-fit analysis and when to use prediction techniques for demand forecasting analysis.