In our line of work at Arkieva, when we ask this question of business folks: What is your forecast accuracy? Depending on who we ask in the same business, we can get a full range of answers from 50% (or lower) to 95% (or higher). How is this possible? Imagine a management team being given
Key Points on MAPE: Mean Absolute Percent Error (MAPE) is a useful measure of forecast accuracy and should be used appropriately. Because of its limitations, one should use it in conjunction with other metrics. While a point value of the metric is good, the focus should be on the trend line to ensure that the
Research shows that a majority of mergers fail. A recent study put the percentage as high as 83%. As one would imagine, there are various reasons for this high rate of failure. However, the reasons can be divided into two main groups:
My first memory of inventory is from a conversation I had with my Dad when I was probably 10 years old. I remember him telling me to go to a particular store because the owner kept a lot of inventory on hand. He equated that to the owner being a wealthy man, who obviously knew