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Your Sales Plan is NOT a Forecast!

The Logistics & Supply Chain Management Society

Your Sales Plan is NOT a Forecast! That was an absurd leap to make, I know, but no more absurd than using the terms “sales plan” and “sales forecast” interchangeably in a retail setting. ” “Reconciling” the Plan and the Forecast. – William Hazlitt (1778-1830). Nor should it.

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Supply Chain Forecasting with AI

ThroughPut

In the ever-evolving landscape of global commerce, businesses face a significant challenge: the pain of inaccurate forecasts and the relentless pace of market conditions. The agitation stems from the financial loss and operational inefficiencies accompanying these inaccurate forecasts. AI in supply chain forecasting is a game-changer.

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Simplifying Probabilistic Forecasting

ToolsGroup

In episode nine of Be Ready for Anything, supply chain expert Stefan de Kok breaks down the basics of probabilistic forecasting. I’m your host, Mary Vasile, and today I’m delighted to welcome Stefan de Kok who is going to shed some light on probabilistic forecasting. If you went to academia, they call it a density forecast.

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Essential Guide for Demand Forecasting in 2024

ThroughPut

Demand forecasting is a critical component of supply chain management, especially in the complex and unpredictable market landscape of 2024. Accurate forecasts are essential for maintaining inventory balance, ensuring customer satisfaction, and achieving financial stability. What is Demand Forecasting?

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10 Must-Read Supply Chain Analytics Books for 2023

SCMDOJO

We’ve compiled a list of 10 great supply chain analytics books to help you better understand the concepts and strategies behind this vital business field. From foundational reads to more advanced topics, these books will help you start your journey into the world of supply chain analytics!

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5 Demand Planning and Forecasting Methods that Accurately Predict Demand

ThroughPut

Accurately forecasting sales with fluctuating demand cycles is difficult to achieve, and yes, there’s a direct impact: the less accurate the sales forecast, the less precise the stocking levels. The lack of forecasting accuracy can easily spill hardship into other departments. What is Demand Forecasting?

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Definitions Matter

Supply Chain Shaman

I just went live this year with a Fortune 25 company, and their factories book against their orders online. Traditionally, the definition of end-to-end supply chain planning meant: Forecasting based on order or shipment patterns. Forecast consumption into supply planning based on rules (rules-based-consumption). Is there value?