article thumbnail

NRF Forecasts 2024 U.S. Retail Sales of $5.2 Billion

Supply Chain Matters

Last week, the National Retail Federation (NRF) forecasted its outlook for retail sales this year. Non-store and online sales included in the above figure are forecasted to grown in a range of between 7 percent and 9 percent year-over-year, equating to a range of $1.47 The 2024 forecast compares to the sales growth of $5.1

article thumbnail

Improve Forecast Quality and Reliability with Value-add Forecasting (Part 1)

Logility

The ability to effectively forecast demand is essential for supply chain management decisions. In fact, demand forecasts are used throughout the supply chain including supply chain design, purchasing, operations, inventory, and sales and marketing. The payoffs were big, but they did not come easily. So what’s the upside?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What Technology are Teams Using to Support Their Demand Forecasting Process?

AIMMS

Part II in our series on assessing your Demand Forecasting process . In Part I of this series , we looked at supply chain professionals’ perception of forecast accuracy and how they see their forecast evolving in the future. The use of technology for demand forecasting is widespread .

article thumbnail

Planning Seasonal Food Production in Uncertain Times

DELMIA Quintiq

In any regular year, manufacturers of seasonal foods such as ice cream, beer and BBQ meat have to deal with uncertainty because consumption of their products are highly dependent on food trends and the weather. He identifies several forecasting models that can be used once the parameters of the pandemic are identified.

article thumbnail

2021 Logistics Outlook: Truckload Freight Market Forecast

GlobalTranz

The volatility of 2020 and the uncertainties looming into 2021 make it difficult to forecast planning and budgets based on historical data. A pet-buying spree drove sales of dog food and other pet supplies, as people adopted pets to keep them company during the lockdowns. Contact GlobalTranz Today.

article thumbnail

Supply Chain Roundtable Series: Getting Demand Forecasting Right 

Unleashed

Demand forecasting has gained increasing importance over the last few years. We met with five supply chain experts to discuss how crucial demand forecasting is for mitigating risk, and what businesses can do to improve forecast accuracy. Our experts explain that best-practice demand planning begins with a top-down forecast.

article thumbnail

How AI Is Changing Perishable Food Forecasting

Supply Chain Brain

Accurate forecasting is essential for upstream supply-chain planning and execution — and reducing food and financial waste.