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The Forecasting Accuracy Bugaboo

Logistics Viewpoints

When it comes to running a company, when things break down executives have traditionally said “we need to improve our forecasting!” Would better forecasting accuracy be a good thing? Unfortunately, most companies cannot, and will never be able to, consistently rely on highly accurate forecasts. Absolutely!

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Demand Planning Software – Top 3 Demand Forecasting Mistakes to Avoid

Logility

Top 3 Demand Forecasting Mistakes —How To Avoid Them with Demand planning software Demand forecasting is a critical facet of successful business operations, acting as the helm guiding companies through the rocks hiding beneath the water of market demands. What is Demand Forecasting?

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What’s the Value of Demand Forecasting?

New Horizon Supply Chain Blog

Introduction I was recently in a conversation about forecasting with a client team, and one individual, whose background was not in supply chain, asked what the value of demand forecasting is. Inventory metrics are less intuitive, but ever since U.S. The link between forecast accuracy and corporate goals is less clear.

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2023 Supply Chain Priorities, Perceptions, and Initiatives – Preliminary Results

Logistics Viewpoints

Our preliminary findings suggest that supply chain resilience has been increasing in importance over time, but still remains secondary to the end goal embedded in the perfect order metric – the right product, to the right place, at the right time. However, I am surprised at the degree that localized sourcing is being considered.

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Track the Supply Chain Metrics that Really Matter

Precoro

To monitor supply chain performance, stakeholders of successful companies typically define supply chain metrics that are relevant to the given business and track these KPIs regularly. By setting benchmarks for metrics, analysts can recognize unsettling trends and take preventive measures on time.

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What’s the Value of Demand Forecasting?

New Horizon Supply Chain Blog

I was recently in a conversation about forecasting with a client team, and one individual, whose background was not in supply chain, asked what the value of demand forecasting is. Inventory metrics are less intuitive, but ever since U.S. The link between forecast accuracy and corporate goals is less clear.

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Thriving In ‘The New Normal’ With 5 Demand Forecasting Models

ThroughPut

Step Up Demand Planning Efforts with a Robust Forecasting Model . Demand forecasting can be a game changer in today’s volatile environment. Infact, according to McKinsey , applying AI-driven demand forecasting to supply chain management can cut down errors by 20-50% and this helps reduce lost sales by 65%.