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Forecasting 101: How to Get More Accurate Forecasts With Less Cost and Effort
There’s nothing magic about the forecasting process, and there’s no such thing as the perfect forecast. But you can achieve better accuracy and forecasting process efficiency by understanding the nature of your demand patterns and where your forecasting process is adding value – or not.
This white paper is focusing on how to:
• Assess the stability or variability of demand to set appropriate expectations for forecast accuracy.
• Gather the data necessary for conducting FVA (forecast value added) analysis.
• Interpret FVA results and communicate results to management.
• Identify and eliminate forecasting process waste – those activities that fail to improve the forecast.