Often the biggest challenge when implementing a successful forecasting process has nothing to do with the analytics. Forecast adoption – incorporating forecasts into decision-making – is just as high a hurdle to overcome as the models themselves. Forecasting is more than analytical models Developing a forecasting process typically begins with
Tag: consensus forecasting
The past 20 months of disruptions caused by COVID-19 have been a wake-up call for retailers and consumer goods companies. Unpredictable market trends have caused havoc with categories, brands and products making it harder to predict supply requirements. All of these changes have given rise to the need for consumption
If you think machine learning will replace demand planners, then don’t read this post. If you think machine learning will automate and unleash the power of insights allowing demand planners to drive more value and growth, then this article is a must read.
Because you are already halfway there and you should want the entire process to be data-driven, not just the historical reporting and analysis. You are making decisions and using data to support those decisions, but you are leaving value on the table if the analytics don't carry through to forecasting. In the