Improving forecast accuracy is never easy, but is an essential step to lowering inventory levels and the associated carrying costs and scrap.
Better forecasts also ensure that the right product is in the right place at the right time, delivering improved customer service levels and reducing the need for fire-fighting and expediting. In these days of complex and extended supply chains, increasing forecast accuracy is a competitive necessity to achieve top-line growth as well as bottom-line profitability.
This guide from Demand Solutions provides a ten point plan for creating more accurate demand information.