There is value in reducing forecast error for sure - the evidence comes from the fact that year-after-year companies continue to hire more demand planners and invest millions of dollars in putting together processes and software packages. Now to dissect this, let us look at the Service-Cost Balance model that we preach in our workshops. Now if we want to quantify the benefits from forecast accuracy, it is difficult to quantify the first item. What is our lost sales? What …
Tag: forecast error
In Demand Planning, Forecast Modeling, SAP APO, SAP SolutionsTags APO alerts, APO DP, forecast error, Forecasting, modeling in APO DP, Univariate Forecast Alerts, usability48 Views services
We just re-launched the marketing campaign for our Usability Consulting - Model tuning and model matching to product profiles are important elements of the Usability training. Once implemented the Usability …
In Inventory managementTags EOQ, forecast accuracy, forecast error, Price Hedge, quantity discount, safety stock56 Views services
If all works well, then it is a perfect world. You carry just the right amount of inventory to service your customers at 99% and get away with very minimal …