We invite you to join us this Thursday, May 18 @ 1:30 PM EDT, for a live educational Webinar “How to Leverage Multiple Forecasts and Views to Create an Accurate Demand Plan“ featuring Todd Ferguson, Principal at Oliver Wight.
Join us in Orlando, Florida for a comprehensive three-day educational seminar Business Forecasting: Techniques, Applications and Best Practices on March 29-31, 2017.
ABC classification, also known as Pareto analysis, is a useful method for classifying forecast items based on their relative importance to the organization. Many companies adopt different procedures for creating, reviewing and monitoring forecasts based upon an item’s classification. This enables the forecasting team to focus its efforts on those items which have the greatest impact to the organization.
Items are typically categorized as follows:
- A: important high volume items
- B: medium volume items
- C: slow moving items
In the field of business forecasting, is there a disconnect between practitioners and academia? You are invited to share your opinion in a study being conducted at Central Michigan University
Users can now enjoy the variety of improvements available in Forecast Pro Version 9. The features found in the new release–including an enhanced user interface, methodology improvements and the new Custom Component Model–make the software more powerful and easier to use.
Here’s an overview of what’s new in Forecast Pro Unlimited v9:
The newly-published reference book Business Forecasting: Practical Problems and Solutions compiles important and influential literature in the field into a single comprehensive resource for improving your forecasting process.
Error measurement statistics play a critical role in tracking forecast accuracy, monitoring for exceptions, and benchmarking your forecasting process. Interpretation of these statistics can be tricky, particularly when working with low-volume data or when trying to assess accuracy across multiple items (e.g., SKUs, locations, customers, etc.). This installment of Forecasting 101 surveys common error measurement statistics, examines the pros and cons of each and discusses their suitability under a variety of circumstances.