Forecast accuracy is the single most important metric for demand planning, and quite possibly for the entire sales and operations planning (S&OP) process. If you start with an accurate forecast, the rest of the process is a lot easier. Improvements in forecast accuracy have a cascade effect, leading to reductions in inventory, improvements in customer service/reductions in stock outs, and eventually to increases in gross revenues and/or margins. But do you really understand forecast accuracy, and how to properly leverage it for results?
In this webinar, we will focus on explaining the foundations of forecast accuracy metrics:
How to measure forecast accuracy
Selecting the most meaningful offset or lag period
Units vs. revenue
Time buckets: Weeks, months or quarters
Impacts to functional groups: Sales, Marketing, Demand Planning
Strategies for transparent and effective tracking for improved results