Demand Sensing: Time for capability development

Demand sensing refers to using the POS level data with minimal lag to understand what is being sold, who is buying and what is impacting the demand. Demand Sensing primarily consists of following activities: Using POS or secondary sales data – that means ability to collect and analyze secondary data across market channels, geo etc

A Case For Composite Forecasting

As we know forecasting is a key element of demand planning process. There are various methods available for forecasting, starting from qualitative forecasting to quantitative forecasting. These two methods have their own use. In this article, we are going to talk about composite forecasting and its uses. Composite forecasting is a most talked about term

Outsourced Forecasting – FAQ

Where are the Real Opportunities for Forecast Improvement? The key opportunities for enhancing forecast accuracy and reliability with statistical forecasting applications lies more in a mastery of the forecasting system versus using domain expertise to the machine produced forecasting end result. In fact, most companies have no idea how much their planners are increasing or

GST Opportunity & Impact On Demand Planning

GST finally got rolled out this month marking a red-letter day for the Indian economy. From here on the life for the businesses shall never be same again and mostly for better as it is expected to vastly improve ease of doing business in the country. While the overall long-term impact of this landmark reform

Good Estimators Are Also Good Demand Planners

One of the key skills of a demand planner is knowledge of predictive statistics or estimation. As we know, there are four properties of a good estimator as mentioned below. In this article we shall explore these properties as applicable to demand planners as well. Unbiasedness Efficiency Sufficiency Consistency Unbiasedness In demand planning the planner

How Much Data Is Good For Forecasting?

When a demand planner thinks about Forecasting the first thing that comes to mind is data. It is a common question by the planners about ‘how much data is required for forecasting’. In this article, we are going to discuss about the amount of data required for the reliable Forecasting. First let us burst the

Does your planning software have a genie ?

The function of planning and forecasting goes back a long way and has mentions as an ancient practice in religious and historical texts. Like all other phenomena, the function deals with development and advancement, whether theoretical or technological, in a cyclic manner – Realise, Reconstruct, Refresh and Repeat.  When it comes to modelling times series sales