The 7 Habits of Highly Effective Forecasters

As a consequence of being in a forecasting consultancy we have picked up an in-depth understanding of the planning and forecasting functions of the firms. One conclusion we have drawn is that irrespective of distribution, dimension or division, most firms have similar struggles from similar function weaknesses. What we also noticed is that for demand

Romancing the Regression Equation

Regression is one of the highly spoken about quantitiative methods in forecasting. It is a statistical method of identifying relationship between two or more variables (one dependent variable and others independent variables). If these two variables have a strong relationship then we leverage this relationship to use the knowledge of the independent variable to predict

Still believe business forecasting is not for you?

Business planning & forecasting as a subject and function makes for an interesting discussion on its importance. With availability of data and technology the function is now making its presence felt in the increasingly competitive business world. However, this is not without its set of resistances specially from the traditional thought process. In this write

New Product Forecasting

Today, most companies involve themselves with a wide range of products. Competitive compulsions force companies to keep the product range fresh and relevant in the marketplace and hence introduce new products in high frequency than ever before. However, from the planning perspective, forecasting demand for the new products is one of the biggest challenges for

The Pecking Order of Demand

Of late we noticed something strange in some of the big companies that we are working with and we guess they found something strange about our observations. The demand planner in all of these companies was working directly at SKU level and nothing above it. This means that if the company has 10,000 SKUs, the

S&OP and Importance of Collaboration!

Notes from the round table discussion on S&OP and Collaboration at the IBF Conference, Dubai in April 2016 It is very apparent that the success of the S&OP process lies with the support of the management as was the feedback from every one. No amount of noble intention from the planning team can make it

Making Forecasting A Team Sport

Collaborative forecasting as a term has been in vogue for quite some time. However, in reality it is seldom seen in action except in the organizations with a very disciplined demand planning process. Even then the collaboration is a highly manual process relying on emails and Excel Documents. Demand planning is one operation that works