The hurdle of forecasting, as expected, is that we cannot predict future demand. Subsequently, this can result in incorrect stock being held at incorrect locations in incorrect quantities. Hardly ideal.
Reduce your margin of error with our six tips:
- Adopt the correct forecasting method
- What’s causing the forecast error?
- Keep up with Product Life Cycles
- Tame the bullwhip effect
- Respond to change
Triumph over demand
By interpreting demand patterns, along with a products life cycle position, you can begin to stabilise forecasts and have inventory management capabilities down to a tee.
Read our ‘The Secret to Better Forecasting: 6 Steps to Increase the Accuracy of Your Forecasts’ Whitepaper now.