The Smart Forecaster
Pursuing best practices in demand planning, forecasting and inventory optimization
Improve Forecast Accuracy, Eliminate Excess Inventory, & Maximize Service Levels
In this Video Dr. Thomas Willemain, co–Founder and SVP Research, defines and compares the most useful Forecasting Techniques: Exponential Smoothing, Single Exponential Smoothing, Holt’s Method and Winter’s Method. These videos explain the basic thinking under each technique as well as the math behind them, how they are used in practice and the tradeoff of each method.
Ensure inventory policy matches business strategy. Various team members can create their own scenarios, perhaps dividing the work by product line or sales territory. One decision maker can then merge these scenarios into a consensus plan.
Pulling all the data together on the cloud lets you automatically refresh the data every day and always see the full picture. Then you can run analytics to calculate multiple cost and performance metrics and how those metrics would change if you changed key drivers, such as supplier lead times.
This short note is about one way your business can develop a plan to adjust to one of the likely fallouts from the virus: sudden increases in the time it takes to get inventory replenishment from suppliers. Supply chains around the world are being disrupted. If this happens to you, how can you react in a systematic way?