Foresight Article: Overcoming Barriers to Improving Forecast Capabilities

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Foresight Article: Overcoming Barriers to Improving Forecast Capabilities

Henry Canitz, Director of Product Marketing, Logility, Inc.

A forecast is not simply a projection of future business; it is a request for product or a request for resources to ensure supply of a product. This makes forecast accuracy crucial for achieving customer-service goals and ensuring proper utilization of resources.

Supply-chain organizations routinely rank demand-planning immaturity as a major obstacle to meeting their supply chain goals. Typical issues that prevent a company from progressing include overreliance on spreadsheets, inadequate executive-management understanding and support, difficulty in developing expert resources, lack of capabilities such as management-by-exception and what-if scenario analysis, and decentralized execution by isolated business functions.

This is a summary of an article that originally appeared in Issue 41 (Spring 2016) of Foresight: The International Journal of Applied Forecasting. To read Hank’s article in its entirety, https://foresight.forecasters.org/overcoming-barriers/

Henry Canitz will join other speakers – experienced and accomplished forecasters and supply chain professionals – in providing perspectives on how to recouple these critical processes, reaping the benefits of lower costs and better service at the 2017 FORESIGHT PRACTITIONER CONFERENCE taking place November 15-16, 2017 at the Institute for Advanced Analytics North Carolina State University, Raleigh, NC.

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By |May 29th, 2017|Forecasting News|