Tag Archive: forecasting

Forecasting: How Far Should You Look into the Future?

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Whether setting strategy or designing a SIOP (sales, inventory and operations planning) process, one of the most important questions to consider in forecasting is how far into the future will you look? And why? As we think about whether the answer should be 1 month, 1 quarter or 1 year, check your thinking. When assessing the future it is important to think through the elements that may impact your forecast. 10 Questions to Ask When Forecasting and Designing SIOP 1. Do you have customer contracts in your business/ industry? If so, how far out do they go? 2. Regardless of the…
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Collaboration Rules

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Collaboration is pivotal to success for manufacturers and distributors. Supply chains are connected to a larger degree than ever before.  Global is commonplace.  Customers and manufacturers talk frequently.  Suppliers collaborate with manufacturers on developing new products.  Collaborative planning, forecasting and VMI programs are commonplace.  In many industries such as aerospace and distribution, they are a “must”.  Consumers have gained a more powerful voice with social media.  Feedback is immediate.  The bottom line is that collaboration has evolved from a fluffy concept to a vital and pragmatic one. Certainly, collaboration arises on a daily basis in my consulting practice.  More and…
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