Executive Summary Companies often have statistical forecast models assigned to product locations, but without knowing if the model assignment is up to date. Model assignment also allows for the overall product database to be profiled. Introduction The statistical forecast model assignment is which statistical forecasting models apply to which product locations combinations. This does not…
Executive Summary Coronavirus is having an enormous impact on purchasing. Companies need to perform adjustments on their demand history to account for Coronavirus. Introduction Coronavirus is an international pandemic that so far has had the following effects on demand. See our references for this article and related articles at this link. A dramatic spike in…
Executive Summary This test was performed to test a common proposal by customers that smaller forecasting buckets lead to higher forecast accuracy. This test was performed with time-based forecasting disaggregation to enable an apple to apple comparison. Introduction It is common for companies to consider moving towards a weekly statistical forecasting bucket for supply chain…
Executive Summary This study was performed for a customer to verify a client’s hypothesis that weekly forecasting improves forecast accuracy versus monthly forecasting. Why I Performed this Study It is common for companies to consider moving towards a weekly statistical forecasting bucket for supply chain management. I recently came upon a company that had already…
Executive Summary Why quantifying procurement costs from forecast error and forecast accuracy is essential. Separating the reasons for procurement cost variability and the production costs calculator. Introduction The background as to the overall topic of forecast inaccuracy cost estimation is explained in this article. Conversely, what is the benefit of forecast accuracy? This article contains…
Executive Summary Forecast error has a specific cost to procurement. Why quantifying procurement costs from lower forecast accuracy is essential. Introduction The background as to the overall topic of lower forecast accuracy cost estimation is explained in this article. This article contains the calculator for one of the expenses associated with lower forecast accuracy, which…
Executive Summary Forecast inaccuracy has a cost for transportation. We quantify the cost of forecast inaccuracy with our expedited transportation costs calculator. Introduction to the Quantification of Forecast Inaccuracy The background as to the overall topic of forecast inaccuracy cost estimation is explained in this article. However, this article contains the calculator for one of…
Executive Summary Our lost sales calculator estimates lost sales so that it can be used to set service levels. We offer two versions of the cost of inaccuracy calculator. Video Introduction: Quantification of Higher Forecast Error Text Introduction (Skip if You Watched the Video) The background as to the overall topic of forecast error cost…
Executive Summary This article covers the costs of forecast inaccuracy and why it is essential to quantify the cost of forecast inaccuracy. This gets to creating a model for creating the cost of under and over forecasting. Introduction to the Quantification of Forecast Inaccuracy Most companies have not quantified the cost of forecasting inaccuracy, and…