How to Forecast Low Volume, High Dollar Items
… are made for delivery that is often not attainable. In both circumstances, salespeople will often lambast those in operations not to meet their declarations.
People often, and erroneously, think that forecasting by the customers is useful and can lead to more accuracy.
In their Supply Chain Planning Magic Quadrant report, Gartner stated that Big Data is going to allow more forecasting by the customer rather than the forecasting by-product, which I will explain in a future article, will not lead to improving forecasts.
The author for Gartner is mistaken. Forecasting by the customer is not great because customers are …