Demand Planning & Forecasting Best Practices

Today’s global marketplace is much smaller and interconnected thanks to technological advances. Your typical consumer is both capricious and impatient in their buying habits. Their demand for a product can change dramatically in the short time between product design and rollout. How does this impact demand planning and demand forecasting which are by nature inexact fields?

There is no…

Why Safety Stock Is So Important to Your Supply Chain

Managing a supply chain is not easy, although the job description is seemingly straightforward: Ensure that the right products are available at the right location at the right time. Sounds easy, right? That's because you haven't considered the factors that constantly get in the way — factors such as inaccurate forecasts, transportation delays, and inclement weather.

Of all the factors that…

The Seven Deadly Sins of Sales Forecasting: Part I

Can you name the Seven Deadly Sins?

Give yourself a pat on the back if you can remember at least a few of them. They are: lust, pride, greed, gluttony, envy, anger, and sloth.

The Seven Deadly Sins are reputed to earn you not just a slap on the wrist, but an eternal punishment.

Now, can you name the Seven Deadly Sins of Sales Forecasting? You're probably thinking, "I…