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meeting

What is the difference between a Sales Forecasting Champion and a Demand Planner?

October 2, 2013 • Careers, FeaturedComments (0)

What is the basic difference between a Sales Forecasting Champion and a Demand Planner? Does a Demand Planner need to attend sales meetings? To my knowledge, there is no set definition of Sales Forecasting Champion; it varies from company to company. However, we need a champion, no matter what designation, to run the forecasting consensus [&hellip...

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codes

How to provide a forecast accuracy measure that represents a non-weighted average of products?

October 2, 2013 • Featured, How to, ModelingComments (0)

Our Supply Chain Manager has requested that we provide a forecast accuracy measure that represents a non-weighted average of our products, that is, Mean Absolute Percent Error (MAPE), not weighted Mean Absolute Percent Error (wMAPE). He says that our...

horizon

How can we use simple modeling methods to forecast for a longer horizon?

October 2, 2013 • Featured, How to, ModelingComments (0)

How can we use simple modeling methods, such as Moving Averages and Exponential smoothing, to forecast for a longer horizon? I note that these methods are good only for forecasting one period ahead. what do we do if we need to forecast, say, twelve periods...

salary

How can a demand planner estimate his or her value in the market in terms of salary expectation?

October 2, 2013 • Careers, FeaturedComments (0)

The best way is to see what the salaries market is offering to such professionals. See the table below. SALARY OF FORECASTING PROFESSIONALS (All Industries Combined) Rank Salary Forecast Analyst $77,198 Sr. Forecast Analyst 81,568 Forecast Manager $100,951...

Calculator

What is the best way to measure bias in forecasts?

October 2, 2013 • Featured, How toComments (0)

The objective of bias is to determine whether forecasts that are prepared have a tendency to over- or under-forecast. In other words, no one is biasing them in one direction or the other. Since academicians define bias differently, formulas given in...

Question

Why don’t forecasters get the respect they deserve from upper management?

October 2, 2013 • Featured, OpinionComments (0)

In my opinion, respect is earned, not commanded. I recognize that there are companies where management either doesn’t trust forecasts or sees no value in them. Here education is the key. Management needs to understand: One, forecasts are forecasts, but they...

Books

What academic work has been done in the financial end of S&OP?

September 2, 2013 • Featured, Odds & EndsComments (0)

I am writing my doctoral dissertation on the financial end of S&OP. My supervisor is asking me what academic work has been done in the area so that he can see my contribution to the current body of knowledge. I am glad you chose to write your doctoral...

Model

Forecasting for a manufacturer that produces based on tenders

August 2, 2013 • Featured, How to, ModelingComments (0)

What should be the forecasting model of a manufacturer that makes to order based on tenders? It wants to improve service time/availability by keeping some items in safety stock. The risk is that there is 50/50 chance that a tender may not be won. To minimize...

Patio Furniture

What is the right forecasting model?

August 2, 2013 • Featured, How to, ModelingComments (0)

What should be the right forecasting model for the Retail Furniture industry that has a life span of only six months? The best way to deal with this kind of product is to use its analog, a similar product that was launched in the past. Then determine...