Forecast Accuracy Issues? 7 Tips to Improve Projections

Forecast Accuracy Issues? 7 Tips to Improve Projections

Image via Flickr by victor1558

Supply chain experts and business analysts use many different models to forecast supply and demand. When it comes to forecast accuracy, no single technique gets it right every time, but the tips below can help you improve your projections.

#1: Take Advantage of Available Intel

The supply chain affects several points of business operation and involves a variety of professionals. The most accurate forecasts are often a collaborative effort between local managers, industry analysts, suppliers, and other experts who influence inventory and demand trends. A unified framework for projections that includes all relevant data is usually the most successful.

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