Best Practices for Demand Forecasting

How to improve forecasting accuracy in supply chains?
In this webinar, I discuss which best practices to apply when forecasting demand in supply chains.
Here is the step-by-step guide to demand forecasting excellence:
1. Pick the right granularity and horizon
2. Collect demand (and not sales)
3. Use meaningful forecasting metrics
4. Track Forecast Value Added

[@mariamasillah522]

THANK YOU

[@danielessiet4063]

Please which certification would you recommend for a demand planner?

[@nwabuezeprecious457]

How do you capture a demand for a manufacturer in a b2b setting. As orders are been placed and stored in the erp system. Do you use the quantity of order placed as the are intermittent in nature.

[@nicolasvandeput-SupChains]

Track historical orders (and even preorders) and censor periods with shortages: nicolas-vandeput.medium.com/forecasting-demand-despite-shortages-fee899120c08

[@prasvasu4217]

I just have a question on the first one; why do we focus til' M5; why not further and then how further do we forecast? Like a dynamic programming problem; we can keep focusing til' the end of the planning horizon to assess what's a good position at M5, M4,... right?

[@nicolasvandeput-SupChains]

Hello Pras,
You have two problems:
- On which horizon should you focus your forecasting effort
- On which horizon should you focus your planning effort
For both, if you use models (anything automated), you could do as much as possible.
But if you need human resources (to do the baseline or enrich a model), you'll have to focus on what's the most important. You only have limited time/resources.