*I use the term ‘useful’ and not ‘accurate’ on purpose.
As the demand forecast is used to trigger specific actions, it should be done at the right aggregation level, tracked with the relevant metrics, and supported by an efficient review process. A useful* forecast should allow your supply chain to improve its service level, plan better, reduce waste and overall costs. Your demand forecast is, therefore, a critical piece of information to make the right decisions. Most supply chains’ decisions rely on demand estimates. To make the best possible decisions, you need the right pieces of information. Supply chains are living organisms making hundreds - if not thousands - of decisions daily. The 4-Dimensions Forecasting Framework Demand Forecasting to Support Decision-Making I like to use this framework to kick off any forecasting project. In this article, I propose an original 4-dimensions forecasting framework that will enable you to set up a tailor-made forecasting process for your supply chain. Should this be considered a best practice, or is it merely a by-default, overlooked choice? I have seen countless supply chains forecasting demand at an irrelevant aggregation level - whether material, geographical or temporal. When it comes to demand forecasting, most supply chains rely on populating 18-month forecasts with monthly buckets. Theodor Galle nach Jan van der Straet (Stradanus), Destillierlabor c.
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