Supply Chain View

In December 2006 I presented seminar for the CILT on Supply Chain Inventory Management, and this very simple demonstration comes from that presentation. It is designed to highlight the different levels of forecast accuracy that we can achieve for slow and fast SKUs. (As I mentioned in my post from 29 Nov 06, estimating forecast accuracy is very important.) Anyone can do this – all you need is a standard pack of playing cards.
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Let’s face it, we never think our forecasts are accurate enough. We suspect there must be a better way out there. Often this is down to the simple fact that forecasting is never precise. How can it be? I often think that one of the most important eureka moments for a supply chain professional is the realisation that a good measure of the likely error in a forecast is as important as the forecast itself – more on that later.

Forecasting solved?

We might be tempted to believe that modern planning and forecasting systems have relieved us of the need to think too carefully about choosing forecast methods. Read more »

Perhaps you’ve arrived here looking for the Humanitarian Emergencies Logistics Professionals forum (HELP). If so, you may be confused.

The forum can be found at help.supplychainview.com

The Supply Chain View blog was launched Nov 2006. Please check back for comment and views on supply chain issues, or subscribe to the RSS feeds.