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Home » Why Your Forecast Is Wrong (And Always Will Be)

Why Your Forecast Is Wrong (And Always Will Be)

Why Your Forecast Is Wrong (And Always Will Be)

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Duration: 26:28
10-18-2017
How is your demand forecast like a tabloid psychic? Their record for accuracy is just about the same. Read More

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January 3, 2014
Robert J. Bowman, SupplyChainBrain

Rob Byrne, chief executive officer of Terra Technology, says big consumer-products companies typically have an average weekly forecast error of more than 50 percent. He joins us in this episode of the podcast to explain why. Byrne lays out all of the challenges that affect the retail forecast: corporate silos, individual bias, old technology and the massive number of SKUs that have to be tracked, to name a few. He also introduces the concept of demand sensing - a technique he says can help to improve the forecast, although no company will ever get it 100-percent right. Get used to it. Hosted by Bob Bowman, Managing Editor of SupplyChainBrain. 

Show notes: 

Terra Technology's Forecasting Benchmark Study.

Look for the next episode of the podcast, which can be downloaded or streamed, every Friday on the SupplyChainBrain website.

Stream or download podcast here 

  • Listen: Why Your Forecast Is Wrong (And Always Will Be)

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Product Lifecycle Management Sales & Operations Planning Forecasting & Demand Planning Supply Chain Finance & Revenue Management Supply Chain Planning & Optimization Supply Chain Visibility Technology Global Supply Chain Management All Warehouse Services Consumer Packaged Goods Food & Beverage Retail
KEYWORDS All Warehouse Services chief executive officer consumer packaged goods Demand Forecasting Demand Planning demand sensing Food and Beverage Forecasting & Demand Planning Global Supply Chain Management inventory control Inventory Management Product Lifecycle Management Retail retail supply chain Rob Byrne Sales & Operations Planning SC Finance & Revenue Management SC Planning & Optimization supply chain Supply Chain Analysis & Consulting Supply Chain Management Supply Chain Planning Supply Chain Visibility Technology Terra Technology
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Robert J. Bowman, SupplyChainBrain

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