Many companies still look at quantitative forecasting methods with suspicion, but a new awareness is emerging across many industries as more businesses and professionals recognize the value of integrating demand data (point-of-sale and syndicated scanner data) into the forecasting process. Demand-Driven Forecasting equips you with solutions that can sense, shape, and predict future demand using highly sophisticated methods and tools. From a review of the most basic forecasting methods to the most advanced and innovative techniques in use today, this guide explains demand-driven forecasting, offering a fundamental understanding of the quantitative methods used to sense, shape, and predict future demand within a structured process. Offering a complete overview of the latest business forecasting concepts and applications, this revised Second Edition of Demand-Driven Forecasting is the perfect guide for professionals who need to improve the accuracy of their sales forecasts.Completely updated to include the very latest concepts and methods in forecasting Includes real case studies and examples, actual data, and graphical displays and tables to illustrate how effective implementation works Ideal for CEOs, CFOs, CMOs, vice presidents of supply chain, vice presidents of demand forecasting and planning, directors of demand forecasting and planning, supply chain managers, demand planning managers, marketing analysts, forecasting analysts, financial managers, and any other professional who produces or contributes to forecasts
Accurate forecasting is vital to success in today's challenging business climate. Demand-Driven Forecasting offers proven and effective insight on making sure your forecasts are right on the money.
It is time to rethink the way businesses organize and run forecasting processes and how they use the insights that they provide to navigate through these turbulent times. This book synthesizes and structures findings from a range of disciplines and over 60 years of the authors combined practical experience. This is presented in the form of a set of simple strategies that any organization can use to master the process of forecasting. The key message of this book is that while no mortal can predict the future, you can take the steps to be ready for it. ’Good enough’ forecasts, wise preparation and the capability to take timely action, will help your organization to create its own future.
Written in an engaging and thought provoking style, Future Ready leads the reader to answers to questions such as:What makes a good forecast? What period should a forecast cover? How frequently should it be updated? What information should it contain? What is the best way to produce a forecast? How can you avoid gaming and other forms of data manipulation? How should a forecast be used? How do you ensure that your forecast is reliable? How accurate does it need to be? How should you deal with risk and uncertainty What is the best way to organize a forecast process? Do you need multiple forecasts? What changes should be made to other performance management processes to facilitate good forecasting?
Future Ready is an invaluable guide for practicing managers and a source of insight and inspiration to leaders looking for better ways of doing things and to students of the science and craft of management.
Praise for Future Ready
"Will make a difference to the way you think about forecasting going forward"
—Howard Green, Group Controller Unilever PLC
"Great analogies and stories are combined with rock solid theory in a language that even the most reading-averse manager will love from page one"
—Bjarte Bogsnes, Vice President Performance Management Development at StatoilHydro
"A timely addition to the growing research on management planning and performance measurement."
—Dr. Charles T. Horngren, Edmund G. Littlefield Professor of Accounting Emeritus Stanford University and author of many standard texts including Cost Accounting: A Managerial Emphasis, Introduction to Management Accounting, and Financial Accounting
"In the area of Forecasting, it is the best book in the market."
—Fritz Roemer. Leader of Enterprise Performance Executive Advisory Program, the Hackett Group