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Do you need a statistical forecast? Why do companies do it? When done properly, it drives increased sales, improves customer services, reduces inventory carrying costs, improves cash flow projections, and increases ROI while reducing employee costs and aiding production smoothing. Manufacturing companies need the right things in the right place at the right time. Collaborative processses and cross fucntional demand planning can leverage the data and insights generated with your forecasting. Still, statistical forecasting is not always the answer, and must be meaningful or risk being unreliable. So, it should not be the only method you utilize, but it will form the foundation of a solid collaborative demand planning process. Improve the accuracy and reliability of your statistical forecasting efforts with Steelwedge Insights. [Get started]. (link to contact).
