Demand Forecasting Best Practices

Demand Forecasting Best Practices is a unique step-by-step guide, ideal for demand planners, S&OP managers, supply chain leaders and data scientists, demonstrating forecasting tools, metrics, and models alongside stakeholder management techniques that work in a live business environment.

Demand Forecasting Best Practices is a handbook of techniques for effective demand planning for products of all types. You will learn how to optimise your data, metrics, processes, models, and even people to make better decisions and deliver value to your supply chains. Discover pro tips from author Nicolas Vandeput's global career in supply chain consultancy and dodge the common mistakes you might not know you are making. Illustrations, clear explanations, and relevant real-world examples make each concept easy to understand and easy to follow.

About the reader

For anyone who wants to improve their demand planning process, including demand planners, S&OP managers, supply chain leaders, and data scientists.

Master the demand forecasting skills you need to decide what resources to acquire, products to produce, and where and how to distribute them.

For demand planners, S&OP managers, supply chain leaders, and data scientists. Demand Forecasting Best Practices is a unique step-by-step guide, demonstrating forecasting tools, metrics, and models alongside stakeholder management techniques that work in a live business environment.

You will learn how to:

• Lead a demand planning team to improve forecasting quality while reducing workload
• Properly define the objectives, granularity, and horizon of your demand planning process
• Use smart, value-weighted KPIs to track accuracy and bias
• Spot areas of your process where there is room for improvement
• Help planners and stakeholders (sales, marketing, finances) add value to your process
• Identify what kind of data you should be collecting, and how
• Utilise different types of statistical and machine learning models

Follow author Nicolas Vandeput's original five-step framework for demand planning excellence and learn how to tailor it to your own company's needs. You will learn how to optimise demand planning for a more effective supply chain and will soon be delivering accurate predictions that drive major business value.

About the technology

Demand forecasting is vital for the success of any product supply chain. It allows companies to make better decisions about what resources to acquire, what products to produce, and where and how to distribute them. As an effective demand forecaster, you can help your organisation avoid overproduction, reduce waste, and optimise inventory levels for a real competitive advantage.