Achieving the desired benefits of accurately forecasting demand requires that you keep in mind some basics:
- Keep the goal of demand management clearly in focus: to predict customer demand accurately every time.
- Gain as much depth and insight into forecasting techniques as possible. Find that technique or combination of techniques which are responsive to your needs and are capable of being attuned to a changing environment.
- Measure, measure, measure!
- Apply what you learn from analysis of sales data, forecast data and of your measurements to improve your business.
- Bring your resources in line with what your customer requires.
Forecasting Demand Part 1: Is a Demand Forecast a Sales Target?
Forecasting Demand Part 2: What is Demand Forecasting?