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Demand planning and sales forecasting accuracy improvement and training by UK consultant |
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Demand Planning and Sales ForecastingForecast Solutions provides training and consulting to FMCG, pharmaceutical, construction and industrial companies in order to help improve demand planning, sales forecasting and sales forecast accuracy. Both small and large projects are undertaken. In a sales forecasting improvement programme current sales forecasting processes and methods are examined to assess how successful they are in meeting business objectives. Measurement of current and potential forecast accuracy is key. Improvements may involve process, demand forecasting methods and techniques or forecasting software. Sales forecasting and demand planning training courses and workshops are offered. Different approaches to forecasting are explored, including subjective methods, causal modelling and time-series projection. Demand planning courses also include aspects of stock policy, collaborative forecasting and demand management. Hopefully it will be possible to utilise existing sales forecasting software in the drive towards improved demand forecasting and forecast accuracy. However, there are times when a simple solution in Microsoft Excel may be useful, or expert help can be given with the specification and selection of specialist demand forecasting and planning software. If internal resource is not available, Forecast Solutions can fill the gap by providing an expert remote sales forecasting service. Specialist forecasting software is used to provide a baseline statistical forecast that may then be reviewed and modified by those in the business with detailed commercial knowledge. •
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sensitivity and weather sensitivity analysis Many sales forecasting systems, of course, rely on the simple forecasting methods of time series projection, thus analysing sales trends and seasonal patterns in the history and projecting into the future. Although these forecast techniques make the sometimes dangerous assumption that current patterns will continue into the future, they may be the best alternative available. Both curve fitting and the commonly used exponential smoothing methods fall into this category. The most effective sales forecasting techniques and methods may vary depending on the time horizon involved. In medium to long range forecasting, such as for sales and operations planning, it is important to reflect product life cycles and expected changes in the competitive and technological environment. On the other hand short term demand forecasting and planning is more to do with detailed tracking and management of short term demand in order to minimise inventory and maximise customer service.In all demand forecasting systems, forecast accuracy is paramount. Improved forecast accuracy in the short term sales forecast leads to lower stock levels, reduced operational costs and better customer service. Accurate medium term demand forecasting is essential for effective medium range business planning including sales and operations planning. UK Consultants & Consultancies - List of independent consultants and consultancies. |
