There’s an often-quoted saying: The only thing certain about a forecast is that it is always wrong. And yet, companies spend a great deal of time and resources trying to predict as accurately as possible the future demand of their supply chains. In spite of this significant investment, many steps and participants fail to make the forecast any better-and some only serve to make it worse. It’s time for companies to stop wasting their time and money and start eliminating forecasting activities that fail to add value.
Author: Michael Gilliland
Source: Supply Chain Management Review
Subjects: Management, Operations