One-number Forecasting: Heinz’s Experience and Learning
One-number FOrecasting: Heinz’s experience and Learning by sara park The longer the forecasting period gets extended into the future, the more uncertainties, volatility, and biases get introduced … forecasting at the lowest level accounts much more effectively the growth or decline in a segment …. with a one-number forecast, it is easy to reconcile demand and supply. H H enry J. Heinz founded his company in 1869 when he was only 25 years old. His company’s first product was horseradish in clear glass bottles; his competitors were filling their opaque bottles with fillers such as sticks and leaves. Our world-famous tomato ketchup was first introduced in 1875, quickly becoming a condiment of choice. Heinz’s first venture overseas was in England in 1886, 17 years after the company’s inception. Many British people believe that it is an English company known for its bean and soup products. In 1958, Heinz made its first acquisition and never looked back. Today, it is the most globalized U.S.-based food company with many recognizable brands sold in more than 50 countries as either number one or number two in their category. Some of those categories include: Ketchup, ...
From Issue:
Spring 2008
(Spring 2008)
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