Worst Forecasting Practices In Corporate America And Their Solutions—Case Studies

WOrst FOreCasting PraCtiCes in COrpOrAte AMeriCA And tHeir sOLutiOns—Case studies By Lad A. dilgard Describes some of the worst forecasting practices in corporate America and what can be done about them … worst of all is that some feel that they are doing a good job in forecasting, while others have products they believe cannot be forecasted … the person selected as a champion for forecasting should not reside with any functional area. I I have worked in dozens of medium and large companies as a consultant or logistics manager, and not one of them had forecasting / demand planning processes that could be considered effective. They did not believe they needed to pay much attention to improving forecasting, though they needed some forecasting capability, which might not be fully leveraged or properly understood. Furthermore, they did not feel that they need a complete overhaul requiring major changes in existing processes. In my experience, many companies have no forecasting capability at all because they feel it’s not necessary at their companies. Some of these companies are profitable, well heeled, and stable, while others are in obvious decline, struggling ...