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Answers to Your Forecasting Questions
[ Q ] What is the best way to measure forecast accuracy? Should we calculate the forecast lag-3 vs. actuals (invoices/ shipments), or forecast lag-3 vs. booked orders. Booked orders are supposed to be true demand, but they are not because they are often re-booked because of inventory shortage. [ A ] Before answering, I want to be sure I understand the question. What does the forecast lag-3 imply?