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Statistical Forecasting: Earning a Seat at the Table By Carlos Madruga, ACPF
All too often, skilled Demand Planners and Forecasters fail to convey the value of their insight to key stakeholders, failing to get buy-in and establishing demand planning as a key business tool. Demand Planners often make the mistake of thinking that the value-proposition of forecasting is self-evident, when in fact it must be clearly explained. Without explaining the “why,” stakeholder buy-in and executive sponsorship will remain elusive. Here I explain how to reframe our own perception of forecasting to change the way others perceive us and our field and, critically, how we must embrace the change management element of our roles if we are to ensure forecasting becomes integrated into our businesses.