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If something is not measured, it will never improve. To improve forecast performance, we must have metrics in place to measure and monitor them. There will be inherent volatility...
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Very often questions arise how to convince upper management that the forecasting function is absolutely necessary. By calculating
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Designed to deal with sporadic demand (no seasonality) with a two-step process. The main goal is to provide a good safety stock, resulting in a situation where there is neither over or under stock. This is accomplished by considering two aspects of the data: the demand size and the…
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