How Much Progress Have We Made in Improving Forecasts
IBF's Research Report #8

Over the last two decades or so, a number of developments have taken place; some helped to improve forecasts, and others made them worse. The advancement in computer technology improved our computing power and enabled us to use even the most sophisticated algorithms, which were previously not possible. The development of enterprise data warehouse technology enabled us not only to store all the data at one place but also made easier to access. The process plays an important role in forecasting, which has progressed from Silo Forecasting (SF) to Consensus Forecasting (CF) to Sales & Operations Planning (S&OP) to Collaborative, Planning, Forecasting and Replenishment (CPFR).

Table of contents:

  1. Characteristics of Forecasting Errors
  2. Findings
  3. All Industries Combined
  4. Consumer Products
  5. Food & Beverages
  6. Healthcare
  7. Industrial Products
  8. Retail
  9. Telecommunications
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