Statistical forecasts are often used as the baseline forecast for demand planning. Due to this reason, statistical forecast accuracy is critical to improving the entire demand planning process. Use this easy step by step statistical forecast technique guide to help you get started with improving your forecasts.
![[Infographic] Forecast Improvement Steps: Simulate, Measure, Refine](https://arkieva.com/wp-content/uploads/forecast-improvement-steps-infographic-1-720x542.jpg)
The forecasting process in demand planning sets the stage for all other planning activities including bill of material (BOM) and finished goods inventory optimization. Demand forecasts can also affect perfect order fulfillment rates, customer satisfaction and ultimately bottom line results.
![[Simulation Results] How Does a Change in Demand From a One-Time Event Impact Future Forecast?](https://arkieva.com/wp-content/uploads/statistical-forecasting-simulation-results-sm-1-720x540.jpg)
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