Can you fail to predict demand even with a sophisticated statistical forecasting solution?
In today’s world where technology and globalization are the driving force of the future, simply by drawing inferences from past performance with sophisticated statistical tools isn’t adequate to design a demand plan for your business.
For a global business environment where demand signals are dynamic and complex in nature due to multiple SKU’s, wide distribution networks, multiple point of sales, varying geographical locations, etc., a huge amount of diverse and complex data is generated which needs to be effectively incorporated in the Demand Planning process. This necessitates teams across multiple geographical regions to contribute to the overall demand planning process.
Hence, for global businesses to effectively stay ahead of the competition, it is imperative that their Demand Planning process is fundamentally collaborative.
Here’s why having just a statistical forecasting solution might not give you an accurate forecast.
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