It would be fair to say the art of traditional demand forecasting has been tested over the last few years and what was a reasonably straight-forward process has many now scratching their heads.
More border regulations, macroeconomics, eCommerce growth and siloed data have contributed to muddying the waters. Failing to predict demand, or poor forecasting, can bloat inventory or create stock outs and dampen a brands’ confidence in their capacity to manage without stockpiles.
But getting demand forecasting right can lead to better supplier relationships, increased customer satisfaction, and more capital to grow and scale your business without the need for surplus stock as a buffer.
Join five SME manufacturing experts as they to unpack their approach to demand forecasting and share their challenges and best practice.
Scan the highlights here:
The Experts:
Nicki Hawkins - Cost Accountant & Head of Purchasing – Ribeye Boats, Premium Leisure Boats in Dartmouth, Devon
Mark Houghton - CEO Radical Cloud Solutions, our cloud solution specialist in Zimbabwe
Katherine Rowlatt - Head of Operations for AFP Services Ltd, Business Services for Food and Drinks Brands based in Kettering
John Toon - Senior Manager, Tech Advisory Lead, Beever and Struthers - Chartered Accountants and Business Advisors in Blackburn
James Trevelyan - Business Director at Circle One Surf Co near Exeter
In this episode, the panel discuss:
4 mins – Quick fire – What does demand forecasting me to you?
8 mins – Harnessing bottom-up data
15 mins – Katherine in ePOS data and human intervention
17 mins – Correlations between predictions and cash availability - John
20 mins – Mark on data accuracy
21 mins – This is a team sport, don't let the accountant take over
23 mins - Top-down curve balls
25 mins – James’s pre-season forecast musings
28 mins – Juggling long- and short-term planning
30 mins - Nicki: Keep challenging the numbers
33 mins – How are we shielding margins? Or are we?
39 mins – ALC and FX tips from John
41 mins – Small changes can have a big impact - Nicki
44 mins – NPD and Promotions
53 mins – Supplier relationships and China insights
61 mins - One piece of parting advice for those struggling with their demand forecasting
To watch the chat or scan the take-aways
https://www.unleashedsoftware.com/blog/scr-demand-forecasting
What is Demand Planning? [The Ultimate 2023 Guide]
https://www.unleashedsoftware.com/blog/what-is-demand-planning
Our latest Cash Flow and Over Stock Report
https://www.unleashedsoftware.com/blog/cash-flow-overstock-report
Talk to one of our supply chain consultants – book a 20 min chat
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