Wednesday, May 22nd, 2019
1:00 PM Workshop I: A practical approach to improve demand forecasting accuracy from 70% to over 85%: Sharing experiences and lessons learned from the world's largest dairy farm company
Volume and products have been the key areas of focus when it comes to forecasting, yet it’s no longer sufficient in today’s competitive low margin retail industry. It is vital for supply chain managers to take into consideration the bottom line and financial impacts on the business. This insightful and practical session will provide key factors for forecasting accuracy supported by real life case studies.
•Establishing a forecast with finance on margins and net profits to make sure you have the accurate level of product mix
•Understanding the importance of differentiating between gross & net volumes and their impact on business
•Stepping ahead of the classical method of forecasting on a quantity basis to financial forecasting
•Forecasting for new products: a bottom up approach to ensure any potential risk is considered and mitigated