Supply chain management review · 2002 · 20 citations · 0 references
ManagementOperations ManagementSupply Chain ManagementDemand ForecastingForecastingTime Series AnalysisForecast EvaluationForecasting MethodsStrategic ForecastingTime Series ForecastingForecast ValueForecasting For OperationsForecasting SystemsSupply Chain Forecasting
SUBTITLE: THERE'S AN OFTEN-QUOTED SAYING: THE ONLY THING CERTAIN ABOUT A FORECAST IS THATIT IS ALWAYS WRONG. AND YET, COMPANIES SPEND A GREAT DEAL OF TIME AND RESOURCES TRYING TO PREDICT AS ACCURATELY AS POSSIBLE THE FUTURE DEMAND OF THEIR SUPPLY CHAINS. IN SPITE OF THIS SIGNIFICANT INVESTKENT, MANY STEPS AND PARTICIPANTS FAIL TO MAKE THE FORECAST ANY BETTER -- AND SOME ONLY SERVE TO MAKE IT WORSE. IT'S TIME FOR COMPANIES TO STOP WASTING THEIR TIME AND MONEY AND START ELIMINATING FORECASTING ACTIVITES THAT FAIL TO ADD VALUE.