Demand Forecasting knowledge

These topic pages aim to educate, challenge and inform.  Where applicable, they illustrate how Prophecy Demand Planning software helps address the issues covered.  However, the intention is to inform, the articles are mostly product-neutral, and other solutions are available (though obviously we believe Prophecy is best).

5 methods for measuring demand forecast accuracy

Forecast accuracy formulae for measuring demand forecast accuracy...

Demand forecasting vs. Sales forecasting

The difference, and what that means for your forecasting processes...

Forecastability - using the best forecast methods for different items

How to categorize your skus based on their demand profile. Apply a different approach to each type...

Applying the Pareto rule to make better forecasts

Use the Pareto (80/20) concept to improve your forecast accuracy...

6 key components of an integrated demand forecasting solution

Here's what to look out for when designing an integrated demand forecasting solution for your business...

Statistical forecasting - for and against

When you should, and more importantly shouldn't use statistical forecasting in your demand forecast...

Statistical forecasting models

Reference materials for statistical forecast models supported in Prophecy ...

Automated forecast adjustments

Apply rules to adjust short term forecasts based on recent actuals versus forecast...

Making the forecast conform to your business rules

How do you catch missing prices or costs?  How do you ensure forecasts are multiples of pallet quantities or minimum order quantities?...

Forecasting guidelines for coping with the pandemic

Recommendations for forecasting during 'black swan' events...

Approaches to Demand Forecasting

What should you consider when designing your forecasting process and selecting a software solution?...

"Why do we need specialised software for our demand forecasting process?

The process to sales  forecasts per sku is a complex, multi-user exercise...

Judgemental forecasting

Discussing the role of judgemental forecasting and its implications on forecasting software..