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Demand forecasting & scheduling

The Real Value

Forecasting is needed for almost every business, yet it is one of the hardest things to do! Many companies in the absence of an overall forecast end up with a proliferation of local forecasts.  Purchasing staff buy what they think is needed.  Production staff buy new equipment based on their estimate of what is needed. People are recruited on the basis of what various departments believe will be required.  Budgets are based on some kind of financial forecast and so on. The problem is that these local forecasts are all likely to be different.

As most businesses cannot avoid forecasting, it makes sense to have one agreed forecast that everyone works to. Furthermore, by using robust forecasting methods companies are more likely to achieve higher forecast accuracy levels than with several local forecasts.

Similarly, good scheduling is a rarity in most companies and is a key area of the business which is often overlooked. However, good scheduling means that idle time on equipment is kept to a minimum whilst completing jobs on time for customers, thus maximising customer satisfaction and return on investment simultaneously.

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