by Jon Schreibfeder | Jun 15, 2017 | Technology
On an average workday, I receive five to 10 emails advertising a new technology. Each of these “revolutionary advances” promises to: Lower operating costs Increase sales Improve profitability How do you decide which of these opportunities is a worthwhile investment? ...
by Jon Schreibfeder | May 17, 2017 | Forecasting
Maintaining a high level of customer service is primarily dependent on when you reorder a product. For example, let’s say you sell two pieces of a product per day, and the item has a seven-day lead time. That is, it takes seven days to receive a product once it has...
by Jon Schreibfeder | Apr 15, 2017 | Forecasting, Stocking Decisions
What Affects Forecasts Other Than Past Usage Most computers systems calculate forecasts of future demand based on past sales or usage. The theory is that what you sold or used in the past is a good indication of what you will sell or use in the future. But there are...
by Jon Schreibfeder | Mar 15, 2017 | Forecasting
Determine the Best Forecast Formula Last month, we discussed the fact that a single forecast formula will not accurately predict future usage for all your stocked products. But how do you determine the best forecast formula to use for each item? We have found that...
by Jon Schreibfeder | Feb 15, 2017 | Forecasting
Understanding the Elements of a Forecast A demand forecast is a prediction of the quantity of a specific product that will be sold or used in an upcoming time period (usually a month). The accuracy of your forecast is a determining factor in whether or not you will...
