CMAF Friday Forecasting Talk: What do we need to know about Forecast Value Added?
Friday 27 November 2020, 2:00pm to 3:00pm
Venue
OnlineOpen to
Alumni, External Organisations, Postgraduates, Prospective Postgraduate Students, Public, StaffRegistration
Free to attend - registration requiredRegistration Info
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Event Details
Forecast value added is a phrase now very much part of the organizational understanding needed to improve forecasting practice and to select between alternative forecasting methods.
One of its more important applications is to understand the improved accuracy achieved by the common practice in demand planning of adjusting a statistical forecasting method based on information gathered through the sales and operations planning process. Various past studies have analysed the results of this adjustment process. This presentation considers a range of data sources to provide insight into the circumstance where gains have been achieved. We identify the key questions facing any organization where FVA of expert judgmental adjustment is part of the process. But be warned, the conclusions will not be unequivocal; FVA is a complex area and there remains a lot to be learnt and much to be done if organizations are going to develop effective demand planning processes.
Speaker
Lancaster University Management School
I am currently working in the area of supply chain forecasting: specifically the interpretation of information and the use of user-generated content.
Contact Details
Name | Teresa Aldren |
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