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Making Predictions

By Mel Duvall  |  Posted 05-15-2002 Print

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Better forecasts come from increased visibility—looking as deeply as possible into both the supply and demand sides of the equation. The "perfect" forecasting process would feed up-to-the-minute data from demand-side sources, and then take into account such external factors as the competition and the impact of major events, as well as internal factors like product lifecycle plans and marketing. But some degree of subjectivity is essential to ensure that the data's decisions make sense.

SOURCE: DR. HAU LEE; CIO INSIGHT



 

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