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Production forecasting frequently asked questions and examples: Difference between revisions
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The examples below are motivated by a set of frequently asked questions (FAQs), in turn highlighting common errors seen in forecasting, and are summarized by learning points that demonstrate why a consistent forecast definition is a pre-requisite for a lean forecasting process, applicable to resource estimation, business planning and decision making. | |||
It is not a requirement to use these definitions or the proposed forecasting principles but it is considered best practice; the examples will show that, the closer a company applies these definitions and principles, the leaner the overall forecasting, resource estimation and business planning process will be. Lean in this context means “getting it right the first time” and avoiding waste and unnecessary re-work. | |||
Revision as of 13:36, 15 March 2016
The examples below are motivated by a set of frequently asked questions (FAQs), in turn highlighting common errors seen in forecasting, and are summarized by learning points that demonstrate why a consistent forecast definition is a pre-requisite for a lean forecasting process, applicable to resource estimation, business planning and decision making.
It is not a requirement to use these definitions or the proposed forecasting principles but it is considered best practice; the examples will show that, the closer a company applies these definitions and principles, the leaner the overall forecasting, resource estimation and business planning process will be. Lean in this context means “getting it right the first time” and avoiding waste and unnecessary re-work.