Supply Chain Masterclass Series Part 3: Managing History Correction, Forecast Performance and Safety Stocks. A Focus on Seasonal Products.
Read our latest Masterclass paper to learn how to use calculated residuals for correcting history, managing forecast performance and setting safety stocks.
About this Whitepaper:
In the first Masterclass of this series, ‘3 Magic Numbers for Demystifying Demand Patterns’, we explored how the core statistics of mean, slope and standard deviation can reveal much about demand patterns.
In the second Masterclass, ‘Managing Products with Seasonality and Trend’ we explored why these core statistics cannot be taken at face value if datasets are highly trending or seasonal and why it is necessary to isolate trend and seasonality to identify the true variability, known as the residual.
In this final Masterclass, we will explore how to use these calculated residuals for correcting history, managing forecast performance and setting safety stocks.