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Hello and welcome
to today's session,
Understanding the
Forecasting Process.
My name is Misty Eldridge,
and I've been in the planning
and forecasting arena
for well over 20 years
in a lot of different
companies of different sizes.
Today, we're going to take
a look at the elements
that go into an end-to-
end structured
forecasting process,
from data to collaboration
and consensus,
and things to consider when
presenting the forecast.
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Our agenda is: we're going to
talk about our process overview,
we're going to dig
into the details
to understand, what,
who, where, when, and why
in the forecast process.
Then, we're going to talk about
the demand review or
the consensus process.
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When it comes to the
forecasting process,
we all have some
pretty common concerns
and issues about that process.
Stakeholders and
customers will likely
have different expectations
that they manage.
they might need
different timeframes
or have different forecast uses,
and may even have
different priorities
for use out of the forecast.
Some examples of some of
those concerns might be,
what approach do we
take for forecasting?
Should we do a
bottoms-up or top-down?
Or should we do a
middle-out approach?
What kind of forecast
do you need?
Do we need a strategic forecast,
a tactical or maybe a little
more operational
and executional?
What are we trying to forecast?
What is the horizon required?
What are the acceptable
levels of error?
What are the expected
error levels?
What metrics should we use?
Which product or service
gets more attention?
What level do we
need to forecast?
Do any of the answers change
depending upon who is
using the forecast?
Many of you may already
have a forecasting process,
