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This presentation describes the process of evaluating forecast
accuracy, the pros and cons of different accuracy metrics, and
the time-lag with which accuracy should be measured.
A method to identify and track forecast bias is also discussed.
Using these measures of forecast accuracy and bias, a precise
safety stock calculation can be made. Here, we review some scientific
methods of setting safety stock strategies that are dependent
on the history of forecast accuracy by sku and that controls for
forecast bias.
Download the presentation here:
Tracking
and Measurement of Forecast Accuracy and Safety Stock Planning
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