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Lean Manufacturing Transformation

Demand Forecasting
Part  1 of  9

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Lean Manufacturing Articles

Forecasting is your first line of defense in optimizing purchasing, shop floor execution, and everything in be­tween to get the best possible results and customer ser­vice at the lowest possible cost, yet it is ignored, underutilized, misunderstood, and downright hated at many companies. Forecasting and frustration seem to have become synonymous "F" words. We want as few changes as possible to stabilize execution and firm plan schedules, but the reality is that we also need to keep it updated to keep pace with ever-changing market and customer expectations.

Some may even doubt the need for a forecast with execution techniques such as Just-in-Time and lean manufacturing. But the reality is that someone, some­how, somewhere in that supply chain is making some type of estimate of future needs, and that IS a forecast. Whether it's a simple reorder point (you are, in fact, fore­casting that demand will remain unchanged over the lead time) or a buffer stock (if you could build to order 100 percent on time ALL the time, you wouldn't need it, now would you?), to a statistical forecast, the reality is that the world won't wait on you to have the product available when the marketplace is full of competition.

This paper will give you practical advice on the cru­cial factors for success that will improve profits and customer service. You'll learn fine points about ev­erything from selecting and setting up the right sys­tem with the right data, to what you need to know to forecast well, what's important about measurements and variances, and how to turn them into even greater opportunities.

To Be Continued

For balance of this article, click on the below link:

Lean Manufacturing Articles and click on Series 15

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