Benchmarking sales forecasting performance measures

Article Abstract:

A study examining the strategies being used by companies in calculating forecast accuracy revealed that mean absolute percent error (MAPE) is the most popular and accurate method. Majority of the consumer product firms utilizing MAPE reported forecast accuracy across industry as 90%, corporate as 96%, SBU as 90%, SKU as 77%, and locations levels as 67%. Fifty percent of MAPE users used forecast as the denominator, while the other half used the actual as the denominator.

Research & Development, Scientific Research and Development Services, Forecasting, Research, Performance, Measurement, Research institutes, Benchmarks, Benchmarking

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Revisiting top-down versus bottom-up forecasting

Article Abstract:

Top-down and bottom-up forecasting techniques have their respective merits and may be used to generate optimal forecasts if planned for and implemented properly. A hybrid approach using the two techniques may be used in cases where one or the other fails to generate solutions and companies should bear in mind that deciding on either system requires accurate analyses of all facets of the business.

Financial Forecasting, Analysis, Forecasting, Prediction theory

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Sales forecasting as a knowledge management process

Article Abstract:

Issues concerning the operativity of knowledge management within the context of sales and business forecasting are discussed. It is emphasized that knowledge management consists of data, knowledge and information in collaborative environments between business participants.

Methods, Management, Knowledge acquisition (Expert systems)

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