Critical Impacts of Forecast Errors Requires Kaizen Lean Manufacturing Process Review
The recent Forecast Errors newsletter reviewed a comprehensive research about demand forecasting process evaluation. Fifteen Brazilian companies were extensively examined including the critical impacts of forecast errors. The four dimensions of analysis were functional integration, application, system and forecasting errors, and the findings were that only 35% met satisfactory levels. When two-thirds of these participants are at unsatisfactory levels there is a mandatory process review in order. The authors suggest that forecasting demand is of fundamental importance to the competitiveness...
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