Operational Forecasting

Organizations use operational forecasting to manage demand for products or services in the short term. Done well, operational forecasting helps ensure an organization has the right amount of supply to meet demand. Done poorly, operational forecasting can lead to excess inventory or shortages that can hurt an organization’s bottom line or reputation. This article summarizes insights from author and forecasting SME Steve Morlidge, Ph.D., related to fundamental concepts, common pitfalls, and best-practices for operational forecasting that can help an organization drive better bottom-line results.