Demand Planning — MAPE and bias to ensure a comprehensive understanding of accuracy

When analyzing forecast performance, practitioners should carefully assess both MAPE and bias to ensure a comprehensive understanding of accuracy and underlying trends.

Accurate and timely demand plans are a vital component of a manufacturing supply chain. Inaccurate demand forecasts typically would result in supply imbalances when it comes to meeting customer demand. Forecast accuracy at the SKU level is critical for properly allocating resources.

Demand Planning Net specializes in helping businesses improve their planning across their Value Chain. We provide consulting services and solutions implementation for Demand Planning, Sales Forecasting, Integrated Business Planning (IBP), Sales and Operations Planning (S&OP), and Supply Chain Optimization.

Sales Forecasting is a key business process that enables the Sales teams to plan their promotions, optimize their spend and determine a volume forecast for key sales & business decisions. Sales Volume Forecasts are a key input into Demand Planning and S&OP.

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[embed]MAPE, WMAPE and Forecast Bias MAPE and Bias - Introduction Mean Absolute Percentage Error (MAPE) is a widely used metric for evaluating forecast…demandplanning.net