Value-added forecasting.

Abstract

Long ago, the emphasis shifted away from forecasting as a competitive weapon when it became apparent that forecast error could never be eliminated. Forecasts became a necessary evil that no one wanted to claim responsibility for. It's time to clear up some of the misconceptions about forecasts and to seize the opportunity inherent in the forecasting process. It is not forecast accuracy but rather improved understanding and use of forecasting as a tool for reducing both costs and lead times that will add real value to an enterprise and can improve the results from any and all other initiatives.