Forecasting is hard. Now, with ever evolving consumer demands and global macroeconomic uncertainty, it’s even harder.
Key Takeaways
- 91% of respondents indicate that demand forecasts are on average below 90% accurate
- 8% of respondents are very satisfied with their organization’s demand forecast accuracy
- 45% of respondents missed revenue opportunities due to inaccurate forecasts. Inaccurate demand forecasts also lead to decreased profitability (42%) and decreased customer satisfaction (39%)
Forecasting is hard. Now, with ever evolving consumer demands and global macroeconomic uncertainty, it’s even harder.
Since 2020, 98% of executives have faced detrimental effects due to bad forecasts. Material shortages. Missed revenue opportunities. Decreased customer satisfaction and profitability.
But there is a path forward: supply chain flexibility. Discover key insights:
- The common causes of forecast challenges
- The business impacts of inaccurate forecasts
- Steps to meet—and overcome—these challenges
- Methods to increase customer satisfaction and reduce risk through supply chain flexibility
