Forecasting Fundamentals

This book is for everyone who wants to make better forecasts. It is not about mathematics and statistics. It is about following a well-established forecasting process to create and implement good forecasts. This is true whether you are forecasting global markets, sales of SKUs, competitive strategy, or market disruptions.

Today, most forecasts are generated using software. However, no amount of technology and statistics can compensate for a poor forecasting process. Forecasting is not just about generating a number. Forecasters need to understand the problems they are trying to solve. They also need to follow a process that is justifiable to other parties and be implemented in practice. This is what the book is about.

Accurate forecasts are essential for predicting demand, identifying new market opportunities, forecasting risks, disruptions, innovation, competition, market growth and trends. Companies can navigate this daunting landscape and improve their forecasts by following some well-established principles.

This book is written to provide the fundamentals business leaders need in order to make good forecasts. These fundamentals hold true regardless of what is being forecast and what technology is being used. It provides the basic foundational principles all companies need to achieve competitive forecast accuracy.

About the Author

Dr. Sanders is an internationally recognized thought leader and expert in forecasting and supply chain management. Dr. Sanders is the distinguished professor of supply chain management at the D’Amore-McKim School of Business at Northeastern University, and holds a PhD and MBA from the Fisher College of Business at The Ohio State University. Dr. Sanders has held a range of leadership roles in both academic and professional organizations and has served on numerous executive boards. She has provided training and consulting to a range of Fortune 500 companies, and is a frequently called upon keynote speaker and expert witness. Dr. Sanders has authored over one hundred scholarly works and has served on the editorial boards of prominent journals.