Implementation of forecasting metrics to improve order fulfillment and inventory velocity

Abstract

When important strategic and tactical decisions and operational plans are made based on forecast, it is imperative to have as accurate of a forecast as possible. The purpose of this project was to develop and implement forecast performance metrics to give Company XYZ a measurement tool to determine to the accuracy of the forecast they were using to build plans and make decisions. Additionally, the purpose of the project was to determine if the forecast performance metrics would increase forecast accuracy and if there was a significant correlation between forecast accuracy and inventory/order fulfillment.