In this presentation, we will show how and why POS (Point-of-Sales) data provides more accurate forecasts, more market intelligence, and enables you to take full advantage of the market when it is hot, and minimize the risk when it is not.
In this declining economy, it is more important than ever to improve forecasts, reduce lead-times, minimize risks and maximize opportunities. We will demonstrate how to determine with POS data the expected market of your products, the success or failure of your new launch from a few weeks of data, whether your customer’s inventory is in or out of balance, whether variations in demand are coming from a change in the consumer behavior or because of what your customer (retailer) is doing. We will also show the challenges that come with the POS data, and what the future holds for demand planning and forecasting with this type of data.
Attendees will learn:
- How to Improve Forecasts by using POS data
- How to overcome challenges that we encounter with POS data
- How to balance inventory, eliminate the bull-whip effect, and react to variations in demand.
About Dr. Chaman L. Jain, Professor, The Tobin College of Business, St. John's University and the Editor of "The Journal of Business Forecasting"
Dr. Chaman L. Jain is a Professor at the Tobin College of Business, St. John's University and the Editor of The Journal of Business Forecasting. His broad experience in demand planning & forecasting has spanned over 25 years. He has published more than 100 articles and authored, edited and co-edited seven books on business and forecasting. Dr. Jain has also served as a consultant for businesses including Saudi Aramco, Jockey International, Sweetheart Cups, Ceco Door Products (A United Dominion Company), Eastman Kodak, Brown and Williamson, Hewlett Packard, Alexander Sales Corp., Billgore Groves, SABIC, and DU-Emirates Integrated Telecommunications Co. (Dubai).
The Journal of Business Forecasting is a publication of the Institute of Business Forecasting and Planning (IBF). The IBF is an objective membership organization recognized worldwide as the premier full-service provider of demand planning & forecasting education, benchmarking research, training, certification, world-class conferences, and advisory services. For almost three decades, the IBF has been helping businesses improve their forecasting and demand planning performance in an effort to enhance growth and improve their bottom line.
Details for their upcoming event, Demand Planning and Forecasting: Best Practices Conference can be viewed at www.ibf.org/0904.cfm.
