For any economic activity, its main objective is always to fully satisfy the needs of its end customer . For this reason, the implementation of the forecast for your supply chain turns out to be of utmost importance . That is why no effort should be spared for the company to plan in the best way the development of a service or product.
If you are a small or medium entrepreneur (SMEs), you know better the implementation of this type of management will redound to benefits for your company.
It is vital before talking about the forecast, we highlight the importance of having a supported supply chain . And under the premise of satisfying the needs of your customers, the phases of your supply chain must achieve the following tasks:
Given the need to have a supply chain capable of fulfilling these tasks, the importance of good planning is obvious; and it is at this time that the forecast comes to fulfill its role.
The forecast is an instrument that allows, through statistical analysis and estimates, to forecast certain events within an economic activity. It will help that, with the support of well-supported data, decisions can be made and processes or projects in a business can be advanced .
To know the requirements of your customers, different challenges must be overcome in the supply chain . Maintaining an adequate supply of raw materials, avoiding deficiencies in inventory and developing efficient logistics for its distribution are some of these aspects.
The application of the forecast allows us to find ways to optimize these processes. And it does so through at least two basic methods:
How big is your company? Has there been a recent change in your supply chain? Do you want to forecast your sales for a year or less? These are examples of some questions to ask yourself before determining which forecasting method you want to implement to optimize your supply chain. Then you can follow these steps to implement the forecast:
In conclusion, the implementation of the forecast in your supply chain will help your business to be more competitive, profitable and productive . Thus, you will be able to foresee the perception and vision that your clients have of your company and finally, to achieve their loyalty. At Looper we have the resources to be your best ally in the pursuit and fulfillment of this goal.
The post THE IMPORTANCE OF THE FORECAST FOR YOUR SUPPLY CHAIN first appeared on LOOPER.
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