Consumption-Based Forecasting and Planning: Predicting Changing Demand Patterns in the New Digital Economy

Charles W. Chase provides a practical and novel approach to retail and consumer goods companies demand planning process, emphasizing a demand-centric approach relying on point-of-sale and syndicated scanner data. The book showcases short- and mid-term demand sensing and focuses on disruptions to the marketplace caused by the digital economy and COVID-19, offering insights into improving demand forecasting and planning accuracy, reducing inventory costs, and minimizing waste and stock-outs.

Format: Hardback
Length: 272 pages
Publication date: 16 September 2021
Publisher: John Wiley & Sons Inc

In the realm of forecasting and demand planning, a groundbreaking new framework emerges, tailored specifically to meet the demands of the modern digital economy. Thought leader and forecasting expert Charles W. Chase unveils this innovative approach in his book, Consumption-Based Forecasting and Planning. Through his comprehensive and novel approach, Chase underscores the critical importance of adopting a demand-centric approach that relies on point-of-sale and syndicated scanner data. This shift is essential for success in the ever-evolving landscape of the retail and consumer goods industry.

The book delves into the realm of short- and mid-term demand sensing, placing a strong emphasis on the disruptions caused by the digital economy and the unprecedented challenges posed by COVID-19. It offers valuable insights into how companies can enhance their demand forecasting and planning accuracy, reduce inventory costs, and minimize waste and stock-outs. By exploring the shifting consumer demand patterns, including factors such as price, promotions, in-store merchandising, and unplanned and unexpected events, the book empowers readers to navigate the complexities of the modern marketplace with confidence.

Furthermore, Consumption-Based Forecasting and Planning showcases the application of analytics and machine learning to forecasting challenges through a series of compelling case studies. These case studies provide practical examples and strategies for leveraging these powerful tools to gain a competitive edge. Whether you are an executive, director, or manager at a retailer, consumer products company, or other manufacturer, this book will serve as a valuable resource for sharpening your understanding of how to predict future consumer demand. It will also find a place in the libraries of sales, marketing, supply chain, and finance professionals who seek to stay ahead of the curve and optimize their supply chain strategies.

In conclusion, Consumption-Based Forecasting and Planning offers a transformative perspective on forecasting and demand planning, equipping companies with the tools and insights needed to thrive in the digital age. By embracing a demand-centric approach and leveraging advanced analytics and machine learning, organizations can gain a competitive advantage, optimize their supply chain operations, and deliver exceptional customer experiences. As the world continues to evolve, this book will remain a valuable guide for those seeking to stay ahead of the curve and drive success in the retail and consumer goods industry.

Weight: 476g
Dimension: 159 x 241 x 27 (mm)
ISBN-13: 9781119809869