Download the Forecast Accuracy Calculation in Excel here: https://abcsupplychain.com/forecast-accuracy-formula-excel/
Join my Demand Forecasting WORKSHOP (free): https://abcsupplychain.com/free-course-demand-forecasting/
How to Track & Improve Forecast Accuracy? 🎯
In my new YouTube Video, I released a step-by-step tutorial with 4 straightforward forecast accuracy formulas in Excel.
No matter if you forecast sales, new product launches, production demand...
My goal is for you to improve your forecast accuracy.
And make it simple to boost your performance.
As always, you can download an Excel template to start measuring forecast accuracy immediately with your company 🚀
Enjoy this video, and let me know how you track and improve your forecasting accuracy KPIs!
▬▬▬▬▬▬▬▬▬▬▬ CHAPTERS ▬▬▬▬▬▬▬▬▬▬▬▬
00:00 Intro
00:26 Why is Forecast Accuracy Important?
01:55 Have a Forecast
03:25 Define a Forecast Horizon
05:25 Save Historical Forecasts & Demand
08:24 Choose a Calculation Method
10:05 BIAS in Excel
11:52 MAE in Excel (Mean Absolute Error)
14:08 MAPE in Excel (Mean Absolute Percentage Error)
15:44 RMSE in Excel (Root Mean Square Error)
18:15 Forecast Accuracy Method Comparison
20:16 How to Improve Forecast Accuracy?
►Free Supply Chain Management Masterclasses: https://abcsupplychain.com/free-supply-chain-management-masterclass/
#demandforecasting #forecastaccuracy