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The art of demand forecasting for businesses can be incredibly tricky to get right at the best of times. Due to the COVID-19 pandemic, making accurate sales forecasts for 2020-2021 is a hard challenge for professional predictors.

Seemingly random local lockdowns, rapid changes in consumer behaviour and spending, an eccentric and hard-to-predict recession, and strange patterns of investment have made for a unique and chaotic landscape. Software and analysts rely on past data to produce an accurate picture of the future. When something unprecedented or unexpected happens, a rigid algorithm or basic model struggles to cope.

Continue reading “How to Make your Demand Forecasts More Accurate and Effective”

Being able to predict sales figures and strategising for periods of peak customer demand is central to a business’s success, as effective planning ensures an uninterrupted supply chain, low costs, competitive prices, and satisfied customers. Poor planning damages operations, restricts growth, and harms your reputation in the marketplace. Accurate forecasting is, therefore, essential. If your business model is due a review, take time to consider the potential implications of poor forecasting, to ensure your organisation doesn’t fall into the trap of not anticipating the future accurately.

Continue reading “What Are The Implications Of Poor Forecasting For My Business?”

This year, a large number of British B2C retailers will be looking to make up for lost time with a strong Q4 performance to offset months of poor trading and unprecedented falls in early-year customer spending.

However, a small, annoying, infectious, obnoxious being is still out there threatening Yuletide cheer – and it’s not one dreamt up by Dr Seuss. Continue reading “Don’t Let the Grinch Steal Christmas: Maximise your Post-Covid Xmas 2020 Retail Opportunities with Reflex Planning”