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URGENT: Demand Planners


What is difference between Forecast Attainment and Forecast Bias. I understand the defination but need exact difference. Explaination with exmple would be more beneficial

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  • Sep 17, 2014 at 12:23 PM

    Hello,

    Forecast Attainment: How much of the forecast we actually attained, in essence a comparison of Sales to Forecast from a prior period.

    Forecast Bias: Sum of signed forecast errors over either actual or forecast.

    Forecast Attainment = (Actual i / Forecast i) X 100

    For example, if you sale 150 CS and your forecast was 170 CS, then your forecast attainment will be 88.24%

    Forecast Bias:

    Look at this table:

    itemsForecastSalesError1191722853310914222205131126910-17151328963918153101413111151141218180SUM17015020

    The Bias would be 20/12 = 1.67 (20 is the sum of forecast error) and 12 is the number of items (could be SKUs considered).

    Kind Regards,

    Mariano

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