IBF On Demand

IBF On Demand sponsored by Arkieva, your one-plan S&OP software. Learn more about Arkieva's innovative approach to forecasting here: http://bit.ly/business-forecastingThis week I talk to Jonathan Karelse of North Find Management about how I am 100% perfect and other people are biased and wrong.02:37 I'm not biased but you definitely are 06:00 Jonathan's research into identifying bias in Demand Planners08:34 The Dunning Kreuger effects10:11 The representative heuristic 11:11 The availability heuristic 12:46 Intertemporal discounting 13:44 The shocking extent to which people are biased14:20  An example of the framing effect/anchor bias19:15 Overconfidence - the most insidious of all biases 21:40 Cluster illusion - the Achille's Heel of Demand Planners23:48 How to overcome our own biases 28:40 Don't add or use what cannot be measuredShow less Support the showTo sign up for regular updates and the latest research, events, articles, podcasts and more from the Institute of Business Forecasting & Training, visit www.ibf.org

01:25 www.demand-planning.com, the leading resource for Demand Planners02:48 demand planning and inventory management04:44 The reasons to hold inventory beyond your current lead times06:21 When increasing inventory decreases costs10:41 Balancing cost, cash and service13:47 Calculating safety stock25:15 Improving your inventory with IBF consultingSupport the showTo sign up for regular updates and the latest research, events, articles, podcasts and more from the Institute of Business Forecasting & Training, visit www.ibf.org

IBF On Demand sponsored by Arkieva, your one-plan S&OP software. Learn more about Arkieva's innovative approach to forecasting here: http://bit.ly/business-forecasting Get your IBF membership: https://ibf.org/ibfmembership01:28 Forecast analyst and demand planning roles are in high demand02:40 Colleges are not preparing students for demand planning05:50 What an IBF chapter is08:38 How IBF chapters at bridge the gap between theory and practice10:15 Leveraging IBF chapters for networking 12:15 Why a UC Berkeley student set up an IBF chapter13:45 The benefit of diversity of ideas from different industries16:23 The disconnect between the academics and realities of demand planning19:50 Advice for students coming into the world of demand planning21:15 Soft skills for more technical students entering the workplace25:58 How hiring managers can help universities train the new generation of demand plannersSupport the showTo sign up for regular updates and the latest research, events, articles, podcasts and more from the Institute of Business Forecasting & Training, visit www.ibf.org

IBF On Demand sponsored by Arkieva, your one-plan S&OP software. Learn more about Arkieva's innovative approach to forecasting here: http://bit.ly/business-forecasting​Check out IBF's events (face-to-face and virtual): https://ibf.org/forecasting-and-plann...​Become an IBF member: https://ibf.org/ibfmembership​Check out Jennifer's article in the Journal of Business Forecasting: https://ibf.org/knowledge/jbf-article...02:15 Getting the younger generation into demand planning03:57 Perspectives from the younger generation in demand planning08:08: Tips for starting your first demand planning job - knowing product lines09:50 Tips for starting your first demand planning job - building relationships to get the data you need10:41 Tips for starting your first demand planning job - learning executive communication13:42 Networking tips15:33 Improving communication skills if you're more analytical 18:08 What to look for in a new role and boss20:40 Where students and graduates can find information about the field22:30 How to be attractive to employers in demand planning/supply chain29:10 Advice for young people to succeed in this field - build you brand and take risksSupport the showTo sign up for regular updates and the latest research, events, articles, podcasts and more from the Institute of Business Forecasting & Training, visit www.ibf.org

IBF On Demand sponsored by Arkieva, your one-plan S&OP software. Learn more about Arkieva's innovative approach to forecasting here: http://bit.ly/business-forecasting​Check out IBF's events (face-to-face and virtual): https://ibf.org/forecasting-and-plann...​Check out Arkieva at www.arkieva.comCheck out IBF at www.ibf.org and www.demand-planning.com00:00​ If you forecast a sale but you're out of stock, did the sale actually happen?01:11​ Unconstrained forecasts vs constrained forecasts05:15​ When do constraints become part of the forecast?08:50​ The slushy zone11:11​ What kind of constraints to add in to the plan?12:35​ Is changing consumer behavior a constraint?15:35​ Demand shaping16:42​ How to keep up with the speed of change today18:35​ What if scenarios 21:00​ Where to incorporate constraints in the S&OP process25:30​ It all depends what the purpose of the forecast isSupport the showTo sign up for regular updates and the latest research, events, articles, podcasts and more from the Institute of Business Forecasting & Training, visit www.ibf.org

IBF On Demand sponsored by Arkieva, your one-plan S&OP software. Learn more about Arkieva's innovative approach to forecasting here: http://bit.ly/business-forecasting​.Become an IBF member: https://ibf.org/ibfmembership01:18 Why data visualization is so important for demand planners02:44 Introducing Kate Strachnyi of Datacated 05:17 How to choose the right visualization for your data set07:04 Tips and tricks for communicating data10:23 Don't visualize something just because you can11:43 The role of text to use in data visualizations 14:49 What tools do you need?15:54 BINGO Analysis16:24 Visualization in Excel18:55 Pitfalls to avoid in data visualization 20:30 The best place to start with data visualization for demand forecasting23:06 Data visualization is for you, not just your audience25:00 Resources available at Datacated to help demand planners and forecastersSupport the showTo sign up for regular updates and the latest research, events, articles, podcasts and more from the Institute of Business Forecasting & Training, visit www.ibf.org

BF On Demand sponsored by Arkieva, your one-plan S&OP software. Click here for an excellent free webinar on securing S&OP investment: http://bit.ly/bram-business-case​Benchmark your company's S&OP maturity with IBF's free-to-use S&OP maturity model. Get recommendations to improve specific areas of your process and progress to the next stage in your S&OP evolution. Try it now for free: https://bit.ly/33BiLSE​Found out more about IBF at www.ibf.orgGet Demand Planning insight at demand-planning.com02:12​ Why are we doing this podcast?03:44​ What are the basic KPIs should be included in the demand review?08:02​ What does a best-in-class demand planning process look like?11:55​ How do you justify hiring a demand planner to executives?17:30​ How can I explain bad KPIs?22:25​ How should I approach data cleansing? 20:21​ Did you accurately forecast sales of your Predictive Analytics book?​Support the showTo sign up for regular updates and the latest research, events, articles, podcasts and more from the Institute of Business Forecasting & Training, visit www.ibf.org

IBF On Demand sponsored by Arkieva, your one-plan S&OP software. Learn more about Arkieva's innovative approach to forecasting here: http://bit.ly/business-forecasting​ ​ I interview John Davis, VP of Finance at Tempur Sealy, to discuss how and why Demand Planning and Finance should use S&OP to work together. Virtual FP&A Conference June 16-18 do you want to speak at this leading event? Express your interest here and we'll get back to you: https://www.surveymonkey.com/r/CMJ9VC6​ Eric's new Book, Predictive Analytics For Business Forecasting which is available for purchase at http://bit.ly/predictive-analytics-book04:33 How demand planning and Finance worked together at Tempur Sealy06:50 What Finance wants to get from S&OP08:55 One number attitude at Tempur Sealy13:37 How S&OP helps with product launches by telling a story with data15:35 How the VP of Finance at Tempur Sealy built the Finance organization to collaborate cross-functionally 18:26 What FP&A does for the business22:15 Do we need a yearly budget?26:00 What demand planners, supply planners and data scientists need to know about FP&ASupport the showTo sign up for regular updates and the latest research, events, articles, podcasts and more from the Institute of Business Forecasting & Training, visit www.ibf.org

IBF On Demand sponsored by Arkieva, your one-plan S&OP software. Learn more about Arkieva's innovative approach to forecasting here:Eric interviews his most illustrious guest yet - himself. Eric dives into Eric's new Book, Predictive Analytics For Business Forecasting which is available for purchase at http://bit.ly/predictive-analytics-book04:13 Interview Eric Wilson, author of Predictive Analytics For Business Forecasting 04:42 What is Demand Planning 2.0?06:00 What has caused predictive analytics to become a top right priority in 2021?07:54 How does Covid-19 relate to Predictive Analytics? 10:45 Who is Predictive Analytics For Business Forecasting for?19:30 Predictive Analytics models 27:40 Differences between Business Intelligence, Business Forecasting, and Machine Learning29:10 Is Predictive Analytics replacing time series forecasting?Support the showTo sign up for regular updates and the latest research, events, articles, podcasts and more from the Institute of Business Forecasting & Training, visit www.ibf.org

Interview with Dr. Larry Lapide, MIT Research Affiliate, former demand planner, and columnist in the Journal of Business Forecasting.04.30 Forecasting downturns in your business 06.30 Communicating downturns to executives08:50 Techniques to deliver bad news to business partners11:00 Know your facts, figures and assumptions15:00 Handling the human side when lower forecasts will result in layoffs 17:20 Provide estimate of forecastability/risk profile 18:50 Stay out of politics20:40 Advice for people new to demand planningSupport the showTo sign up for regular updates and the latest research, events, articles, podcasts and more from the Institute of Business Forecasting & Training, visit www.ibf.org