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Benchmarking Software Packages and Systems

By: Jain, Chaman L. | The Journal of Business Forecasting, Winter 2005 | Article details

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Benchmarking Software Packages and Systems


Jain, Chaman L., The Journal of Business Forecasting


Given the demands on professional forecasters with regard to the number of items to be forecasted and the continual quest for improvements, it is virtually impossible to do them without the aid of computer or a proper forecasting software/system. Today's practitioners must prepare forecasts covering thousands of Stock Keeping Units (SKUs), which are broken down by regions, distribution centers, marketing channels such as food and drug stores, and customers. The increasing globalization of markets has further added to the responsibility of a forecaster. In some companies, the forecaster is required to prepare forecasts for both domestic and foreign markets. In recent years, a large number …

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