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 Letter from the Editor
One thing that is certain in life is uncertainty, which, as the
current pandemic has reminded us, applies to all facets of life,
particularly business. Disruptions are caused by demand and
supply shocks—either one is bad enough but when they occur
together, the results can be devastating. This is exactly what we
are experiencing with Covid-19. It has brought many dramatic
changes in the markets. Demand patterns have changed, and so
has consumer behavior. Demand for essential products skyrock-
eted, while demand for non-essentials went down sharply. More
and more consumers are now buying non-branded products
than branded ones. It has also changed where people shop; they
buy more online than in brick-and-mortar stores, prefer a curb
side pickup than going into a store, and favor next day delivery
over days/weeks of waiting.
It has also dramatically affected the supply chain. This raises
the question how to balance supply and demand during this
period of unprecedented disruption, which is the topic of this
special issue.
Disruptions are going to be the new norm, the only variable is
their intensity—sometimes mild and other times severe. Global
supply chains, the need for new products, proliferation of sales
channels, as well black swan events, mean that volatility is a
fact of life. Businesses must learn to operate in such markets.
This special issue is designed to help you navigate not only the
uncertainty you are experiencing now due to Covid-19, but to
help you establish the processes and methodologies to tackle
whatever demand and supply shocks are on the horizon.
The best way to manage disruptions is through agility and
speed—quickly identifying changes and developing a course of
action and acting on it. In addition, we must find ways to mitigate
risks, as well as take advantage of new opportunities they present.
For this issue, we invited a number of practitioners to share
their thoughts on how to manage disruptions. What we learned
Copyright © 2021 Journal of Business Forecasting | All Rights Reserved | Winter 2020-2021 | www.ibf.org 3
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from them is amazing. Whenever disruption strikes, we must
immediately understand the impact on the bottom line and do
everything we can to protect it. For that, Pat Bower recommends
SKU rationalization, which will cut down not only production
costs but also inventory and warehouse costs. Charles Chase
reveals how to mitigate the bullwhip effect to stop small demand
changes from wreaking havoc in supply, thereby reducing costs
and ensuring timely order fulfilment. Larry Lapide explores the
concepts of demand planning under risk vs demand planning
under uncertainty to manage disruptions, along with a risk
payoff matrix. In demand planning under risk, planners know
what could happen as well as their probability of outcomes,
whereas under uncertainty, planners know just the outcomes—
probabilities provide better insight and, consequently, better
decisions. Tim Hotze and Henry Canitz show what changes are
needed in the S&OP process to manage disruptions with real-
world, practical advice that can make all the difference when
disaster strikes.
Managing crises is not enough, however. We also need to
plan for the post-disruption period when demand will change
yet again. Daniel Fitzpatrick shows how to determine what we
are likely to see during the post disruption period, and how to
plan for it.
Disruptions are not going away—in fact, not only will they
remain, they will become thicker and faster, with increasing
intensity. We must be ready 24/7, standing by to react with agility
and speed.
Happy forecasting!
Chaman L. Jain, Editor
Institute of Business Forecasting
cjain@ibf.org
 Building Resilient Supply
of Extreme Uncertainty
By Chaman L. Jain

E X E C U T I V E S U M M A R Y | If there’s one thing Covid-19 has reminded us of, it is that the one constant in life is
uncertainty, and, in times of crisis, uncertainty is no more keenly felt than in business. Uncertainty in business is caused by
supply and demand shocks, which become a very serious problem when an appropriate risk management strategy and
established processes are not in place. When uncertainty strikes, we need to change our supply and demand planning
processes to respond to changing demand, which requires both speed and agility. This article reveals how we can achieve
this, with key examples from leading companies who are not only surviving the pandemic with resilient supply chains and
sound understanding of shifting demand, but are also capitalizing on new opportunities.

C H A M A N L . J A I N | Dr. Jain is a former Professor of Economics at St. John’s University, Editor of the Journal of
Business Forecasting, and author of the book, Fundamentals of Demand Planning and Forecasting. He has worked
globally for a number of companies, helping their demand planning and forecasting efforts as both a consultant
and trainer—examples include Hewlett Packard, Jockey International, Brown & Williamson, Sweetheart Cups,
Eastman Kodak, Prince Global Sports, Saudi Aramco, and DU-Emirates Integrated Telecommunications Co.

4 Copyright © 2021 Journal of Business Forecasting | All Rights Reserved | Winter 2020-2021 | www.ibf.org
Chains During Times
B DATA AND MODELS
efore I describe how to plan un-
der extreme uncertainty, it is im-
portant to know the difference
between uncertainty and extreme un-
certainty. Because of rapidly changing
market dynamics, businesses experi-
ence a certain amount of uncertainty
every day. What we don’t experience
every day is extreme uncertainty arising
from such things as a recession, pan-
demics like the one we are currently ex-
periencing, natural disasters like earth-
quakes and tsunamis, development of
a certain technology, and passing of a
certain legislation. Such events cause
shocks in supply, demand, or both. A re-
cession, for example, causes a shock in
demand; earthquakes and tsunamis, in
supply; and the pandemic which we are
currently experiencing, a shock both in
supply and demand. To deal with them,
we need a different set of tools and a dif-
ferent strategy.
Copyright © 2021 Journal of Business Forecasting | All Rights Reserved | Winter 2020-2021 | www.ibf.org 5
Forecasts are the basis of demand
planning. To prepare them, we need
data and models. What kind of data to
use and how much, and which model
to deploy, depends on the situation we
are in. During a crisis like this pandemic
and the subsequent recession, demand
patterns dramatically change. Demand
for certain categories/items skyrockets,
while demand for others falls precipi-
tously. Therefore, we cannot go too far
back to prepare forecasts because past
data will not reflect the current pattern.
What appear to be outliers might be part
of a new pattern, which would become
clearer as more observations come in.
But we need forecasts now to make de-
cisions.
One way to prepare forecasts is to
use, in addition to internal data, external
indicators like the unemployment rate,
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5 Demand Planning
Tips For 2021: Combating
Covid-19 Volatility
By Daniel Fitzpatrick
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E X E C U T I V E S U M M A R Y | Covid-19 may abate in 2021, but the uncertainty it has caused will continue to be felt
throughout the year and beyond. As lockdowns end and a vaccine is made available, consumer demand will shift once again,
and we need to be ready. Here I present five tips for effectively managing demand for 2021, including segmenting your data
to better understand how particular products will react; understanding the impact on particular sales channels as consumers
shift from one channel to another; and sharing your assumptions with Sales & Marketing to test both your biases and theirs.

D A N I E L F I T Z PAT R I C K | Daniel Fitzpatrick is a Demand Planner who has worked in retail inventory
management for more than 20 years. An educator by training, he taught himself the basics of replenishment,
planning and forecasting. He developed these skills further in his time working for Office Depot, Walmart and
Home Depot. He has also worked in a training capacity for Walmart, teaching users how to navigate and use
many of Walmart’s complex inventory management systems. He acquired CPIM certification in 2016 and is a
regular contributor to demand planning publications and podcasts.

F
or many companies, forecast-
ing their business in 2021 will
be challenging. The disruptions
caused by the Covid-19 pandemic,
the shift from brick-and-mortar to
online selling, significant weather
and natural disasters plus the vola-
tile political environment have made
planning difficult to manage. Make
no mistake, the disruptions caused
by Covid-19 will continue; the eas-
ing/end of lockdown restrictions
and a vaccine will both shift con-
sumer demand. Uncertainty, then,
will remain a key theme for 2021.
This has created a unique opportu-
nity for Demand Planners to step up
and take a leadership role in help-
ing their companies manage this
challenge. To help every Demand
Planner who is facing this challenge,
here are five actions we can take
now to improve our planning capa-
bilities.
1.
KNOW YOUR DATA
As Demand Planners, we need to
be the experts when it comes to our
historical and forecast data. We need
to understand how the events of 2020
impacted our business on several levels.
To do this, we need to segment our data.
Each of the following groups needs
specific attention in 2021:

10 Copyright © 2021 Journal of Business Forecasting | All Rights Reserved | Winter 2020-2021 | www.ibf.org
• Items with significant (>20%) in-
creases or decreases over the prior
year.
• Items that were short-shipped or
consistently out of stock.
• Customer inventory levels.
Now, let’s look at how to diagnose
the causes underlying each group.
Items with significant (>20%) in-
creases or decreases over the prior year:
We need to ask if these changes were the
result of events in 2020 or if they were the
result of normal trends in the business.
Let’s look at the potential causes of the
increases first. We need to understand
these so that we can properly plan for fu-
ture demand. These include:
• Expected growth from newly
introduced items; these items are
growing in sales due to customers
wanting a new product or from lack
of competing SKUs, and this growth
may be completely unrelated to any
other event.
• Growth from hoarding.
• Expected seasonal sales increases,
as the item sells better in spring and
summer weather or around specific
holidays.
• Growth in eCommerce sales as
customers shift from buying in
person to shopping online.
• Growth due to price decreases that
made the product more appealing
to customers.
• Growth due to the product being
seen as an essential product that
customers demand in times of crisis.
• Growth due to competing items
being unavailable.
Once we document and understand
what drove the increase for each item,
we can decide if this will continue to be
a factor in 2021, and if we can expect
the same level of increase or if we need
to plan to adjust this trend down. Now
let’s consider the items with significant
decreases in 2020. The causes might
Copyright © 2021 Journal of Business Forecasting | All Rights Reserved | Winter 2020-2021 | www.ibf.org 11
include:
• Lack of product availability.
• Decrease due to the item being at the
end of its life cycle, where demand
naturally drops off.
• Increase in competitive SKUs.
• Customers delaying purchasing due
to economic uncertainty.
We will need to document and
understand what impacted each item
in order to plan for 2021, and we will
need to make some assumptions about
whether the impact of 2020 will carry
over into 2021.
Items That Were Short-Shipped
Or Consistently Out Of Stock: For this
segment we need to understand what
caused items to be unavailable, and
how long each item was out of stock
or unavailable to be shipped. Possible
causes include:
• Production limited by labor shortages.
• Limited carrier availability.
• Raw material shortages.
• Demand spikes due to hoarding.
We’ll need to document the cause
of each outage as well as the timeframe
where the item was unavailable. This
is key to understanding what the true
demand for the item could have been
during the last year.
Customer Inventory Levels: Lastly,
if we have access to our customer’s
historical inventory data, let’s look at
the expected inventory levels for our
customers. We can do this either by
looking at the quantity that best supports
their sales and presentation throughout
the year, or by calculating either a days
of supply or weeks of supply as a target. I
usually calculate this at the item level and
exclude any quantities for promotions. I
also ask the salespeople to confirm these
levels for the future, and also ask if we
expect the level to vary throughout the
year. Seasonal or frequently promoted
items often have different inventory
levels depending on the time of year.
2.
UNDERSTAND THE
IMPACT ON THE
DIFFERENT SALES
CHANNELS
In addition to segmenting our items
to see the different impacts of events
in 2020, we also need to look at the
impact on our sales channels. Overall,
there is a trend of sales shifting to online
channels. So, we need to understand
how this shift may be impacting our
other channels. It’s also important to
understand if sales merely moved to a
different channel, or whether sales grew
overall, and that a greater proportion of
the increased sales are now happening
online. Here’s how I would break this
down:
• Did the channel overall increase or
decrease in volume?
• What specific items increased or
decreased in volume by >20%?
• What items sold in multiple channels?
• Did the overall percentage of sales
by channel change significantly over
the course of the year?
This allows us to see what shifts
occurred and where the shifts had an
impact. This is important information
in planning and budgeting for 2021, as
some shifts may be temporary, while
others may be permanent.
3.
FIND GOOD
HISTORICAL MODELS
FOR 2021
It might be necessary to go back
several years to find a historical model
that you can use as a starting point for
continued on page 15
Product Rationalization
Within the S&OP Process
to Adapt to the
Covid-19 Environment
By Pat Bower

E X E C U T I V E S U M M A R Y | In recent years SKU proliferation has been a key theme for consumer goods companies
as they aim to serve an increasingly diverse population with new, targeted products across brick-and-mortar, direct to
consumer, and eCommerce channels. As Covid-19 hit, along with its economic implications, the risk of SKU proliferation has
been laid bare. In an attempt to rid themselves of low margin, under-performing products, many consumer goods companies
are engaging in SKU rationalization. Here I explore the reasons for SKU bloat in recent years and present a framework for
identifying your most valuable items using a new technique that focuses on the economic value of each SKU, allowing you to
know which items to keep and which to discard.

PAT B O W E R | A frequent writer and speaker on supply chain subjects, Patrick is a recognized demand
planning and S&OP expert and a self-professed “S&OP geek.” He has worked at Director and Sr. Director level
in a range of demand planning and supply chain roles, with experience at Cadbury, Kraft Foods, Unisys, and
Snapple. In addition, he has worked for the supply chain software company, Numetrix, and was Vice President
of R&D at Atrion International. He was recognized four times by Supply and Demand Chain Executive magazine
as a “Pro to Know,” and Consumer Goods Technology magazine considered him one of their 2014 Visionaries.
He is the recipient of the inaugural IBF’s Excellence in Business Forecasting and Planning Award.

A
few months back I read an article
about plans by international
snack food company Mondelēz
to rationalize SKUs by 25%. It was
apparently part of a larger effort to
simplify the supply chain in response
to the Covid-19 pandemic, while also
doubling down on—and delivering
strongly against—core products. resources.
Proctor & Gamble and Coca-Cola
announced similar efforts to deliver a WHY HAVE SKUS
narrower portfolio of their most strategic
products. Coke even announced it HAVE GROWN IN
was discontinuing the Tab diet soda RECENT YEARS?
platform. It seems Covid-19 has forced
decisions that have ultimately refocused Before settling down to write this ar-

12 Copyright © 2021 Journal of Business Forecasting | All Rights Reserved | Winter 2020-2021 | www.ibf.org
5 Demand Planning Tips For 2021: Combating Covid-19 Volatility
continued from page 11
2021. For now, we are not looking for a
model for planning quantities; instead
we are looking for a model that shows
the best consistent overall historical
pattern for our business. We’ll add the
quantity data later.
It’s also best to start by using an
annual model at the item family or
customer level, as these will contain
less noise than lower level data. We
can tailor our quantity forecasts by
item later. I would suggest calculating
the percentage of the total sales that
occurred in each period. You can use
this later to spread the expected annual
quantities for 2021 over the entire year.
4.
USE THE BEST
HISTORICAL MODEL
FOR YOUR INITIAL
PLAN FOR 2021
By using a good historical model,
we can simulate a historically accurate
Copyright © 2021 Journal of Business Forecasting | All Rights Reserved | Winter 2020-2021 | www.ibf.org 15
initial forecast for 2021. I would start by
planning at the item family or customer
level first. Using the total quantities that
we expect to sell for the year, I would
spread these over the full year by dividing
the total quantities by the historical sales
percentage that occurred in each month.
This will give us a good initial forecast
for 2021. We can use this same model to
create initial forecasts at the item level.
If you are using a statistical model, you
can compare your statistical forecasts
to this forecast and note any significant
differences. These should be discussed
with the sales and marketing teams.
5.
SHARE YOUR INITIAL
PLAN WITH SALES
AND MARKETING
& EXPLAIN YOUR
METHODS
A plan that isn’t shared can’t add
value to the discussions about the future.
What we want to do as Demand Planners
is drive discussion around the various
plans for the future. By doing this we
uncover the biases that often skew our
plans without our knowledge. Bring the
biases—including your own—out into
the open where they can be tested. And
be open about the methods you used
to get to your numbers and ask others
to show how they got to their numbers.
We are not necessarily looking for people
to agree with our numbers. We should
instead be trying to get all the input we
need to get to the best number for the
future.
Planning for 2021 will be chal‑
lenging. But with a well-structured plan
and solid methods we can provide our
teams with a sound initial forecast for the
coming year. It will take some work on our
part. And it will also provide us with the
opportunity to make a significant impact
on our company’s ability to successfully
plan for the year ahead, and to show the
value of good demand planning.
—Send Comments to: JBF@ibf.org
Neutralizing the
Bullwhip Effect to
Manage Extreme
Demand Volatility ARTICLE IN FULL.
READ ER TODAY
By Charles W. Chase, CPF BECOME AN IBF MEMB
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E X E C U T I V E S U M M A R Y | Much of the difficulty we are currently experiencing in trying to balance supply and
demand is due to the bullwhip effect, whereby even slight changes downstream in consumer demand have very drastic
impacts upstream on supply. During times like these when demand continues to shift in ways that are difficult to anticipate,
the bullwhip effect is more pronounced than ever, and, for many companies without established demand planning processes,
it is wreaking havoc on our supply chains and our ability to meet consumer demand. At the core of this problem is ineffective
demand forecasting, with many companies forecasting orders/shipments instead of the real demand signal. Here I detail 5
practical responses that mitigate the causes of the bullwhip effect and will help us navigate the extreme uncertainty relating
to Covid-19.

C H A R L E S C H A S E | Charles is the Executive Industry Consultant and Trusted Advisor for the Global Retail/CPG
Industry Practice at the SAS Institute. He is also the principal solutions architect and thought leader for delivering Demand
Planning and Forecasting solutions to improve SAS customers’ Supply Chain efficiencies. Prior to that, he worked for
various companies, including the Mennen Company, Johnson & Johnson, Consumer Products Inc., Reckitt Benckiser
PLC, Polaroid Corporation, Coca Cola, Wyeth-Ayerst Pharmaceuticals, and Heineken USA. He has more than 20 years of
experience in the consumer-packaged goods industry, and is an expert in sales forecasting, market response modeling,
econometrics, and Supply Chain Management. He is the author of several books, including Next Generation Demand
Management: People, Process, Analytics, and Technology, and Demand-Driven Forecasting: A Structured Approach to
Forecasting. In addition, he is co-author of Bricks Matter: The Role of Supply Chains in Building Market-Driven Differentiation.
He is the second recipient of IBF’s Lifetime Achievement in Business Forecasting and Planning Award.

D
uring normal times, companies
face numerous uncertainties of
varying consequences. Execu-
tives deal with challenges by relying on
conventional processes and frameworks
that facilitate data-driven decisions. In
a crisis, however, uncertainty can reach
extreme levels, and the conventional
way of working becomes ineffective and
executives quickly find themselves fac-
ing extreme pressure to deliver products
and services to meet shifting consumer
demand patterns.
The uncertainty of consumer demand
occurs during times when a business or
an entire industry is unable to accurately
predict demand for its products or
services. This can cause several problems

16 Copyright © 2021 Journal of Business Forecasting | All Rights Reserved | Winter 2020-2021 | www.ibf.org
for companies, making it difficult to
effectively manage customer orders and
inventory levels. Uncertainty is measured
in magnitude and duration, with both
measures determining the uncertainty,
whether it is due to the digital economy,
the Covid-19 crisis, or some other
disruptive event. The economic damage
created by this current perfect storm
of disruptions is unprecedented in
modern history. It is not surprising that
companies are looking for new demand
planning processes and frameworks to
sustain their supply chains.
The magnitude of the uncertainty or-
ganizations face in this crisis are defined
by the frequency and extent of changes
in information, which requires continu-
ous learning and flexible responses as
the situation evolves. Unfortunately,
the duration of the crisis has exceeded
the early predictions of many analysts
meaning that Demand Planners are
having to operate in crisis mode for an
extended period. Corporate executives
need to begin devising new operating
models so they can direct their organi-
zations under this extreme uncertainty.
CHALLENGES
CREATED BY
UNCERTAINTY
Uncertainty makes it difficult to
determine the right quantity of supplies
and goods to order for each sales cycle.
This also creates back orders on shelf,
high inventories for the wrong products,
higher than normal safety stock, and
discarded products, not to mention
reduction in revenue and profit margins.
Each scenario leads to an increase
in unexpected costs. When demand
unexpectedly increases, companies with
an insufficient supply of goods to sell
will experience lower customer service
levels resulting in dissatisfied consumers
Copyright © 2021 Journal of Business Forecasting | All Rights Reserved | Winter 2020-2021 | www.ibf.org 17
Figure 1 | The Bullwhip Effect: Fluctuations in the Replenishment Signal
who may purchase from a competitor
who has supply of that particular
product. Some consumers may never
return to the original branded product,
resulting in a loss of business for the
company. The costs associated with
losing a consumer to a competitor are
greater in many cases than the costs
of carrying excess inventory. Problems
caused by demand uncertainty are not
only limited to having the right product
availability; when consumer demand
fluctuates, it becomes difficult to achieve
appropriate staffing levels, especially for
retailers. Other areas of expenditure,
such as equipment purchases and
facility development, are also affected.
THE DANGER OF THE
BULLWHIP EFFECT
Demand uncertainty at the retail
customer level tends to get magnified
from the consumer (downstream) back
(upstream) through the entire supply
chain to the Consumer Packaged Goods
(CPG) raw materials suppliers. This phe-
nomenon starts when retailers and
wholesalers notice that the retail stores
they serve have cut back or increased
their orders. This in turn creates a chain
reaction of cutting or increasing supply
from the consumer goods suppliers who
then over- or underestimate (hedge)
their demand plans to compensate for
the changes in sales orders. As a result,
the flow of orders is amplified upstream
throughout the entire supply chain cre-
ating as much as a six month or greater
backlog within the supply chain that be-
gan with retailers ordering an additional
supply of only three to four weeks. This
is known as the bullwhip effect because
it graphically resembles the action of a
bullwhip; when the “handle” is moved
only slightly, the “tail” experiences much
wider fluctuations. See Figure 1.
In this scenario we see increases in
finished goods inventory and safety
stock in response to shifts in consumer
demand as one moves further upstream
in the supply chain. The concept first
appeared in Jay Forrester’s Industrial Dy-
namics (1961) and thus it is also known
as the Forrester effect. It has been de-
scribed as “the observed propensity for
material orders to be more variable than
demand signals and for this variability
to increase the further upstream a com-
pany is in a supply chain”.
This situation is augmented even fur-
ther because CPG companies’ demand
management organizations lack vis-
ibility and accessibility to downstream
data. In fact, most Demand Planners
are embedded upstream in Operations
Planning, too far removed from the
downstream customer/consumer to ac-
curately forecast future demand. To fur-
ther exacerbate this problem, Demand
Planners are not even forecasting de-
mand, but rather supply—they forecast
with shipment data which is the supply
signal. They are backing into a constrained
supply plan that they call a demand plan
that is based on manufacturing capacity
constraints. The closest a Demand Plan-
ner gets to downstream data is through
sales orders from retailers and wholesal-
ers, which is the replenishment signal
already inflated by over reactions and
hedging. The entire supply chain man-
agement process is backward looking—
looking from supply to consumer, rather
than from consumer to supply. How can
you possibly react to consumer demand
if everything you see and do is about sup-
ply including the historical data being
used to predict future demand? Further-
more, Demand Planners are restricted
by their supply blinders from seeing the
entire consumer landscape including
market conditions and the marketing ini-
tiatives used to incentivize consumers to
purchase their products.
Big variations in demand such as we
are seeing currently cause a major prob-
lem throughout the supply chain, creat-
ing many inefficiencies which cause an
increase in costs, and, in many cases,
lost sales revenue. The common symp-
toms of such variations experienced by
companies right now include excessive
inventory, poor product forecasts, in-
sufficient or excessive capacities, poor
customer service due to unavailable
products or long backlogs, uncertain
production planning due to excessive
revisions, and high cost corrections re-
lated to the need for expedited ship-
ments and overtime.
NEUTRALIZING THE
BULLWHIP EFFECT
Minimizing the bullwhip effect be-
18 Copyright © 2021 Journal of Business Forecasting | All Rights Reserved | Winter 2020-2021 | www.ibf.org
gins with better forecasting of the con-
sumer demand signal (POS/syndicated
scanner data—like Nielsen, IRI, and oth-
ers) not customer demand replenish-
ment (sales orders), which will enable
more accurate demand forecasting and
planning. This requires a complete re-
engineering of the demand manage-
ment process including people, analyt-
ics, and technology.
Open source, cloud ready solutions
now allow companies to monitor con-
sumer demand on a daily and/or weekly
basis providing real-time updates re-
garding shifting consumer demand
patterns based on current market con-
ditions. Navigating the current climate
of uncertainty will require new intelli-
gence, resilience, and leveraging of ad-
vanced analytics and machine learning.
Here are five actions that can improve
retailers and Consumer Packaged Goods
(CPG) companies’ ability to predict the
changing demand patterns.
1. Use Downstream Data That Reflects
True Demand: Analyze and forecast
the downstream POS/syndicated
scanner data collected through store
scanners. Use it to determine the shift
in demand patterns for your products
to more accurately forecast the mix
within the average market basket. It
is even more important to focus on
forecasting the lower product mix as
it will indicate which items have the
highest demand velocity as well as
those products with the lowest de-
mand. Most CPG companies receive
POS/syndicated scanner data directly
from their retail customers on a daily
and/or a weekly basis. This is the tru-
est consumer demand signal.
Several CPG companies have start-
ed analyzing and forecasting their POS
data for products sold to their top 20
global grocery retail customers and,
almost immediately, are recognizing
significant shifts in consumer demand
patterns. They then act accordingly.
They have also detected an increase
in demand for their products on Ama-
zon.com as consumers shift from brick-
and-mortar stores to online purchases.
Using POS demand history and revised
future forecasts as a leading indicator
in their shipment models, those same
CPG companies can accurately predict
supply replenishment to those same
retail customers.
2. Adopt and Implement Advanced An-
alytics and Machine Learning: Imple-
menting advanced analytics and ma-
chine learning algorithms can help
spot abnormalities quickly and adjust
supply responses immediately. Re-
cently, I had a discussion with a data
scientist at a large retailer about how
they were coping with the Covid-19
crisis, and how their new advanced
statistical forecasting solution (de-
signed to forecast warehouse ship-
ments using predictive analytics and
machine learning) was handling the
shift in demand patterns. The data
scientist explained that the new fore-
casting engine was performing very
well while their legacy solution was
crashing. This comparison illustrates
that even when the shifts in demand
patterns were significant, the auto-
tuning advanced predictive analytics
models quickly adapted.
3. Implement a Short-Term Demand
Sensing Process: Implement a short-
term (one to eight week) forecast
that utilizes advanced analytics and
machine learning to predict weekly
and daily demand using sales orders
and shipments in combination with
POS data. Using POS data as a leading
indicator in the models (along with
sales promotions and events) allows
a retailer and/or CPG company to
calculate not only the promotion lifts
but the shifts (anomalies) in short-
term demand patterns.
4. Incorporate Social Media Infor-
mation: Incorporate social media
into your demand forecasting and
planning process by capturing con-
sumer sentiment. Text mining and
sentiment analysis allow retailers to
monitor social channels for consum-
ers’ comments on product availability,
what’s trending, and their store pur-
chases. Once you’ve gathered a large
enough sample of customer conversa-
tions, you can apply sentiment analysis
to determine which products are mov-
ing rapidly off store shelves and which
ones are completely out of stock, as
well as additional changes in purchase
patterns and store availability.
By working closely with the mar-
keting and/or the consumer insights
team, Demand Planners can utilize
this information to identify in real-
time the key stores, categories and
products that are affected. For exam-
ple, for one company I know, paper
goods are moving faster in northeast
regional store clusters in the NYC
metro area versus the mid-Atlantic
stores. So, the planner should fo-
cus demand planning efforts on the
northeastern NYC metro area store
clusters, categories, and products.
This information can be easily inte-
grated into the demand planning
process by simply working closely
with the marketing and/or consumer
insights team. Sharing analytics find-
ings and information across depart-
Copyright © 2021 Journal of Business Forecasting | All Rights Reserved | Winter 2020-2021 | www.ibf.org 19
ments is vital to accurately predicting
shifts in demand patterns. This is a
core reason for embedding demand
analysts and planners downstream
in the sales/marketing organization
closer to the consumer.
5. Focus on the Granular View: Pat-
terns in consumer demand are vary-
ing across countries and product
categories more than usual. Many re-
tailers are experiencing huge spikes
across local geographies in excess of
800% for over-the-counter cold and
flu medicines while food items are
in excess of 25-50%. According to a
March 16, 2020 McKinsey & Company
briefing, consumer demand shifted
dramatically in the period before the
Italy lockdown. Sales for cleaning and
safety products like sanitizing alcohol,
tissues, bleach, hand soap, and toilet
paper increased by between 23% and
347%, while raw ingredients and long
shelf-life products like flour, rice, pasta,
pasta sauce, frozen food, and water
had lower increases of 20% to 82%.
Meanwhile, discretionary products
like sweets, baking mix, cosmetics,
perfume, and salty snacks decreased
anywhere from 4% to 52%.
According to the McKinsey brief-
ing, in some geographies, consumers
were buying fruit over beer but, after
a few days, they were returning to
beer and snacks as they found them-
selves at home for extended periods
of time. Subsequently, certain store
formats like convenience stores are
seeing huge declines in sales, while
others like eCommerce are experi-
encing up to 700% increases in con-
sumer demand and may be unable
to fulfill customer orders.
Collaboration and full transparency
between retailers and their CPG suppli-
ers are crucial to identifying and acting
upon demand signals and changes in
demand patterns. Constant commu-
nication will enable retailers and CPG
suppliers to act fast and appropriately
to mitigate root cause threats that con-
tribute to under-predicting demand for
essential items.
CLOSING THOUGHTS
This unprecedented pandemic is a
wake-up call to all industries, including
retailers and their CPG suppliers. It’s no
longer just about collaborating across
internal departments. It’s about humans
partnering with machines in an autono-
mous supply chain with full transpar-
ency. There is a mandate to leverage
the collaboration between humans and
machines to fight an invisible enemy
that threatens our way of life and our
economy like none other. Together, we
can detect abnormalities faster, identify
immediate shifts in demand patterns,
and make decisions in real-time. There’s
no time for hesitation or mulling over
options.
—Send Comments to: JBF@ibf.org
5 Proven Strategies to
Improve Planning During
Good Times & Bad
By Henry Canitz

E X E C U T I V E S U M M A R Y | Research indicates that the winners and losers following a recession are differentiated
by the level of investment they make during the downturn. Here I present five strategies, that, while requiring capital
expenditure, will enable companies to better balance supply and demand during the current Covid-19 environment, and
emerge much stronger when Covid-19 abates and the economy returns to steady growth. I discuss the importance of proper
data management to forecast effectively during periods of extreme demand volatility; the value of a digital twin to analyze
trade-offs and what-if scenarios; demand sensing to enable quicker supply responses; integrating IBP to act on the latest data
and tie tactical plans to strategy; and Multi-Echelon Inventory Optimization to free up much needed cash.

H E N R Y C A N I T Z | Henry is a highly experienced enterprise software marketing and industry strategy

professional with over 25 years’ experience building high performance operations including evaluating,
implementing, and enabling technology at leading companies. He also has extensive experience developing
and marketing business solutions with leading enterprise software providers. Henry holds an undergraduate
degree in Mechanical Engineering from the University of Wisconsin, a graduate degree in Supply Chain
Management from Michigan State University, APICS CPIM and CSCP certifications, and a Lean Six Sigma
black belt certification. Henry is an active contributor to supply chain periodicals and blogs and is a frequent
speaker at industry conferences.

L
ike millions of people around
the globe, I have watched with
growing concern as the number
of people infected with Covid-19 con-
tinues to grow at an alarming rate. The
global economy has been disrupted by
a virus that is too small to be filtered by
most available face masks. Public gath-
erings have been cancelled including
public schools, sporting events, social
gatherings, conferences, musical perfor-
mances, and other entertainment. Many
businesses, large and small, are fighting
for survival as business has disappeared
due to social distancing or moved to di-
rect to consumer channels. Some cities
(and countries) are back on lockdown,
travel restrictions are still in place, and
global markets are in a recession.
A global pandemic of this size has
not happened in modern times, and
most people continue to stockpile non-
perishable products out of fear of the
unknown. For the first time in modern
history, shelves of stores across the
globe that sell food, beverages and
other fast-moving consumer goods
(including toilet paper, hand sanitizer
and cleaning products) were emptied.
Looking back to 2019 and early 2020,
no one could have predicted the
current state of the global supply
chain. Perhaps we should have been

20 Copyright © 2021 Journal of Business Forecasting | All Rights Reserved | Winter 2020-2021 | www.ibf.org
CORPORATE
ADVISORY
DEMAND
S&OP FORECASTING ANALYTICS
PLANNING

Fortune 500 companies and multinationals the world over recognize IBF for its domain expertise in
Forecasting and Planning. We assist companies with organizational design, while supporting
capability development across:

TALENT • PROCESS • ANALYTICS • SYSTEMS/TECHNOLOGY

All to manage supply and demand more effectively.
The depth of our expertise and experience make your business more competitive in
today’s business environment.
Contact us today to assess your company’s S&OP and Forecasting maturity level
and learn how IBF can provide solutions to becoming best-in-class

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Institute
Forecasting & of Business
Planning
Forecasting & Planning

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tel: +1.516.504.7576 | email: info@ibf.org | web: www.ibf.org
Forecasting & Planning tel: +1.516.504.7576 | email: info@ibf.org | web: www.ibf.org
ON
O N -- SS II T
TEE

Demand Planning,
Forecasting, & S&OP
Corporate Training
※ ON-DEMAND LEARNING OPTIONS “ Instructor was able to
show how to apply topics

※ CUSTOM TAILORED UPON REQUEST to real events.”

— P. Schroeder, Demand

※ ASSESSMENTS & ADVISORY

Management
ROLLS-ROYCE

※ UNLOCK THE POWER OF YOUR ERP “ I loved it! The structure was

※ BENCHMARKS & BEST PRACTICES outstanding. The instructor

was confident. He knew the topic

※ AVAILABLE GLOBALLY
extremely well.”
—S
 ameera Al-Masool, Corporate Planning
SAUDI ARAMCO

※ CERTIFICATION PREPARATION
“T
 he workshop was very thorough and
introduced valuable forecasting concepts.
It also stimulated discussion on our
business process relating to forecasting.”
Institute of Business —C
 . Eland, Demand Management
Forecasting & Planning SC JOHNSON

Institute of Business
Forecasting & Planning tel: +1.516.504.7576 | email: info@ibf.org | web: ibf.org/training

Companies that have participated in IBF’s corporate programs (partial list):

Understanding the
Concepts of Uncertainty
& Risk: Making Decisions
with a Payoff Matrix
By Larry Lapide

EXECUTIVE SUMMARY | This article deals with the difference between demand planning under uncertainty versus demand
planning under risk. It aims to define both and argues that demand planning under uncertainty means a planner knows
the outcomes that might happen after they make planning decisions; yet have no knowledge of the probabilities of those
outcomes. In the case of demand planning under risk, a planner knows both the outcomes and their probabilities. It also
presents a payoff matrix, to facilitate our understanding of different outcomes for a given decision, which should help us to
develop optimal responses to Covid-19 demand disruptions.

L A R R Y L A P I D E | Dr. Lapide is a lecturer at the University of Massachusetts and an MIT Research Affiliate.
He has extensive experience in industry, consulting, business research, and academia as well as a broad range
of forecasting, planning, and supply chain experiences. He was an industry forecaster for many years, led supply
chain consulting projects for clients across a variety of industries, and has researched supply chain and forecasting
software as an analyst. He is the recipient of IBF’s inaugural Lifetime Achievement in Business Forecasting and
Planning Award. He welcomes comments on his columns at llapide@mit.edu.
(This ongoing column in the Journal is intended to give a brief view on a topic of potential interest to practitioners of
business forecasting and planning. Suggestions on topics that you would like to see covered should be sent via email to
llapide@mit.edu.)

I
was perplexed when Dr. Chaman Jain,
Editor-In-Chief of this journal, noti-
fied me that the Winter 2020-2021 is-
sue of the JBF was going to be a special
one on “Demand Planning During Times
of Uncertainty.” So, I asked him and Eric
Wilson, IBF’s Thought Leader and fel-
low journal contributor, what demand
planning during uncertainty means, be-
cause, do we ever do demand planning
in business without uncertainty?
I heard back from Eric who confirmed
that IBF’s definition of demand planning
is “the process of using forecasts to help
highlight opportunities and threats; to
tell us ahead of time what we expect
sales of a product to be; and which
markets or channels of distribution are

26 Copyright © 2021 Journal of Business Forecasting | All Rights Reserved | Winter 2020-2021 | www.ibf.org
 SPEAK   at IBF
write
Give back to the community
Have you considered sharing your experience and lessons learned as a speaker/panelist at an
upcoming IBF event or by writing an article for our flagship publication, the Journal of Business
Forecasting (JBF), or for the industry-leading online resource, www.demand-planning.com?

P U BL ISH I N G
The Journal of Business Forecasting (JBF) is IBF’S quarterly publication read by professionals across
the globe. Every article is written for practitioners at every level in all industries. Plus, they are
written for and by practicing planning and forecasting professionals. We also welcome publishing
on the world’s most popular planning and forecasting site, www.demand-planning.com. Consider
writing an article for the JBF or www.demand-planning.com today!

TO BE CONSIDERED, please EMAIL: ibf@ibf.org

with your interest in submitting an article

S PE A K IN G
Join some of the world’s largest and most well known companies who have shared best
practices, lessons learned and war stories on business forecasting, planning,
and predictive analytics. You don’t have to be an “expert” or a thought leader in the field to be
considered as an IBF speaker.  If you have lessons learned or a case study to share we want to
hear from you. Consider speaking at an IBF event today!

TO BE CONSIDERED, please EMAIL: speaking@ibf.org

with your interest in speaking

 BENEFITS OF SPEAKING & GETTING PUBLISHED

• Earn points towards IBF Re-certification
• IBF speakers receive complimentary admission to the event
• Gain visibility, recognition and credibility for you and your company
• Advance your career
• Help foster the growth of S&OP/ IBP, Demand Planning, Forecasting, and
Predictive Business Analytics with your contribution

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Executing a
Value-Chain Flow Plan
With S&OP to Manage
Unprecedented Supply
& Demand Shocks
By Tim Hotze

E X E C U T I V E S U M M A R Y | In the current pandemic environment, many assumptions have changed and forecasting
and planning have become harder. It is a given that, as the environment around you changes, so should your approach to
planning. This does not, however, mean that you need to reinvent proven S&OP techniques and processes; rather, you should
understand what outputs have changed and trace these back to a changed correlation in inputs. Value Chain Management
—where we take a holistic view of the entire product lifecycle, combining demand and supply planning and supporting them
with S&OP—is our foundation for successfully navigating supply/demand shocks. This article will reveal how such a process is
well-placed to react quickly and effectively in such circumstances and, when complimented by a three-step framework that
considers input fidelity, S&OP frequency, and changed latency of levers and constraints, we can manage the unprecedented
disruptions caused by Covid-19.

Tim Hotze | Tim Hotze is Senior Vice President, Network Planning, Global Intelligence and Last Mile for Target. He
oversees Target’s Supply Chain intelligence products as well as end-to-end operational functions for Network and
Topology Planning, S&OP, Guest Order, Availability Management and Last Mile Operations. Before joining Target in
2017, Tim held a number of leadership roles at Amazon covering Supply Chain Execution, Capacity Planning and
Management, Inventory Placement and Labor Planning. He also spent more than a decade at Panalpina World
Transport where he had responsibility for worldwide logistics and Supply Chain solutions as well as innovation
management. Tim sits on the Board of Directors of The Warehouse Education and Research Council and on the
Advisory Board for the Institute of Business Forecasting and Planning. Tim holds a joint Masters degree in Electrical
and Industrial Engineering and Logistics and Supply Chain from the University of Technology in Darmstadt
(Germany).

30 Copyright © 2021 Journal of Business Forecasting | All Rights Reserved | Winter 2020-2021 | www.ibf.org
 Worldwide
INTERNATIONAL

Real GDP in
ECONOMIC
OUTLOOK

Freefall As
Economic Impact of
Covid-19 is Laid Bare
By Evangelos Otto Simos

Dr. Evangelos Otto Simos is head of predictive intelligence at Kefallonia, Inc., a private research and consulting firm, and professor
at the University of New Hampshire. This report does not purport to be a complete description of global economic conditions
and financial markets. Neither the Journal nor Kefallonia, Inc. guarantee the accuracy of the projections, nor do they warrant in
any way that the use of information or data appearing herein will enhance operational or investment performance of individuals
or companies who use it. The views presented here are those of the author, and in no way represent the views, analysis, or
models of Kefallonia, Inc. or any organization that the author may be associated with. You can contact Evangelos at eosimos@
e-forecasting.com

I. GLOBAL ASSESSMENT AND OUTLOOK

In the world’s major seven industrial countries, real GDP
combined growth set record gains of 36% in the third quarter of
2020 following a fall of 42% in the second quarter. The bounce
in real GDP of the club of the most industrialized economies—
Canada, France, Germany, Italy, Japan, the United Kingdom, and
the United States—was short of where it was before the arrival
of Coronavirus pandemic. An expected second gain in growth
in the last quarter of 2020 and good vaccination prospects
have resulted in an optimistic growth outlook for 2021, when
economic activity could be back to its pre-pandemic level early
next year.
Enchanted by money falling from trees and pharma-
sprinters, businesses and workers were shattered by a “seasonal”
resurgence in virus infections, similar to what we historically
call “flu season”, leading to the reimposing of restrictions in
all countries. It is now expected that the new restrictions will

Copyright © 2021 Journal of Business Forecasting | All Rights Reserved | Winter 2020-2021 | www.ibf.org 35
Pandemic Reveals
Underlying Resiliency In
U.S. Economy; Significant
Rise In Productivity
By Jamal Nahavandi

Dr. Nahavandi is Associate Professor of economics at Pfeiffer University School of Graduate Studies, special­izing in Business
Economics, International Business, and Healthcare Economics. The information in these forecasts is gathered by the Journal
from sources it considers reliable. Neither the Journal nor the individual institutions providing the data guarantee accuracy,
nor do they claim that use of the data appearing herein will enhance the business or investment performance of companies
or individuals who use them.

PARTICIPANTS | Conf. Board = Conference Board, New York, New York; Fannie Mae = Fannie Mae, Washington, D.C.; GSU - EFC = Georgia
State University, Economic Forecasting Center, Atlanta, Georgia; Moody’s Economy = Moody’s Economy.com, Westchester, Pennsylvania; Mortgage =
Mortgage Bankers Association, Washington, D.C.; NAM = National Association of Manufacturers, Washington, D.C.; Perryman Gp = The Perryman
Group, Waco, Texas; Royal Bank of Canada, Toronto, Ontario, Canada; S&P = Standard & Poor’s, New York, New York; US Chamber = U.S. Chamber of
Commerce, Washington, D.C.; Wells Fargo = Wells Fargo Bank, San Francisco, California.

E
leven months into the Covid-19 Pandemic, the U. S.
economy has rebounded impressively from an incredible
shock. However, conflicting public health messages
regarding Covid-19 have produced challenges for economic
recovery. A return to strict lockdowns in major metropolitan
areas to mitigate pressure on the healthcare sector is expected
to add to the initial unemployment claims, particularly among
hourly wage workers who are already struggling to meet
necessary expenses. In addition to a significant logistical
challenge, vaccination hesitancy is expected to prolong
the process of economic normalization. A historically low
unemployment rate of 3.5 percent in February shot to 14.7
in the following two months and stood at 6.7 in November.
In February, the unemployment rate for men was slightly
higher than women at 3.6 versus 3.4 percent. In April, the
unemployment rate for women shot up to 16.2 versus 13.5
for men. However, in November, the male unemployment
rate stood at 6.9 versus 6.4 for women despite the pressure of
homeschooling and a shortage of daycare facilities.
CONSUMER SAVINGS
SKYROCKETED IN EARLY
2020 BUT CONSUMPTION
EXPENDITURE IS RETURNING
Personal consumption expenditure (PCE) tanked sharply
in April to 81 percent of the February level. However, PCE has

38 Copyright © 2021 Journal of Business Forecasting | All Rights Reserved | Winter 2020-2021 | www.ibf.org
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 TESTIMONIALS

N TE N TS A N D P U R C H A SE
TO V IE W TA B LE O F CO
Visit: ibf.org/books
Michael Wachtel
Vice President
of Supply Chain
L’OREAL

“
Whether you are just getting
into the vocation or an executive
looking to take your Demand
Planning to the next level, make
sure to pick up this book to ensure
your organization is heading in
the right direction.”

Jay Nearnberg
Director, Global Demand
& S&OP Excellence
NOVARTIS
CONSUMER HEALTH
“ I would recommend the book
to any Demand Planning practi-
tioner as a practical way of main-
taining current knowledge in
this rapidly changing field.”

Curtis Brewer
Head of Forecasting–
Environmental Science
USA,
BAYER
CROPSCIENCE
“ This work is a great foundational
book for anyone working in the
Forecasting and Demand arena.”

Mark Covas, CPF

Director of
Demand Planning
JOHNSON &
JOHNSON
“ T his is a ‘How to Book’ every
Fore­caster and Planner should
have on their desk!”

Todd Gallant, ACPF

Vice President of
Global Planning
CROCS

“ Leaders will find it perfect to

educate their teams, peers, and
management on critical busi­
ness processes that keep the
supply chain in motion. This
book will be a must read for

3rd Edition
members of my team.”

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Forecasting & Planning tel: +1.516.504.7576 | email: info@ibf.org | web: www.ibf.org/books
IBF ON-DEMAND youtube.com/demandplanning

Institute of Business
Forecasting & Planning

tel: +1.516.504.7576 | email: info@ibf.org | web: ibf.org/podcast

Demand Planning, Forecasting & S&OP
Certification Program
Become a CPF Certified Professional Forecaster
• Master Demand Planning, Forecasting and S&OP / IBP

• Validate Skills with a Globally Recognized Certificate

• Gain the Recognition to Succeed in This Rapidly Changing Field

• Improve Leadership Opportunities & Marketability

• Be a Catalyst and Inspiration for Change

• Complement Supply Chain Education & Other Certifications with IBF

3 Types of IBF Certification

Certified Professional Forecaster (CPF)

Advanced Certified Professional Forecaster (ACPF)

Certified Professional Forecasting Candidate (CPFC)

For students & New Practitioners

Companies with CPF or ACPF (partial list):

CPF
Certification
3M Carhartt E & J Gallo Winery Ingersoll-Rand Nike
Alberto Culver Caterpillar FedEx Company Novartis
Altria/ Phillip Chevron Fruit of the Loom Intuit OnStar

Preparation Course
Morris Cisco Systems Fuji Film John Deere Oracle Corporation
AOL Coca-Cola Gap Johnson & Johnson Panasonic
Apple Continental Tire GE Komatsu Pepsi
AstraZeneca Corning General Mills Lilly On-Demand (5 hours)
McCormick & Co

Only $329(USD)*
Aveda Coty, Inc. Georgia Pacific
BASF Cummins GlaxoSmithKline Mead Johnson
Baxter Dealer Tire Goodyear Merrill Lynch
Healthcare Delta Hanes Brands Michelin *IBF Members
Bayer Disney Harley-Davidson Microsoft receive
Behr Rubbermaid Motor Company Monster Cable Corporation an additional
Best Buy Dow Corning Heineken Motorola Mobility/ Google $50 off
Boeing Dr. Pepper Heinz Navistar Parts
Bosch Snapple Hewlett Packard Neiman Marcus
Brown Forman DuPont Hollister Nestle
Institute of Business
Forecasting & Planning

Institute of Business
Forecasting & Planning tel: +1.516.504.7576 | email: info@ibf.org | web: www.ibf.org
IBF CALENDAR 2021*
Ongoing IBF LIVE WEBINARS
Please check www.ibf.org for the latest Live Webinars (FREE) taking place in Demand Planning, Predictive
Business Analytics, Forecasting, S&OP / IBP, and Supply Chain Planning

Ongoing IBF CHAPTER MEETINGS (Global)

Please check www.ibf.org for the latest Chapter Meetings (FREE) taking place across the globe covering Demand
Planning, Predictive Business Analytics, Forecasting, S&OP / IBP, and
Supply Chain Planning

2 0 2 1
February 22, 24, & 26 VIRTUAL IBF BOOT CAMP
S&OP and IBP
w/ 1-Day Supply Chain Planning Workshop

March 17 – 19 IBF BOOT CAMP

Demand Planning & Forecasting
w/ Predictive Business Analytics & Use of Big Data Workshop
Chicago, Illinois USA

April 20 – 22 VIRTUAL PREDICTIVE BUSINESS ANALYTICS

Forecasting & Planning Conference
w/ Data Science Workshop

April 26 – 27 VIRTUAL ASIA BOOT CAMP

Demand Planning & Forecasting
Singapore/ China Time

May ONLINE EDUCATION SERIES

S&OP, Supply & Demand Planning, Forecasting, & Predictive Business Analytics
w/ IBF Certification Review Course

September ONLINE EDUCATION SERIES

S&OP, Supply & Demand Planning, Forecasting, & Predictive Business Analytics
w/ IBF Certification Review Course

October 19 – 22 FLAGSHIP EVENT

Business Planning, Forecasting & S&OP: Best Practices Conference
w/ 1-Day Forecasting & Planning Tutorial
Wyndham Grand Orlando Resort Bonnet Creek | Orlando, Florida USA

October 20 LEADERSHIP FORUM

Business Planning, Forecasting & S&OP
Wyndham Grand Orlando Resort Bonnet Creek | Orlando, Florida USA

November 17 – 19 EUROPE

Business Planning, Forecasting & S&OP Conference:
w/ 1-Day Forecasting & Planning Tutorial
DoubleTree by Hilton Centraal Station | Amsterdam, Netherlands

December 8 – 10 IBF BOOT CAMP

Demand Planning & Forecasting
w/ Predictive Business Analytics & Use of Big Data Workshop
Las Vegas, Nevada USA

* IBF events are updated regularly. Please check www.ibf.org for the most up-to-date schedule
IBF CPF & ACPF certification exams are given the day after most IBF events. Register Today!
 Become an
IBF Member

IBF
Today!

Membership
Fostering Innovation in
Demand Planning,
Forecasting, and S&OP/IBP
• JOURNAL OF BUSINESS FORECASTING
(JBF SUBSCRIPTION)
• FREE IBF TRAINING
• FREE ACCESS TO JBF ARTICLE LIBRARY
• RESEARCH REPORTS, BENCHMARK STUDIES
• VALUABLE FORECASTING TEMPLATES
• DEMAND PLANNING, FORECASTING, AND S&OP / IBP SUPPORT
• DISCOUNTED IBF EVENTS, TRAINING, AND CERTIFICATION
• NETWORK WITH 1000’S OF DEMAND PLANNING, FORECASTING, ANALYTICS,
S&OP / IBP AND SUPPLY CHAIN PROFESSIONALS GLOBALLY

Institute of Business
Forecasting & Planning TEL: +1.516.504.7576 | EMAIL: info@ibf.org | WEB: ibf.org/ibfmembership
J O U R N A L O F

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Institute of Business
Forecasting & Planning

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