![]() The benefits of using a common FAI methodology are clear – providing a unique, standard, state of the art process within our industry allows every stakeholder to "speak the same language". The newly-released Odette Best Practice Recommendation entitled 'Guidelines for Collaborative Forecasting' is a complementary document providing a practical guide to the implementation and use of FAI to continuously improve forecast quality. In January 2012 Odette published its Forecast Accuracy Measurement recommendation which defined a best-practice method for measuring the quality of demand forecasts using a Forecast Accuracy Index (FAI). Creating more "stable" business conditions is a prerequisite to improving overall supply chain performance but inaccurate demand forecasts are leading to significant levels of waste in our industry which need to be eliminated.
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