Special Holiday Episode | Can You Forecast Better Than A 6 Year Old?

Sponsored by Arkieva, your One-Plan S&OP software. Find out about Arkieva's approach to demand planning:  https://bit.ly/forecast-accuracy-webinar 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/33BiLSEIn this special holiday episode I speak to Rex and Ashni, 2 experts in the field who happen to be 6 years old. They might just be able to forecast better than you!We can learn a lot from children because they don't bring bias into their thinking, and we all know that bias can kill your forecast accuracy. Kids are also wrong with confidence - a key trait of a successful Demand Planner. They also don't sweat the small stuff,  don't worry about ambiguity, and always ask "why" - all keys advantages in demand planning. 09:40 Getting rid of bias in our forecasting10:44 Why a child's curiosity is highly valuable11:58 Being wrong with confidence 14:29 Ask a lot of questions and ask "why?"15:00 Think anything is possible16:45 Fail fast 21:35 Always be learning 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

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The forecasting, demand planning and S&OP podcast designed for practitioners in the field. Brought to you by the Institute of Business Forecasting with your host Eric Wilson, ACPF.